SIPs are Systematic Investment Plans where money is deducted from your bank account and invested automatically. With an SIP, you’re able to purchase fund units at different levels of the market. To start invest in mutual funds in SIP, open saving account in one of the bank, get cheque book for the account and internet banking for the account. To open account and get cheque book it would take around one week. After get your account activated, contact mutual fund aggregator platform to start mutual fund investment. You can withdraw the mutual funds as same as bank account. Buying, selling and redeeming a fund at the current market price per unit (NAV) is quite simple. All you need to do is put in a request with the fund company and the fund manager will take care of the rest. With its easy liquidity, mutual funds can serve as your emergency funds.
1). Open Saving account
2). Get Cheque book
3). Activate internet banking
4). Contact mutual fund aggregator platform such as kuvera, upwardly, zerodha coin or clearfunds.
5). Select the mutual funds based on past performance, fund manager and size of the fund. Here are top 5 equity mutual fund schemes of last one year.
Tata Digital India Fund: 23.50
ICICI Prudential Technology Fund: 19.80
SBI Technology Opportunities Fund: 18.08
HSBC Brazil Fund: 13.36
Aditya Birla Sun Life Digital India Fund: 12.48
You do basic analysis and select the best fund for your financial goals.
6). Start with monthly 100 to 1000 monthly investment in mutual funds SIP.
List of bank supported for mutual funds SIP:
Open saving account in one of the bank listed below to start your investment. Saving account with cheque book and internet banking is required to start the mutual fund investment in SIP.
ALLAHABAD BANK
ANDHRA BANK
AXIS BANK
BANK OF BARODA
BANK OF INDIA
BANK OF MAHARASHTRA
CANARA BANK
CATHOLIC SYRIAN BANK LIMITED
CENTRAL BANK OF INDIA
CITI BANK
CITY UNION BANK LIMITED
CORPORATION BANK
DCB BANK LIMITED
DENA BANK
DEUSTCHE BANK
DEVELOPMENT BANK OF SINGAPORE
DHANALAKSHMI BANK
FEDERAL BANK
HDFC BANK
HSBC BANK
ICICI BANK LIMITED
IDBI BANK
IDFC BANK LIMITED
INDIAN BANK
INDIAN OVERSEAS BANK
INDUSIND BANK
KARNATAKA BANK LIMITED
KARUR VYSYA BANK
KOTAK MAHINDRA BANK LIMITED
LAXMI VILAS BANK
NKGSB COOPERATIVE BANK LIMITED
ORIENTAL BANK OF COMMERCE
PUNJAB NATIONAL BANK
RBL Bank Limited
SARASWAT COOPERATIVE BANK LIMITED
SOUTH INDIAN BANK
STANDARD CHARTERED BANK
STATE BANK OF INDIA
SYNDICATE BANK
TAMILNAD MERCANTILE BANK LIMITED
THE COSMOS CO OPERATIVE BANK LIMITED
THE SHAMRAO VITHAL COOPERATIVE BANK
UCO BANK
UNION BANK OF INDIA
UNITED BANK OF INDIA
VIJAYA BANK
YES BANK
It is easy to start mutual funds investment. It is not complex. Talk with mutual fund aggregator customer support to get help. There are more than 1 lakhs customer representative to help you to start mutual fund investment. Start as early as possible, Start today. Happy Investing:)