PAN is a very important document for them to carry out their financial transactions. Applying PAN card has been simple with Aadhaar card. Mutual funds investment requires PAN card, Bank account details and cheque book to start. These all takes 3 min to apply for PAN card and start your mutual funds investment. PAN card charges for Indian citizen is Rs.110. You can apply PAN card by attaching Aadhaar card information. Steps to start your mutual fund investment.
1). Apply for PAN card by paying Rs 110 in nsdl portal.
2). Apply for bank cheque book with free of cost with minimum of 10 leaves cheque book.
3). Once you get the PAN card and cheque book, install PayTM money mobile app.
4). Register the PAN card and Bank account information.
5). Select the mutual fund and monthly contribution using SIP mode.
6). Complete the registration.
In case your investment horizon is more than 5 years, select equity oriented mutual funds. Here is the list of top equity mutual funds.
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- Axis bluechip Direct growth fund
- Axis Midcap Direct growth fund
- UTI Equity Direct Growth Fund
- Mirae Asset Tax Saver direct fund
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Login to PayTM money portal and install PayTM money mobile app. Here the list from PayTM money to start your mutual fund investment. Here the list from PayTM money
Better than Fixed Deposit:
Best mutual funds that are suitable for a low risk taking investor and have potential to generate returns higher than bank fixed deposits over an investment period of about 1 year. These mutual funds do not have a lock-in period. These funds are better than fixed deposit
Index funds:
Top index funds which track the composition of popular benchmarks such as Nifty 50. Unlike actively managed funds these passive funds have lower expense ratio but limited scope for out-performance relative to benchmark. These are suitable for medium risk taking investor looking at an investment period of 3-5 years.
Invest in all sizes of companies:
Top mutual funds ideal for long term wealth creation that invest across companies of all sizes – small, mid and large. These are suitable for medium-to-high risk taking investors who are looking for potentially medium-to-high returns over a period of 5-7 years.
High Risk for High Returns:
Best mutual funds that are suitable for long term wealth creation and invest in mid & small sized companies. They are suitable for investors who have high risk taking ability and are looking for potentially high returns over a period of 5-7 years.
Medium Risk for Medium Returns:
Top mutual funds ideal for medium term wealth creation that invest in a mix of equity (stock market) and debt (bonds). They are suitable for a medium risk taking investor looking to generate potentially equity-like returns over a period of around 3 years.
Better than Savings Account:
Best mutual funds that are suitable for very-low risk taking investors, have no lock-in period and can potentially earn more than savings bank account interest. These can be used for parking surplus cash instead of keeping in savings bank account.
Invest in Large Companies:
Top mutual funds ideal for stable wealth creation over the long term by investing mostly in large sized companies with proven track record over years. These are suitable for medium risk taking investor looking at an investment period of 3-5 years.
High Quality Debt Funds:
Top mutual funds that are suitable for low to medium risk taking investor for a period of at least 3 years. Invests in high quality bonds of Banks, PSUs and Corporates. Can potentially earn higher post tax returns than a 3 -5 year FD.
Invest to Save Tax:
Top mutual funds (also known as ELSS) that provide a deduction of up to Rs. 1.5 Lakh per year under section 80C of the Income Tax Act. These provide equity-like returns and have a lock-in period of 3 years, which is lowest among tax-saving instruments under 80C.