Online Mutual Fund Investment Process & Companies In India
Source:- https://www . finbucket . com/mutual-funds/mutual-funds-investment/
With the intention to create consciousness regarding online Mutual Funds (MF), & benefits of online mutual fund investment among the public, numerous Mutual Fund (MF) Asset Management Companies (AMCs) in India have conducted Investor Awareness Program (IAP) in several different cities since May 2010.
All Asset Management Companies (AMCs) are obligatory to deliver the program timetable for every fortnight in advance.
Online Mutual Fund Investment
Table of Contents
Online Mutual Fund Investment is convenient, fast, and simple. Most of the mutual funds available in India, allows you to capitalize through the online platform. Thus the material involvement comes alive on numerous investment portals.
The online Mutual Funds (MF) allows the consumer to buy, monitor and sell their investments online. The Permanent Account Number (PAN) no. is one of the most important documents required for online Mutual Fund Investment. Here is how you can to invest in the Mutual Funds (MF) online.
Source:- https://www . investopedia . com/articles/investing/111915/looking-buy-mutual-funds-online-here-how . asp
Process To Initiate The Online Mutual Fund Investment
Here we are providing you information regarding selecting online mutual fund investment and every other detail regarding this:
Select your Fund
To select your fund you may buy the funds directly based on the portal’s information. These are stereotypically called robot advisors; thus they prepare a simple risk profile, request for your goal line and finally will suggest you a lot of funds for you.
Or, there may be platforms where one can purchase whatever they want; some offer a regular plan, others offer some direct plans. Now check out the costs of the online mutual fund investment.
Online mutual fund investment platforms, although convenient, it serves those financiers the best who know Mutual Funds (MFs). So, if one wants handholding, then they need to stick to the robo advisors.
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Costs Of The Online Mutual Fund Investment:
All patterns of the online mutual fund investment offer regular and direct plans. Where the direct plans don’t come implanted with the distributor commission.
In case, you’re investing through the portal, then do not forget to check the structure of the online mutual fund investment cost. Portals such as Mutual Funds Utility (MFU) allow the investors to finance directly in addition, it allows the distributors to route their transactions easily and quickly.
There are also portals, which offer consumer direct plans. However, it charges for a nominal payment per transaction through the direct plans; some of these plans similarly offer some advisory facilities at additional expenses. Others offer just the distributor plans, on the other hand, they typically offer a bunch of services to the consumer.
The registered investment consultants are likewise mandated to deal with direct plans in case they charge any fee.
Know Your Customer (KYC) Compliance for Online mutual fund Investment:
It is obligatory to be acquiescent with the Know Your Customer (KYC) forms. Many fund houses and portals allow you to complete the KYC form online, only if you are not already a KYC-compliant.
In this process, you will have to go through the e-KYC Aadhaar-based OTP (One Time Password) method, which is a fully paperless process. For this,
- Punch the Virtual Aadhaar no., which can be generated on the Unique Identification Authority of India (UIDAI) official website
- Now enter the PAN (Permanent Account Number)
- Then enter your mobile no. and you will get an OTP (one time password) sent to the registered mobile number
- That’s it; you are good to go with your online mutual fund investment.
Through this online mutual fund investment, you are allowed to invest up to INR 50,000/- per year but you can also invest more. To capitalize more, you have to complete the physical KYC or the biometric KYC i.e. know your customer form. Many portals, although offered for pick-ups of the forms via courier. So, if you do not have sufficient time to appear physically at the office to complete the process then choose the portal wisely. Check out all the details before trying your hand on the portal.
This method of online mutual fund investment, though very easy, but it comes with limits. Online mutual fund investment will allow you to capitalize up to INR 50,000/- only per fund house every year.
You have to verify the bank a/c and register the bank obligation. Different bank portals and accounts have some different arrangements. One can register the bank mandate by using the Aadhaar-based online confirmation process such as used for the KYC.
Top Online Mutual Fund Investment Companies In India:
- Axis Long Term Equity Fund
- Axis long term equity fund
- Birla SL Frontline Equity Fund
- DSP Micro Cap Fund
- DSP Blackrock tax saver fund
- HDFC top 200 fund
- HDFC Cash Management Fund
- HDFC Mid-cap Opportunities Fund
- ICICI Prudential Value Discovery Fund
- UTI MNC Fund
- Reliance liquid fund
- Reliance top 200 fund
- Reliance small cap fund
- Reliance money manager fund
- SBI PSU Fund
- SBI Bluechip Fund