Many of new investors think that to invest in mutual funds demat account is required. But that is not reality. To start invest in mutual fund, just PAN card is sufficient. PAN card and address proof is sufficient to open mutual fund account. There is more than 20 online platform to invest in mutual funds schemes, empowers investors to upload digital/ scanned copies of the required documents to complete the KYC process and start investing. Let us look at how to open your moneybook(mutual fund book) account and document required for mutual fund account.
It requires PAN Card and any one of Address proof to open mutual fund account.
Address proof
Unique Identification Number (Aadhaar)
Passport
Driving License
Ration Card
Voters Identity Card
Utility bills like Gas bill, Telephone bill (only landline) or Electricity bill, maximum 3 months old
Bank Account Statement/Passbook maximum 3 months old
To get PAN card, it takes hardly 200 rupees in india. Once you get PAN card, you can start investing on mutual funds. After get your PAN card, visit to the mutual fund aggregators platform and sign-up for mutual fund investment. The mutual fund aggregators will guide you for KYC process. KYC is a one-time process which every first-time mutual fund investor needs to follow, to be able to invest in a mutual fund. Most of the mutual fund aggregators provide option to submit document online for KYC. Invezta has PAN based e-KYC option. Mostly you have already done your KYC in your bank. If you have earlier invested in mutual funds (or your bank has done your KYC), then you should be able to start investing in 2 mins.
Mutual funds account can be opened in 2 mins.
Opening mutual fund account takes maximum 10 min of your time. Can be done online and it is user friendly interface. Demat account is not required to invest mutual funds. Opening mutual fund account is as simple as opening facebook account. Begin your investment journey now if you have PAN card with you. You can start with monthly 100 rupees in mutual funds.
How to open mutual fund account :
1). Get PAN Card
2). Get one of the address proof such as passport, ration card or any.
3). Login to below websites
PaisaBazaar : Online platform is 100% free
Kuvera : Online platform is 100% free
Zerodha Coin : Charge INR 50 per month once the investment value in your direct mutualfund portfolio crosses INR 25,000
PayTM Money : 100% free and currently offers support for 25+ AMCs, constituting more than 90% of industry AUM
Groww : 100% free for mutual fund investment.
ClearFunds : 100 % free mutual fund aggregator platform.
Invezta : It is free until you cross 50K.
4). Select mutual funds based on your investment tenure and goals
5). Start investing.
Do not worry if you have confusion on any of these steps. There are more than 10000 representatives to help you on this. You register in mutual fund aggregator platform and request for call. They would help to complete the process. Start now, happy Investing:)