Mutual Funds Investments in the form of goals as an investor for the long term can really help to achieve your goals. The understanding process of buying mutual funds is really easy but before doing that we need to consult our mutual fund expert advisor to know what to buy and what not buy, as a wrong purchase in mutual funds may not only give us monetary losses but illnesses our hope for future investments in mutual funds.
“Choosing a Mutual Fund Consultant should be primarily Goal”
Once you have selected your Mutual Fund consultant with whom you are ready to invest in mutual funds, the next process is to arrange documentation part so your money can be quick and safe invested in mutual funds.
Do you have a PAN Card?
As per the Indian Government and Taxation authority of India, it is very important to have PAN Card without which you can not apply for any kind of investments in mutual funds.
Applying PAN Card is easy, Visit NSDL Online Website of PAN Card at https://www.onlineservices.
Do you have Bank Account with a chequebook?
Money comes in an goes out from a bank account to mutual funds and vice-versa. Your Bank chequebook should have your name printed on cheque leaf, in case it is not, we can advise to contact your bank and ask for a new cheque book with your name printed. As the Mutual fund advisor of yours cannot apply your Mutual Funds application without this name and signature.
Had you ever got your KYC did in the past, if not ask your Mutual Fund Advisor to get the needful done for you. Checking KYC is really easy, you can ask your Mutual Fund Consultant to check for the same or use any of the best websites for verification about the existence of your KYC or not.
As per the Sebi Guidelines, under the Prevention of Money laundering Act, 2002 without KYC one cannot buy/sell Mutual funds. The best part is one time KYC did and it works across all SEBI regulated securities market which can be
- Mutual Funds
- VC Funding
- Portfolio Investments
- Investments Scheme
KYC need a certain document, it is suggestive to keep them handly with you while applying for KYC
- Passport size photographs
- PAN Card / Aadhar Card/ Passport / Driving License
- Address Proof
All of these documents are very necessary to be self-attested and the Mutual Fund Advisor may request original copies also while applying for KYC.
This is the most important and smiling part of your investment. Filling the Mutual fund form, as it is the fresh road you are mapping for your goals which can lead your investment to a versatile different direction.
Normally, the mutual fund’s form contains two format
a) Scheme Form: Where you want to invest money, every Mutual Funds investment has there own different forms.
b) SIP Details: How long to invest, how much per month, what date ECS (Electronic Clearing System) Amount will be deducted. SIP really help in the slow and stable growth of your money.
Once the above is done, your Mutual Funds advisor will apply for your funds and get your Online Mutual Funds Account activated.
In the next article, we will continue with how to choose Mutual funds and how to make sure we sustain it. Please note the above article is just a regular information to provide a basic understanding of Mutual funds. Any information given is subject to change as per authorities handling mutual funds. Consulting your local Mutual Funds Advisor is always suggestive before applying for funds.