How To Start SIP Investment?
Start Your SIP in Mutual Funds.
Question: What is SIP Investment & How to start SIP Investment? Also, tell me the documents required to start SIP investment. Thanks
Answer: SIP is Systematic Investment Plan in Mutual Funds. It is a method to invest in mutual funds, to invest a fixed amount in a disciplined way for a period of time in mutual funds is known as Systematic Investment Plan or SIP.
SIP Investment in Mutual Funds is the best way for the accumulation of wealth along with capital appreciation at the rate that beats inflation marginally. Equity Investment has proven to beat inflation over a long period.
How To Start SIP Investment?
As I mentioned SIP is a process or method to invest in mutual funds, you can understand more about it here, how to start investing in mutual funds.
Here, I will share with you Step by Step Guide on How To Start SIP Investment?
1. Find a Mutual Fund Advisor with whom you can start your mutual fund investment online.
2. If you’re not KYC verified. Get your one-time KYC done.
3. Select a Fund Category for your Financial Goal. (consult your Advisor if not sure)
4. Select a Mutual Fund Scheme to Invest. (consult your Advisor if not sure)
5. For Future SIP Investments, you need to give Standing Instruction (NACH ECS DEBIT MANDATE) to debit all future installments of SIP directly from your bank account.
Summary of Documents Required to Start SIP
1. PAN CARD
2. ADHAAR CARD
3. CHEQUE favoring Mutual Fund Scheme
4. NACH ECS DEBIT MANDATE FORM
5. PHOTO (only, if you’re not KYC verified)
Above list of documents required to Start SIP Investments In Mutual Funds.
If you have any other query, tweet me @gurpreet_saluja
Hi, I’m Managing Director at Gurpreet Saluja Financial Services where I help my investors to invest in mutual funds and achieve their financial goals. I’m also a Value Investor and here I write about Personal Finance & Investing.