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How to Invest in SIP Online in India?

With the start of a financial year, every investor looks forward to making newer investments. While there are various investment schemes flooding in the market, if one should invest in mutual fund schemes, the best option would be the Systematic Investment Plan. There is a plethora of Best SIP investment plans available in the market. You can choose the best plan as per your preference and convenience.

However, most investors, having decided to invest in SIP tend to apprehend the rigorous fieldwork involved. Generally speaking, the conventional paperwork can be tortuous and harassing. As a result, most investors turn away even before tossing a penny into the chosen scheme.

It must be mentioned that recent digital developments have made it considerably easy and hassle-free to start investing in SIPs online. Needless to say, there is no tedious paperwork involved and the potential policyholder can also save a considerable degree of both time and energy.

Therefore, in order to be able to invest in SIP online, from the comfort of one’s home, it is important to consider the fundamental requisites.

How to Invest in SIP?

The following points must be kept in mind in order to invest in SIPs:

  • First and foremost, the most important thing to do is to fill-up the KYC form. The Know Your Customer form is very crucial for investing in mutual fund schemes.
  • Consequently, the potential policyholder shall have to furnish an identity proof, an address proof and a photograph. Additionally, one must verify one’s physical existence through the In-Person Verification.
  • In order to fulfil the aforementioned criteria, one can easily fill up the electronically available KYC form. Generally speaking, a majority of the fund houses have already begun the facility of providing the form online. Everything one needs to do is to click on the e-KYC link.
  • Apart from that, as a viable alternative, the potential policyholder may also visit CAMS KRA online, a KYC registration outlet.
  • As far as this agency is concerned, it is a centralized and one time method. In other words, one need not fill it anew each time one signs up into a separate fund house.
  • Additionally, it is important to note that the agency is in essence not the registrar and transfer agent for each and every mutual fund. Therefore, it is of utmost importance to check who services the chosen fund.

Steps to Invest Online

Although the procedure may slightly differ across fund houses, the general steps remain almost the same. The following steps need to be followed in order to invest in SIP online:

  • First and foremost, upon opening the KYC link, basic information would be asked of the customer. All relevant personal info such as date of birth, name, mobile number, address etc. need to be correctly filled in the online form.
  • Secondly, it is important to note that a scanned copy of the PAN card and the address proof need to be uploaded on the website.
  • The most important step is the video call. As mentioned before, the verification of the policyholder’s physical existence is done by the In-Person Verification.
  • In this method, the concerned fund house will ask the customer to pick a suitable time slot at which the physical existence of the customer can be verified through a web cam.
  • Additionally, it is equally important to keep in mind that while the validation is on, the potential policyholder must keep his or her address proof and original PAN card handy as they may be asked to be shown during the video call.

What is the AADHAR based eKYC?

It must be mentioned here that having an AADHAR card would simplify the above procedure. For that, the following steps need to be followed:

  • After entering the AADHAR number and authenticating with an OTP, the customer’s form will be automatically filled up through the database stored in UIDAI website!
  • Additionally, one of the most important things to note is that in case of the AADHAR verified process, a video call for verification is not required.
  • However, it must be remembered that if in case the PAN card details are not filled, the policyholder cannot invest more than Rs. 50,000 in a particular financial year.
  • However, the said limit can be stretched anytime by giving the relevant PAN card details.

The Final Steps

  • After having followed the steps, the website is to be visited in order to be able to view the new account by clicking on the registration link.
  • Also, the mobile phone should be kept handy in order to note the One Time Password.
  • After having created an account, one needs to simply log in and select a mutual fund scheme. After choosing a mutual fund scheme, one needs to choose an appropriate SIP date and submit the request formally.
  • After having followed the above steps in a precise way, the SIP mutual fund scheme will have been started.

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Ajay Deep

Ajay Deep is a young enthusiast who Loves Chandigarh and is always eager to make this beautiful city even more beautiful. A Mechanical Engineer By Chance and Working in an IT MNC by Choice. A Writer, Photographer and a Budding Entrepreneur. A Designer, Developer and Digital Marketing Expert. In brief : A Jack of All Trades and Master of Few :) You may reach Ajay Deep at ajay@chandigarhmetro.com