Starting And Buying SIP Online

SIP or Systematic Investment plans are the best form of investment in today’s time. Whether you want to get tax exemptions or you want to meet some form of financial goals, you can always use a SIP that is a hassle free mode for investing money in mutual funds.

The best part of SIP these days is you can buy them online and open a demat account with ease in order to start online investments. Due to increased penetration of internet, everyone is opting to invest into SIP. You can start your investments into SIP with as low as five hundred rupees and there is no limit to the maximum amount you can invest into it.

As a smart investor, you can also start and buy SIP online with any bank which is offering online banking these days. There are many financial institutions and other nationalized banks in India which are providing this facility to its customers through their websites for a nominal per transaction fee or yearly fee. You do not have to deal with any kind of brokers or investors, you just place an order to buy SIP online and mention the timelines for which you want to continue this SIP and the related amount is auto debited from your linked bank account and invested on said date into your SIP.

KYC Verification to buy SIP Online

With possibility of buying SIP through online account you do not have to deal with any kind of paperwork. Just initially while opening an account for buying SIP online you need to fulfill “Know You Customer” requirements. All you need to do is to submit an ID proof and an Address Proof with a recent colored photograph along with it. Sometimes this may require you to visit the KYC center to do an In-Person Verification.

Most of the banks facilitate you with an on-door representative to collect and verify your KYC details and related documents these days. In case you have an account with the bank which is providing you with the facility then your bank accounts KYC can be attached and considered for this process as well. Also, with online arena developing you can have a video call to complete an In-Person Verification. Once your account is open, you could consult your financial advisor or research online to have a hand on to your SIP experience journey.