How To Start SIP Online – Learn In 3 Steps
One of the safest and most secure places to invest your money in is in mutual funds. It doesn’t have the risk factors that are involved in other modes of investment. Stocks and shares are extremely volatile and one needs to keep tabs on the market conditions. However, there is not much one can do to influence the market either so there is always a chance of losing the money completely.
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People who have invested and are investing in mutual funds through their Systematic Investment Plan account or SIP account are the ones who can sleep without any worries at night. They are perfectly content with their investment plan because the risk factor is nearly zero here. In SIP investment, all one needs to do is invest a pre-fixed amount in regular intervals. The customer also gets to choose the amount and the interval period as well. In short, there is full transparency and the customer gets to choose an investment plan according to his needs. Investing in mutual funds through SIP ensures your wealth grows as well because the system is compounded. This article aims at instructing people about how to start sip online.
The three steps of ‘how to start sip online’ to invest in mutual funds
Investing in mutual funds is a piece of cake today. All one needs to do is open an SIP account with a mutual company using the internet. The three steps are as follows:
1. Necessary documents – Documents are needed to validate any kind of information about the person who is opening the account. Therefore, credentials are necessary to open the SIP account or to invest in general. Credentials like PAN Card number, address proof, a passport sized photograph, etc. are needed for confirmation.
2. Becoming KYC compliant – For opening any kind of account (bank account, SIP account, etc.) a person needs to become KYC compliant. This is a one-time procedure for safety purposes. Basic details of the customer are needed like his or her name, address, contact number, PAN number, passport size photo, etc.
3. Opening SIP account – The last step is to choose the company that you think provides plans that suit your investment purposes the best. Then you need to visit their website and register with them by opening your SIP account.
This is 3-step procedure of opening an SIP account with a mutual fund company is the answer to the question of how to start online sip and start investing without any hassle.
