Hi,
Two of relatives would like to invest some lumpsum amount (1 lac each) in MFs but do not have PAN card. When I queried with an agent, we cannot go for SIP from their banks branches as they are in rural area.
My questions are:
- Which type of investment is good in this case? STP or Flex STP (Like HDFC Flex STP which is based on NAV)
- For 1 lac amount, how long they should opt for STP?
- Can I invest on their behalf and put them as Nominee or is there any better way? Will it interfere with my existing folio nominations?
Thanks