Question on Starting investing in mutual funds

POSTED BY praveen22 ON December 20, 2013 2:49 pm COMMENTS (3)

Hi all,

I have question regarding investing mutual funds? It might look like a stupid question for you all, but i don’t have any other source where i can get full info…

I want to start investing in mutual funds through SIP. I haven’t finalized which fund house yet. So what is required to start like to withdraw the money from the bank, we need to first open savings account with some initial deposit and use ATM card to withdraw money…

Do i required to open trading account (I only know that this account is used to buy/sell shares in stock market)? please help….

3 replies on this article “Question on Starting investing in mutual funds”

  1. ashalanshu says:

    Dear Praveen, no need to open Demat account just for MF investments. Please invest directly with your selected fund.

    Thanks

    Ashal

  2. praveen22 says:

    Thank You Ashal fur the response.

    But then KYC will be taken care of any AMC (I am looking forward in SIP in Franklin Blue Chip) in which I will invest in?

    My brother-in-law said I need to open a demat account first for saving the mutual funds in electronic format….is it so? if I need to which one is better.

    Is there any article which explains most of the things about investing in mutual funds, if so please suggest….

  3. ashalanshu says:

    Dear Praveen, I assume you are already having a running bank account with netbanking or Debit Card. Please contact either CAMS or Karvy in your city to complete your KYC. Once your KYC is done, you can invest in your choice of funds.

    Alternatively, you may invest in Quantum Long Term Eq. fund directly and they ‘ll do the needful for your KYC.

    Thanks

    Ashal

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