Buy mutual funds online
The many advantages of buying mutual funds online
Digitization has made it possible to buy everything online – from groceries and attire to beauty products, travel and more. The world of finance with its various financial instruments has also taken a big leap in this direction. You can complete almost all finance transactions online with ease and safety. Buying mutual funds online is one such activity which has gained great momentum because of the convenience offered to investors.
We have Fund Houses with a huge online presence offering their best services to investors. Transactions on their portals involve registration after which you get a username, and a password / personal identification (PIN) number to start your online transactions. You have Asset Management Companies, Banks and individual brokers as well.
As an investor, you may decide to invest in a range of funds which means transacting on many different websites which in turn implies having to either write down or memorize the various PIN numbers you need to transact with. To avoid this nightmare and to make transactions more comfortable, it is wise to register with online transaction portals like Fundsupermart.com or Fundsindia.com.
The initial steps of buying mutual funds online:
All you need to do at the start is open an online account. You then have to fill an online form sharing all requisite details, get the form printed and sign it. Take a xerox copy of your PAN card as well as your ‘Know-Your-Client’ (KYC) acknowledgement and send all these details to either Fundsupermart.com or Fundsindia.com. Both these websites have a reputed status and once you send your details you are in a position to buy mutual funds across 41 Fund Houses in the country. It is also possible to buy mutual funds online from a bank’s website. Some banks assist you with the investing of mutual funds online through a separate online investment account. It is mandatory that you have a prior account with the said bank. The banks charge a nominal fee and you can invest in equities and funds of your choice though a demat account becomes a pre-requisite for purchase of equities.
All renowned portals have an alliance with all the leading banks and allow for absolutely smooth online payments. ‘Scripbox’ is a very interesting online tool which came into existence in November of 2012. This suggests a minimum of four lucrative funds which you can decide to invest in. All details pertaining to this tool are available in the digital world.