A New Way To Start An SIP Without Visiting Mutual Fund Office
Investing a fixed amount of money in pre-defined mutual fund schemes at a fixed interval is called the Systematic Investment Plan (SIP). In early, investors who want to invest in mutual funds in a disciplined manner visit the fund houses and start a SIP account. Now, it introduced a simple way to start a SIP without visiting mutual fund offices. i-SIP is an online and secure method to start a SIP instruction in Mutual Fund schemes. The i-SIP facility is introduced for new investors and existing investors.
By using the new i-SIP facility, investors no need to visit the Asset Management Company office. Moreover, they do not fill any physical application form and attach proofs while starting a SIP.
For Online SIP Investment Must-Have
Investors should have three kinds of instruments to use the i-SIP facility.
- Be KYC Compliant
- Have an account in an approved bank
- Must have an activated internet banking facility
Fill up the i-SIP form
For filling the online i-SIP form, investors need to visit the mutual fund website and fill all the data related to your SIP details and personal details. The investor also can elect to register nomination in the form and add a mutual fund agent’s ARN.
To generate a unique registration number (URN)
The investors can receive a unique registration number after submitting the online i-SIP form. It will send to the investor’s Email ID or Mobile Number. It also considered as a reference number to i-SIP on the investor’s IB (internet Banking) website.
Registered On Net Banking Portal
The investors must-visit the net banking portal within 10 days of a unique registration number has generated. They need to add mutual funds as a new biller in the category of bill payment. The bank will verify the investor’s biller details. Then it will activate the biller (mutual fund scheme). It’s important to note that they have to give an auto-debit instruction for SIP installments.