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How to Invest in Mutual Funds? – Guide to Start
Australia Cricket Team. England Cricket Team. West Indies Cricket Team. Bangladesh Cricket Team. Live Cricket Score. Defining your financial goal in terms of objective, budget and tenure can go a long way. This can help you decide how much you can set aside for a mutual fund and figure out your risk appetite.
A Beginners Guide On How To Invest In Mutual Funds In India
Investment always works best with a purpose. It takes more than reading about different mutual fund types to decide on a suitable mutual fund category. Experts normally recommend a balanced or debt fund for first-time investors as it comes with minimal risks while giving you higher returns than, say, FD. With hundreds of mutual fund schemes within each category, you need to select the one that has performed well consistently for at least 5 years. Consider investing in more than one mutual fund not exceeding 3. A portfolio of funds will help you diversify across instruments and investment styles.
It will also even out risks — when one fund underperforms, the other makes up for it without bringing down your entire portfolio. Systematic Investment Plan SIP is better for beginners if investing in equity or equity-oriented funds. While a lump sum investment can put you at the risk of catching a market peak, an SIP allows you to spread your investments over time and invest at different market levels. The benefit of rupee cost averaging that comes with SIPs also helps you earn higher returns over the long-term.
If you have a big amount to invest, you can invest it entirely in a debt fund and start a systematic transfer plan STP to an equity fund.
KYC is a government regulation for most financial transactions in India. Cleartax helps you.
To invest in mutual funds, you will also need an Internet Banking Account. Mutual funds allow investments to be done through debit cards and cheques, but a Net Banking account is an easiest and safest option. The entire process of investing in a mutual fund detailed above can be tedious and overwhelming. You might need to switch from under-performing funds. Get the services of a mutual fund expert and distributor , if all this is too much for you. You can invest in Mutual Funds in a paperless and hassle-free manner at ClearTax.
Buying a mutual fund in 5 steps
Using the following steps, you can start your investment journey:. Step 1: Sign up for an account at cleartax. Step 2: You need to enter your details like the amount of investment and investment period. Step 3: Get your e-KYC done in less than 5 minutes.
Beginners Guide to Mutual Fund Investment, Tutorial for Beginner Investors - AxisDirect
Step4: Invest in your favorite mutual fund from amongst the hand-picked mutual funds. Free E-filing. Paid E-filing by Expert CAs. GST Software. How to file GST Returns? Log In Sign Up. Invest Now.
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How to Invest in Mutual Funds?