The right kind of investment that people can make today is to invest in SIP or Systematic Investment Plans. They are extremely safe and convenient. While people still like to invest in stocks and shares, the SIP investment is a much more stable and safer way of gradually building your wealth. It doesn’t involve as much anticipation and hard work as stocks. It only calls for periodic investments of a particular amount.
How To Invest In SIP Investment Plan | Image Resource: Shutterstock.com
In the last couple of years, people who have chosen SIP investments over other forms of investments have significantly risen. The reason is people prefer dependability and peace of mind. They can sit at home and have investments made by auto-debit features of the SIP accounts. This article aims at answering the popular question of ‘how to invest in sip investment plan’.
The procedure of investment – SIP explained
While there is a method that demands you to take documents and appear physically in front of the mutual fund company, eKYC is also an option that a lot of people avail. This is probably the simplest of all the methods by which you can open an SIP account. The steps are as follows:
1. Providing information – Any kind of account opening demands basic information of the account opener. It is needed for validation and confirmation purposes. Opening an SIC is no different as it requires your basic details like your name, address, contact number, date of birth, sex, etc.
2. Documents – Simply filling in the details won’t suffice. There needs to be official documents that can back up the data. Hence, the need for documents. The documents that you will need to open an SIP account with any mutual fund company are PAN card, Aadhar Card (optional), address proof, passport size photograph and other such documents.
3. Video Call – Since this is an eKYC procedure, it can be carried out while you are at home. But the in-person confirmation cannot be done in this process. Hence, the video call suffices for the in-person confrontation. They check for your existence and confirm the photograph submitted. The PAN card and other submitted documents need to be kept at hand for visual confirmation.
4. Signing up - The last step is to register with the chosen mutual fund company by signing on to their official website and doing the needful (filling in the details and choosing an appropriate plan).
For people wondering how to find a sip investment plan to invest in - these are the four steps that you must complete in order for you to open a SIP account for investment in a simple and hassle-free way.
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