Invest in mutual funds without opening demat account; just follow 3 steps
Usually an investor invests in mutual fund after opening a demat account, but Sharekhan has introduced an InstaMF portal, which is an online and paperless mode of investment, for investors eliminating the need of demat account.
Mutual fund market has become lucrative investment option in India, as it has reached all-time high. Experts now recommend people to invest in mutual fund industry to avail the benefit of higher returns.
According to the latest data of Association of Mutual Funds in India (Amfi), total infusion in mutual fund schemes reached Rs 3.8 lakh crore in the first eight months (April- November) of the current fiscal.
In month of November 2017, investors pumped in about Rs 1.26 lakh crore into mutual funds market, taking industry assets under management to an all-time high of Rs 21.8 lakh crore.
Usually an investor can invest in mutual fund after opening a demat account. But Sharekhan has introduced an InstaMF portal, which is an online and paperless mode of investment, for investors eliminating the need of demat account.
InstaMF platform allows investors to open an account in just three steps. In the first step itself, investors will know whether they are KYC compliant or not.
In case their KYC is not in place, Sharekhan will get in touch with them within 24 hours to complete the KYC process.
With an InstaMF account, investors will also be able to access the ‘flexi invest’ option provided by Sharekhan. In Flexi Invest, investment amount, date and frequency of SIPs can be altered at any given point of time.
How to open an Insta MF account?
Enter your essential details
Invest a few seconds in sharing your all important information like PAN, Aadhaar number and a few more details as your first step to open your online MF account.
Verify information
Do a quick double check on all the details shared through an OTP-based verification. Once verified, you can create an InstaMF login ID you like and password that you can easily remember.
Add your bank details and other information
It’s the final step. Just upload a scanned copy of your cheque leaf to link your bank account and enter a few more details.
Stefan Groening, Director - Investment Solutions, Sharekhan says, “With the surge in retail interest in equity markets via mutual funds, InstaMF will help the growing investor base to invest with ease."
According to Motilal Oswal, if you are typically in your 20s to 30s belt, you can start building your investment portfolio with the help of mutual funds. You need to start off with a very minimum capital and you can find that your investment keeps growing at a gradual space.
The agency believes that for first-time investors, the mutual funds offer a tremendous scope for growth as your funds are invested in diversified forms of revenue generating sources.
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