How To Open SIP Account Online: Open Account In Minutes; Follow These Steps

Opening SIP Account Online: You can start SIP Investment anytime. SIP Account can be opened online in minutes. By opening an account, you just have to choose the scheme that suits you and start investing.
SIP Accounts, Invest, scheme
SIP Accounts, Invest, scheme

How to open SIP Account Online: SIP i.e. Systematic Investment Plan has the most charm for new investors. If you want to start equity-linked investment then SIP investment is considered to be the safest. Through SIP you invest in any mutual fund scheme of your choice. In this, you invest a fixed amount in the fund for a fixed period. The good thing is that SIP is considered a guarantee of tremendous returns in the long term.

You can start SIP Investment anytime. SIP Account can be opened online in minutes. By opening an account, you just have to choose the scheme that suits you and start investing. If you also want to open an account, then we are telling you all the important things related to it.

What documents will be required to open a SIP account? 

As we told you earlier, the first step to open a SIP account for mutual funds is to get your KYC done. For this, your personal details like name, address, office address, ID proof, etc., are verified. On the KYC portal, you will need a copy of the cancelled check from your bank account, passport size photo, PAN card as ID proof, passport, voter ID, Aadhar card or driving license along with utility bill, bank statement or your company's as proof of address. You can attach a letter on behalf of.

How to open an SIP Account? 

You can start SIP with even Rs 500. The method of opening an account is also easy. Follow these steps: 

Step 1: First complete your KYC. For this you will have to give details like your name, and address. You can do this verification either through video call or through Aadhaar OTP. After KYC verification, your account will be opened. 

Step 2: After this, choose any mutual fund scheme of your choice and register to start SIP in it. 

Step 3: You have to choose SIP and then choose the time when you will invest. After this, enter the bank details from which the amount is to be deducted.

What are the risks in SIP?

There is some risk in investing money in anything, similarly there is a possibility of some risk here. SIP can be started with a small fund; hence the possibility of high risk is completely eliminated. If you invest in SIP of a company which is incurring losses and is not able to earn profits, then the chances of losing money increase. If investment in SIP is made for a short period then there can be loss. Investing for a long time reduces the chances of loss. If the ongoing SIP is broken within two-three months, then not completing the SIP process may result in loss. If the company suddenly faces a crisis, it may incur losses.

Benefits of SIP

  • There are many benefits of investing in SIP, like if you fall under the income tax slab and file income tax return, then SIP will be beneficial for him as it can provide exemption in tax return

  • SIP is a great way to save. In SIP, there is no burden that you have to pay money every month, if you want, you can also invest annually, due to which a good amount of money is accumulated

  • This is a good option for those who are afraid of taking risks

  • There is benefit of compounding in SIP, if investment is to be made for a long time then there is more profit

  • If returns in the market are increasing then you can increase investment in SIP

  • If you want, you can stop SIP if the market falls and if the market improves again, you can start SIP again

  • SIP auto facility can also be availed from the bank, there is no need to go anywhere.

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