How to get started with EQUITY SIP

Grow your wealth faster and realise your long-term goals or dreams with Equity SIP or Systematic Investment Plan, which is the best method to initiate investment in high-end stocks. When it comes to equities, many people have a misconception that you need to invest in one go. But the fact is that you can even start with a minimum investment of Rs.500. A SIP can come in handy here!

Equity SIP you to buy stocks at regular intervals in a systematic manner. If you’re looking to build a considerable corpus over time with a disciplined investment approach, equity sip is an ideal way to begin your investment journey. 

So, the question is how to get started with equity SIP? Here is the guide to start equity SIP investment.

Step 1: Complete KYC requirement, a mandatory requirement for investments 

Whether you’re investing in the share market or investing in mutual funds, it is necessary for you to be KYC-compliant

• Arranging the required documents

To initiate an equity SIP, you require the following documents, including PAN card, Proof of address (Aadhar card, passport, Voter ID, driving license, etc.), passport-size photograph, and cancelled cheque for bank details.

Begin the KYC

 

You need to visit the official website of the mutual fund company for eKYC. If eKYC is not possible, you can visit KARVY or CAMS, which are the online portals of the registrar. You will be required to provide your name, date of birth, contact details and other basic information. Post this; you need to upload the soft copies of PAN Card, address proof and photograph.

 

Complete the in-person verification 

In-person verification requires you to schedule a video call appointment with the mutual fund company or authority for eKYC. This is a requirement to confirm your identity through webcam. For a video call, ensure that you have a stable internet connection. Have PAN card and address proof in handy for verification.

KYC compliance process can also be carried out using Aadhar Card, but that will limit you to a yearly investment of Rs.50,000. 

 

Step 2: Register for an Equity SIP

To start with an Equity SIP, the first step is to look for a scheme offered by different fund houses.

 

Click on the register now or new investor tab on the website.

You will be taken to an application form. Fill the basic details and submit.

You will also be required to create a user id and password to carry out online transactions.

Provide the details of the bank account from which the fixed amount of SIP will be debited

Step 3: Selection of SIP

When it comes to the selection of the right SIP, it totally depends on your investment goals, amount, income and expenditure. 

If you are unsure about how much amount you should invest in equity SIP, you can also use an online SIP calculator. It will let you know how much you can save in a month to achieve a goal. If your risk tolerance is high, you can invest in stocks and earn good returns in the long term. Equity SIP lets you invest in specified stocks for a certain time at regular intervals. It is flexible, profitable and instils a disciplined investment approach for wealth creation. 

New/Existing customers through Branch/Service centers

Step 01: Calculate your SIP amount using our SIP calculator tool.

Step 02: Select the Mutual Fund schemes that suit your investment objectives.

Step 03:Download the application form, from our website or collect it from a branch.

Step 04: Submit the application form along with the first cheque.

Existing Customers through website

Step 01: Calculate your SIP amount using our SIP calculator tool.
Step 02: Select the Mutual Fund schemes that suit your investment objectives.
Step 03: Login to your online account on our website & start a SIP.
Step 04: Login and start a biller in the name of Aditya Birla Sun Life Mutual Fund (ABSLMF) with the URN received from the ABSLMF website.

New customers through the website

If you are KYC-KRA compliant, you can also create your folio online. Post which, you can start your SIP through your online account.