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The most important contribution of SIPs is the financial discipline it imparts on investors' life as they compel investors to invest regularly irrespective of the market conditions.Here are three easy steps in which you can start an SIP in a mutual fund scheme.Step 2: Become a KYC compliant It is mandatory to comply with the Know Your Customer (KYC) requirements for investing in mutual funds.You simply should provide basic information like name, date of birth, mobile number, address, etc.You can start an SIP with a frequency of your choice: daily, weekly, monthly, quarterly, among others.
Keep your original PAN card and address proof handy as you will be asked to show them during the video call.
But, there is a statutory limitation which won't allow you to invest more than Rs 50,000 in a financial year if you haven't submitted your PAN details.
The limit can be enhanced anytime by submitting PAN.
So you must check who services the fund of your choice.
The exact steps for e KYC differ slightly with every fund house. Basic Information: The system would first prompt you to give all the personal information in an online form.