Start your first SIP with Kotak Mutual Fund
Hope you have gone through my blog on is it the right time to invest in mutual fund.. and then you are landing on this page ..!
if not, you can visit the above link
or
if you have decided to begin with this mutual fund then
if not, you can visit the above link
or
if you have decided to begin with this mutual fund then
Let's start with the step by step guide to open your first mutual fund with Kotak...
Step 1: Go to the Kotak mutual fund official website :
https://www.kotakmf.com/ below screen should appear
click on Invest now in the right-hand side corner.
Click on the SIP option in the right-hand side panel
Tips: If you want to start monthly/ quarterly/ weekly/ daily SIP click on SIP or if you want to start Lumpsum click on Lumpsum
Step 2: Enter your mobile number to link and then Submit
Tips: Enter a mobile number to receive OTP, also enter that mobile number which you want to give for your online KYC
Enter the OTP received on your mobile number and click on Submit button
Step 3: Enter your name as per PAN and Email ID and Submit
Tips: Enter an Email to receive OTP, also enter that email which you want to give for your online KYC
if your online KYC was not present in the database, you can expect some OTP's to verify your mobile number/email.
As a part of this Mutual fund account opening, your KRA KYC will be carried out in parallel after successfully completing this process.
if your online KYC was not present in the database, you can expect some OTP's to verify your mobile number/email.
As a part of this Mutual fund account opening, your KRA KYC will be carried out in parallel after successfully completing this process.
Step 4: Enter your PAN, your Date of Birth (DOB),
Mode of handling would be Single
Tax Status would be Individual
and then click on Submit
The below screen should appear with your name and PAN on the top bar.
Step 5 :
Start filling the investment details like
Broker Details: Direct /Regular
Scheme Category: which type of mutual fund you want,
Scheme Name: which scheme you like/ decided after your research,
SIP frequency,
SIP date which you like, SIP stating from and up to what...
and an Installment Amount ( as small as 500 )
Tips: Keep the Plan as Direct Plan,
for safer side select scheme category as Equity
You can keep SIP Period To Perpetual, which means till cancellation /infinity.
Step 6: Click on Next below screen shall appear
this is Top-up option: it enables you an option to automate increasing your SIP amount every year by Rs. 500
Step 7: Enter your bank details :
Bank Name, Account Number, Account type, IFSC code (Upon entering Proper IFSC code, rest details should appear)
Click on Next
Step 8: A summary Page displaying all the details filled till now will appear,
you can have a glance once again at the details filled by you, and check out the checkboxes and then click on Submit.
Step 9: Your SIP registration is Complete
Below Page, cum acknowledgment will be generated with some of the details and a guide to one more next step for setting up the SIP mandate
Below Page, cum acknowledgment will be generated with some of the details and a guide to one more next step for setting up the SIP mandate
So, your SIP Request is set up but you need to now set up a Biller in your bank's internet banking to make the SIP payment automatic.
As in the above case, one URN is given to me for adding it as a biller.
you will also receive this URN number on your registered mobile number.
Tips: Setting up this URN mandate, you are allowing Kotak mutual fund to deduct money from your bank on your SIP day
Step 10: In my case its HDFC Bank's details which I have filled.
You should log in to your internet banking of the bank account you just filled in details in the above steps.
This option is slightly different for different banks. Depending upon the Bank, you need to find the option which can be one of the following :
Biller / Add billers/ Pay Bills / Manage Billers
Click on Mutual Funds & find Kotak Mutual fund
Select and Click on Add
Step 12: Fill in the details like
Received URN, Nick Name of your choice, Autopay Amount
and select Autopay as "Yes"
and payment method Bank account.
Add Biller and Confirm
you will get a confirmation as Biller as added like follows
Coool...
Your SIP Mandate is now all good to go...
Your Autopay Instruction will be deducted on your first SIP day...
Tips: you can expect some emails from CVL KRA or messages from KOTAK mutual fund
Stay tuned for the upcoming blogs on
"Start your first SIP with SBI Mutual Fund.."
"Start your first SIP with HDFC Mutual Fund.."
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