Where to Buy Mutual Funds
Mutual funds as you all know is an effective financial vehicle in which a pool of money is collected from the investors to invest in various asset classes.
There are many ways to buy mutual funds, both online and offline. Here, let us elucidate the various sources from where one can buy mutual fund.
AMCs (Asset Management Companies)
Around 40 asset management companies in India provide mutual funds. LIC Mutual fund, Axis mutual fund and SBI mutual fund to name a few. Their mutual funds can be bought either from their website or office.
However, the problem with buying mutual funds from their office is that you will have only their funds to buy.
Another source from where mutual funds can be bought is mutual fund brokers or distributors such as banks, stockbrokers and mutual fund agents known as IFA’s (Independent Financial Advisors).
Besides this, an organization namely AMFI (Association of Mutual Funds of India), which regulates all activities related to mutual fund, conducts exams for those who wish to be a distributor.
You can buy mutual funds from them too.
You get mutual funds from online platforms too. Here, you get it commission free. However, those advises and suggestions on what to choose and not to choose will not be available here.
Following are the documents required to buy a Mutual Fund
- A submission form if doing it offline.
- PAN card
- Identity card with address proof
- Cancelled cheque.
- Debit mandate to the bank authorizing the asset management company to debit a specific amount in fixed intervals from the bank in case of SIP investment.
Plenty of platforms are available to buy mutual funds. Choose one which you feel is convincing.