'Mutual Fund Sahi Hai'
You come to this blog because you want to invest money in Mutual Fund and you probably hearing about Mutual Funds. In India, Many websites provide direct Mutual Funds investment, but I select here two largest websites, that are dealing with almost every AMCs to invest your money. You can buy compare any of AMCs and start SIP or invest Lumpsum amount in these websites. 


Requiremtents: 

Before opening an account in Pisabazaar or BankBazaar.com, you need the following documents

  • Aadhar Card with Registered Mobile No.
  • Pan Card with KYC
  • Bank Account No. with IFSC details
  • Photo (can be taken by your mobile)

To check if your pan card is registered with eKYC or not, please click here and enter your pan card number. If your pan card is not eKYC compliant, then you need the following documents:

  • Make a video of yourself taking pan card in your hand
  • Upload Images of your Pan Card and Aadhar Card
  • Take a selfie and upload

You also need to provide them, Signed Paper Mandate for ECS, for Systematic Investment Plan so they can auto debit the amount of SIP from your bank account. The minimum amount of mandate is Rs10,000. It means that if your monthly SIP is Rs 3000 yet you have to provide them permission for debiting Rs 10000 from your account. They will not debit the SIP amount but if you need to increase SIP in future, you will not need for any further paper work.

Broker Charges:

There are zero charges for mutual fund, they sell direct mutual funds. So there are no hidden charges.

Steps for opening account in Paisabazaar or BankBazaar.com:
  • Login to Paisabazaar
  • Input your personal information like your age, name, email and Mobile Number(advisable not to give primary number)
  • Verify your mobile number and email ID
  • Provide your PAN card details and aadhar card details and do the KYC process as guided in the requirements.
  • After completion of KYC, set your goal and Paisabazaar will show you the recommended funds, if you do not know where to invest, you can call to the customer care and they will guide you further.
  • You have send the physical copy of Bank Mandate (Min of Rs10000) via Post to start your SIP.
Advantages:
  • These two websites are largest websites for investing in mutual funds.
  • You can compare between multiple AMCs.
  • Dashboard is easy to use.
  • No broker Charges
  • You can also transfer 3rd party investment to paisabazaar/bankbazaar.
  • Option for choose multiple funds.
Drawbacks:
  • You have to give them Bank Mandate of Rs 10000 even if your SIP amount is less than that.
  • Although there are no fees, but their customer care executive may call you to buy their other services like savings account, policies or loans. (It may be frustrating)


Thanks for reading this article, I hope you get enough information about this but if you have any doubts, you can ask me in comments below. Do share this if you like to spread information.