I am Srinivas , I am investing in UTI MF through SIP since 2013, is it possible to invest in other mutual funds online without approaching them?
If yes kindly specify how to do. At present I am staying in Tripura State. Here unable locate branch offices.
I am having home loan with EMI (15518rs) till now I have completed 4 years of 20years tenure. Is it a better idea to prepay part payments or go for investment (I will be having 2 lak in coming 6 months)?
thanks & regards
Srinivasollu-If you have KYC then you can invest with other Mutual Funds too (Only few provide immediate online access to KYC completed clients). But the actual process is you must have to visit the branch (OR CAMS and Karvy) at first and fill the form in the beginning. Once the folio generated after your first investment, then you can manage the funds online.
Another way is to use the online portals like FundsIndia. Initially invest lump sum with them using their online platform. Once the folio number generated then using that folio number, create an online account with respective mutual funds and start investing directly.
If your fresh investment is for goals like kids education, marriage or retirement (the goals which are sure and you can’t neglect) then go ahead and invest. If this accumulation for any other purpose (irrelevant goals), then better to close it off the loan at the earliest.
Sir, as per your suggestion, I have opened account with fundsindia, as I am KYC compliant, it is saying I can invest readily, and you said initially I have to invest lumpsum amount, can you specify min amount and also please suggest best fund for me which can give min 12% returns, my plan is to invest for >5 years (as of now no time limit actually) As I am new to MF please pardon me if I am asking irrelevant/silly questionThank you sir
Srinivasollu-In all most all funds, the minimum lump sum amount will be Rs.5,000. If your investment is around 5 years or so then invest in a single fund of equity oriented balanced fund like HDFC Balanced Fund. But NONE will guarantee you that this will provide you 12% returns.