How to Buy Mutual Fund the Easiest Way??

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Earning money is important, but investing the money the right way is equally important. It is often said that you can grow your wealth in multifold if you know the right investing technique.

Hello Amiogs!

My name is Shipra, I am an avid blogger. I have started this channel to share my personal experiences. Today, I want to talk about financial literacy. You must be hearing a lot these days that do not invest in FDs, its a traditional method of investing, it erodes your capital and blah,. blah.. okay then, what are the other ways of earning passive income from your existing wealth..

The immediate answer will be the Stock Market.. but again not everybody is pro the stock market. And, there is a popular misconception that it's a gamble, well, it is.. but not for long-time investors. Off course, it does require a certain level of qualitative and quantitative skills to make big here. 

( Here is one pro tip, if you are a beginner just invest in large-cap companies and do not read any other content available on the Internet. Instead, start reading the P&L statements of companies in your free time.  cultivate this as your hobby.)

Okay if not FDs,  not Stock Market then Crypto? Maybe.. but I have zero experience here.. neither I would recommend or share any sight. Anybody among you if you have anything insightful to share.. feel free to leave a comment below right underneath this article.

Mutual Fund is yet another term that is often suggested. When I heard this term few years back.. I was very excited about it, but after some research on the Internet, I come to know what mutual funds are and how this is the better option over stocks, especially if you are a newbie in the investing space considering the volatility of the market. 

Well, I do not wish to bore you with mutual funds Gyan.. there are expert people out there, go follow them if you wish to learn the basics. I personally follow Rachna Ranade.. As I said, I want to share my personal experience.

When I actually made my mind that I wish to start investing in mutual fund.. the biggest challenge I face that how to purchase mutual funds.. ? which financial body issue mutual funds? Is it banks where we open our saving account? can I buy it like I buy a top or jeans from Myntra.. the answer is yes! Trust me people give you a lot of Gyan, but is this very basic question that nobody wants to address..

Here are ways through which you can buy a mutual fund:- 

Demat Account

You can mutual funds from your regular trading and Demat account. But, here the challenge is- you might need to submit POA( power of attorney) to your securities agent. For example- let's say you have a trading account with HDFC securities, then you have to give the mandate to the agent(HDFC securities in this case) buy a mutual fund on your behalf. This might not be a comfortable experience for many..  

Asset Management Companies( AMC)

This is yet another trusted way to buy a mutual fund, for example, let's say you want to buy Tata Mutual Fund- then you have to create an account on the Tata Mutual Fund website. In fact, every time you go to new AMC- you would require to create an account. This is actually a very tiring process and might discourage you from experimenting in the mutual fund space because every time you would require to create a new account.

CAMS

CAMS is the obvious answer if you are keen to invest in mutual funds and want to experiment with different financial products offered by different AMCs without opening a new account every time. This is a kind of one-stop platform to buy mutual funds from various AMCs without opening individual accounts with each entity. 

Plz note, you cannot buy a mutual fund from banks or any other NBFCs. You need to follow either of the above-mentioned methods. 

Hope you like the above article and you learn something new for sure.. :) plz do not leave without sharing your feedback!

Looking forward to read your reviews.. 

Watch detailed video here-

https://ai.invideo.io/watch/PXA8JHmAzx9


 


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