SBI Mutual Fund

How to Invest in SBI Mutual Funds through INDMoney?

Eligibility: In order to invest in SBI Mutual Fund schemes you must fulfill either of the following eligibility criteria:

• Must be Individuals of 18 years and above with having their domicile in India.
• Indian Partnership Firms and Hindu Undivided Family (HUF) must be represented by the Karta.
• Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs) must have the approval of the Reserve Bank of India (RBI).
• Association of Person (AOP) /Body of Individuals (BOI), Public Sector Undertakings, Body Corporates, and societies, must be authorized as under the Societies Registration Act, 1860
• Religious, charitable, and private trusts, must adhere to the provision of the Income Tax Act, 1961 read with the Income Tax Rules, 1962
• Trustee of private trusts, must have been permitted to contribute to the mutual fund schemes as per their trust deed.
• Banks and other Financial Institutions.

** Prerequisite Documentation:**

• The applicant must have an existing bank account.
• The applicant must be KYC Compliant.
• The applicant’s Savings Bank Account status must be preferably Single or Either/Survivor.
• The applicant must sign the Account Opening Application Form in case he intends to invest directly through Bank account.

Investing via INDmoney: The other convenient method of investment that an applicant can choose for investing in SBI fund schemes is through a distributor. This method is comparatively more comfortable than that of direct investment, as you shall not need to engage in the hassle of investment. But it should also be noted that such mode will add to your cost owing to commission charges. To invest through a distributor, the investor simply needs to file an application and provide him with the required details. Remember to specify your investment goals to enable him to make the best investment for you.

The investor can also choose the other most preferred method to enjoy a simple and efficient way of investment in SBI Mutual Fund schemes i.e. by creating an account in INDmoney

• INDmoney provides the most consistent and innovative ways to process mutual funds investments.
• It intends to create a convenient and hassle-free space for investors.
• An investor can start his investment with INDmoney following just a few steps with almost zero commission on the direct funds.
• INDmoney does not cost you a transaction fee, involves no paperwork and helps you to start your investment journey in the simplest way possible.

To invest in SBI fund schemes through INDmoney, an applicant needs to follow the following process:

• To start with, he must have an INDmoney account to invest in the SBI mutual funds. To onboard a smoother process, it is suggested to download the INDmoney app,
• The next step is to log in or sign in to your INDmoney account and complete the KYC process.
• As mentioned above, the investor needs to be KYC compliant and is in possession of valid documents such as his PAN card, Aadhaar card, Voter ID card, driving license, and other necessary related documents.
• Then he needs to link his bank account with his INDmoney account.
• The investor can then easily proceed to select his desired mutual fund scheme. He can also compare the selected SBI Mutual Fund scheme, with the given indicators such as the risk-return ratio, past market trends, etc. through the comprehensive tools as provided by the INDmoney.
• The investor then needs to choose the preferred payment system with either an SIP or through a one-time lump sum amount.
• The investor then will be alloted the SBI Mutual Fund units of the selected scheme based on his investment amount as well as the NAV of the cut-off time, at most within 3-4 working days.
• Select a scheme that offers substantial returns in the long term with the wide spectrum of options available. Do not choose too-less diversified or too-much diversified funds to find a perfect balance for high returns.
• Always invest in schemes based on your investment goals and not the market trend. It is always advisable to select a scheme based on the duration you wish to invest in as well as the financial goal that you wish to achieve.
• The returns provided by the selected plan must have the potential to beat inflation in the future. Some funds may provide high returns but they may not be able to curtail the cost of inflation while taking the time-value of money into the account.
• In case if you intend to invest in short-term options, choose plans that provide high liquidity and easy withdrawal options to avail of the short-term advantages. However, do not indulge in funds in such a case which shall cost you exit-load
• The risk appetite must be taken into consideration while investing in any plan. Investors need to be cautious about the market turmoil before investing in any SBI Mutual Fund scheme to not end up in losses.
• Always opt to invest in tax-advantaged funds like ELSS mutual funds, if you wish to not fall under the high-tax bracket. Plan to invest in funds with relevant tax-saving plans.

Given the ease of the Systematic Investment Plan, an investor can now easily choose to invest his funds seamlessly through his chosen interval method i.e. monthly, quarterly or annually. This shall however be subject to the terms and conditions that have been mentioned or provided by the SBI fund. An investor is advised to choose and set up his SIP interval plan according to his financial commitments and goals and therefore conveniently adhere to the cost of investment in mutual funds, even when the market conditions are highly volatile.