PAN is mandatory to invest in mutual funds, though government has given a relaxation of investing an amount of up to 50,000 per year without PAN card also, by providing any other id proof like Aadhar card etc.
There is specific fund category, known as ELSS (Equity linked saving scheme) while investing in these funds, you can get an income tax rebate under section 80 C up to maximum amount of 1.5 L per year.
Mutual Funds Industry is a highly regulated industry under SEBI, the watchdog for the same. It is mandatory for each and every Mutual Funds Company to publish a fact sheet at the end of every month wherein, the every minute detail is mentioned regarding the portfolio. Apart from it every day NAV (Net asset value) of the portfolio is also released.
Yes. It is not mandatory for you to come and meet in person in order to start any investment scheme. With the advent o technology, one can provide documents online and get the investment started.
No. Mutual Funds investments are subject to market risk. However, with proper guidance and counseling on the choosing of funds one can avail benefits in long run.
It will be treated same as the cheque bounce case when there isn’t enough money in your account. For that particular month units won’t be allotted to you and your bank will charge you with a penalty. However, this doesn’t have any repercussions on your existing and future investments. Next month the money will be deducted again from your account on the pre determined date and you’ll be allotted units.
Every month the mutual funds company sends you an account statement on your registered email address confirming the exact value of your investments. Apart from that there are many other ways such as visiting CAMs website or downloading CAMs app for checking the status of your investments. Also, the customer can directly login to the company’s portal. Our website also has a section where you can directly login with your client id and check the status.
It is a onetime mandate, given by the investor to the bank for auto-debit of his SIP installments and lump sum payments as and when presented by the investor to the mutual funds company. Generally, it is advised to fill a maximum amount in this mandate so as investor can execute all his future transactions without hassle of issuing cheques and signing forms again.