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I want to invest my money in mutual funds so do i need a demat account? |
I want to invest my money in mutual funds so do i need a demat account? no.. but i think you need a pan card if u invest more than 50,000 No, You don't requiree it. But as per new Law you requir to have MIN ( Mutual Fund Investor Number) You can get the same from any mutual fund company. No Need You donot need to have a Demat Account for investment in Mutual Funds. You can fill a form at any of your local bank branch and they can act as your agent. You will receive the Statement for Mutual Fund every month. You can also invest in SIP (Systematic Investment Plan) wherein a fixed amount is debited every month from your savings account and invested. This is advantageous because you get the NAV of that month No you don't require a Demat account for mutual funds. You just need to give the regular bank details (account number and name under which you have the account) and the transactions are usually carried out through an agent or firms which deal with financial investments. your money will be deposited in the account whose details who have provided. dont go 4 MF Hi, i suggest a great site with plenty of Issues related to your Investing and everything around it. it also provide clear and accurate answer to many common questions. investment in mutual funds dont need a demat account. the purpose of a demat account is to dematerialize your investment in shares. you may approach a mutual fund company or dealer who will help you in investing in mutual funds. if you plan to invest more than 50000, you would need your PAN number and anything less than that would need basic documents like your bank details, address proof and photo proof. |
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