Is a Demat account required for SIP?
- Asked By
- Updated On:24-Feb-2021
- Replies:1
Short Answer
No, SIPs doesn't require any demat account. One can start SIP by completely minor documentations such as KYC, FATCA etc.
Detailed Answer
No, you don't need a Demat account to invest in a mutual fund, including SIPs. Demat accounts are only mandatory for executing online transactions of shares on the stock market.
If you are just looking to invest in a SIP, you can do so by directly visiting the website of the fund you are looking to invest in. Apart from that, you can also have a broker or financial advisor to help you sort out the initial process to start a SIP.
Nowadays, various platforms are available where you start your SIP on your own by completing very minor formalities such as KYC, FATCA, and so on.
Ask Your Query for FREE, Get quick answers from our FINTRAKK community!
Discussion (0)
No, a demat account is not required for SIP or Systematic Investment Plan because a SIP can be purchased directly from an AMC (Asset Management Company), a third-party financial advisor, your bank, or other online platforms.
Paytm has added its name to the stockbroking industry all through its new platforms “Paytm Money.” The platform was rolled out to customers earlier in September 2020 and had since then exploded amongst traders/investors to see the offerings set up by the company.
Consolidated Account Statement or CAS is a single account statement which consists of all the financial holdings and transactions in an investor’s portfolios.
Upstox is a great discount stock broker that provides excellent features at a lower cost. Some of the benefits of using Upstox are margin against shares, free equity delivery, ultra-low brokerage, bracket order, and cover order availability, mutual without any commission fee, excellent trading platforms, and more.
You might have read about different stock brokers in India. Here I'll review two of the most popular discount brokers in India: 5Paisa v/s Zerodha Comparison.
I was just going through some stock broker reviews. So, I thought of sharing my opinion, A side by side Comparison of two popular stock brokers: Sharekhan vs. Zerodha.
Investors looking to invest in mutual funds without a Demat account can invest through financial institutions, independent financial advisors, AMC, and online portals.
No, a Demat account is not required for investing in mutual funds in India. However, having a demat account can be beneficial for some investors.
There are several options to invest in index funds. It can be done through online portals, agents, demat account and AMC website.
No, a Demat account is not required to invest in mutual funds in India. Instead, there are a number of other options, such as Asset Management Companies (AMCs) or offline distributors through which you can directly invest in mutual funds without opening a demat account.