Mutual funds are a popular investment option for individuals looking to invest in the stock market. Zerodha, a leading online discount brokerage firm in India, offers a platform for investors to buy mutual funds. Here are the steps to follow to buy mutual funds in Zerodha:
Step 1: Open a Zerodha account
To buy mutual funds on Zerodha, you must first open a Zerodha account. The account opening process is simple and can be completed online by visiting the Zerodha website.
Step 2: Complete the KYC process
Once you have opened a Zerodha account, you will need to complete the Know Your Customer (KYC) process. This involves submitting your personal and financial information and providing copies of your identification and address proof documents. Zerodha has made the KYC process easy and can be completed online.
Step 3: Log in to your account
Once your account is opened and KYC is completed, you can log in to your Zerodha account using your username and password.
Step 4: Select the mutual fund you want to buy
To buy mutual funds on Zerodha, you will need to navigate to the “Mutual Funds” section of the platform. Here, you can browse and select the mutual fund you want to invest in. You can use the search bar to find the specific mutual fund you are looking for.
Step 5: Place your order
After you have selected the mutual fund you want to invest in, you can place your order by entering the amount you wish to invest. Zerodha offers different types of orders such as Lumpsum, SIP, STP, and SWP. You can choose the order type that best suits your investment goals.
Step 6: Make payment
After you have placed your order, you will need to make the payment to complete the transaction. You can make the payment through Netbanking, UPI or through debit card.
Step 7: Monitor your investment
Once you have bought the mutual fund, you can monitor your investment on the Zerodha platform. You can track the performance of the mutual fund and make changes to your investment portfolio if necessary.
In conclusion, buying mutual funds on Zerodha is a simple and easy process. By following the above steps, you can invest in mutual funds and start building your investment portfolio. It is important to remember that mutual fund investments are subject to market risks, and investors should do their research before investing.