Mutual funds are a popular investment option for those who want to diversify their portfolios and achieve long-term financial goals. Zerodha, one of India’s largest stockbrokers, offers a platform for investors to invest in mutual funds online. In this article, we will discuss how to invest in mutual funds in Zerodha, step by step.
Step 1: Create a Zerodha Account
To invest in mutual funds in Zerodha, you first need to create an account with Zerodha. You can do this by visiting their website, filling out the account opening form, and uploading the required documents. Once your account is created and verified, you can log in to your Zerodha account.
Step 2: Complete Your KYC
To invest in mutual funds in India, you need to complete your KYC (Know Your Customer) process. This involves submitting your identity proof, address proof, and other relevant details to a KYC registration agency. You can complete your KYC through Zerodha’s partner agencies or by visiting any mutual fund office.
Step 3: Choose a Mutual Fund
Once your KYC is complete, you can start investing in mutual funds through Zerodha. To choose a mutual fund, you can browse through Zerodha’s list of recommended funds or use their mutual fund screener tool to filter funds based on your investment preferences. You can also research the fund’s historical performance, fund manager, expense ratio, and other relevant factors before investing.
Step 4: Place an Order
After choosing a mutual fund, you can place an order through your Zerodha account. You can select the mutual fund and the amount you want to invest, and then confirm the order. You can also set up a systematic investment plan (SIP) to invest in mutual funds regularly.
Step 5: Monitor Your Investments
After placing an order, you can monitor your investments through your Zerodha account. You can track your mutual fund’s performance, view your portfolio, and make changes to your investment strategy if necessary. You can also set up alerts to stay updated on your investments’ performance.
Zerodha also offers a Coin platform for mutual fund investments, where you can invest in direct mutual funds with no commission or brokerage fees. With Coin, you can track your portfolio, view detailed reports, and invest in a variety of mutual funds.
In conclusion, investing in mutual funds through Zerodha is a convenient and straightforward process. By following the above steps, you can invest in mutual funds and achieve your long-term financial goals. Remember to do your research, choose the right mutual fund, and monitor your investments regularly to maximize your returns.