Scripbox | 8 Easy Steps To Start Investing In Mutual Funds

Contents

Mutual Funds are one of the best investment options available today. In India, the Assets Under Management (AUM) of the mutual fund industry grew over 42% in FY 2017. Yet it is strange to see that so many people still stay away from investing in mutual funds. They are missing out on a golden opportunity to grow their wealth through the power of compounding.

The reasons for staying away may be attributed to unawareness as to how one can start investing in the first place. Does it require a lot of research and groundwork to get started? Well, the answer is no.

With online portals like Scripbox, mutual fund investment has become very simple for the common investor. Scripbox will do all the research for you and give you the best-recommended funds from the industry. Not only that, but they will also keep a continuous watch over the performance of your portfolio. They will let you know from time to time if in case, any fund performs below par and you need to change to a new one. Now isn’t that wonderful? Then why stay behind and miss out on this great opportunity?

Follow the below simple steps to create an account in Scripbox today and start investing in the biggest investment revolution right away.

Account creation in Scripbox

Initial steps

Go to Scripbox home page
Click on “START INVESTING” button at the top right corner
Enter email in the box and click on “GET STARTED”
Fill in password, full name and click on “Sign Up”
Enter DOB, gender and mobile number details. Click on “Next”
You should now see a congratulations page confirming that the initial account setup is done. Click on the “Next” button to proceed.

Setup purpose and objective

On the purpose page, select the first option “Get started with mutual funds” and click on “Next”
Based on your comfort level with mutual funds, select any of the given options and click “Next” to proceed
Select the objective as to why you want to invest in mutual funds. It can be saving for long term goals, planning for an expense in the coming years or creating an emergency corpus. I selected the first option
Based on the purpose and objective for which you want to invest in mutual funds, select the category of money accordingly from among the four. In my case, I want to invest for my long term goals, hence I selected the long term wealth category. Once you have decided the category, click on the corresponding section to move further
On the next page, you will see a description of the category that you had selected on the previous page. Read through it carefully and understand it. Click on Next.

Provide KYC details

For investing in mutual funds, the Government has made it mandatory to have all the KYC (Know Your Customer) documents ready. Typically, these consist of common ID proofs like PAN card. Aadhar card, Passport, etc. On this page please verify your KYC compliance and status. Keep your PAN card ready at hand and click on “CHECK KYC” button
On the next page, enter all the required details like PAN card number, salutation, name, etc. and click on “Next”
On the next screen, you need to link your bank account with the Scripbox account. The reason for this is that at the time of investments, Scripbox will automatically debit the required amount from your account through a pre-authorized bank mandate. Similarly, when you redeem your investment, the money will be directly credited to this account. Click on “LINK ACCOUNT”
On the next screen, enter all the required details of the bank account and click on “Next”
You will be asked to enter your address and relevant proof on the next screen. Fill up all the details and click Next to proceed.

Almost there!

You will be required to enter some more details related to your profile like country and city of birth, occupation, etc.
On the next screen, please enter your marital status and your parents’ names
If you are related to a politically exposed person select the checkbox otherwise leave it blank and proceed forward
On next screen, upload a copy of your bank cheque or statement and then click on “Upload”
Add your nominee details on the next screen and click Next
If you are not paying any taxes outside India, simply select “No” on the next screen and click on “Next”
On the next screen, finally, review that all the displayed details are correct
If all the details are fine, click on “Submit”.

Final steps

Once you click on “Submit” an auto-generated mail will be sent to your mail-id with a 6 digit code. Enter that code on the next screen to complete the email verification
Once email verification is done, you will be redirected to the next screen and account creation success message will be displayed at the bottom.

Also Read: SIP your way to mutual funds in 2018 | Buy low and sell high

Setting up your first investment

After successful Scripbox login,on the home screen click on the “Start Investing” button
Select the category of Scripbox mutual funds that you want to invest based on your needs and click on the corresponding section
On the next page, read the details of the chosen category and click on the invest button at the bottom.

Choose a mode of investment

Select the mode of investment in mutual funds. There are two options here, either you invest a small amount on a monthly basis (SIP) or you invest a large amount at one go (one time or lump sum). Based on your choice, select the investment mode. I always prefer choosing the SIP mode as it helps to stay focused and develop an investing habit in the long term
For example, if you want to invest through SIP in long term equity mutual funds then on the next screen, you will be asked to enter the monthly amount that you would like to invest. Enter a suitable amount say Rs.5000 and click on “Next”.

Recommended funds for investment

On the next screen, Scripbox will show a list of recommended funds where you can invest your money for the long term. They select these funds after rigorous research of all the existing funds in the market considering all factors like returns, past performance, AUM, etc. The funds recommended by Scripbox are some of the best in the industry
Review the list of recommended funds and the split-up of the SIP amount in each of them. Your monthly SIP amount will be split up and invested accordingly in each of these funds.

Starting date and duration of investment

Click Next to proceed. On the next screen, please select the date from which you want to start the investment
Provide all the details like starting month, date and the duration for which you want to invest
Finally click on “Confirm”.

That’s it, with this you are all set to start on your first investment journey. Just keep in mind that you will have to stick to the investment plan and keep investing on a regular basis. If you are able to do this consistently over the long term then you can create amazing wealth for yourself and your family. The longer the investment period the better it is. May the Force be with you!!