Recently i read an article saying that "students can invest in mutual funds through SIPs "?can anyone explain

Question

i have no pan card......i'm in india.....effective way of investing my pocket money

Answer 1

yes that is true that students can invest in mutual funds...but for that you firstly need to have a PAN as that is one of the sole things to have without which you can nnot invest in mutual funds...and as for PAN is concerned it can be applied by just any one...ir respective of the age or earning status...so all you have to do is spen around 62 RS and apply for a PAN card and then can go into invest in mutual funds...wish u a happy investing ahead...

Answer 2

The regulation concerning MF industry does not distinguish between students/working people. You must be 18 or above to invest independently. If you are below 18 your guardian has to sign the documents.

For making investments in MFs you must hold a PAN card-in case if you are an adult. You can invest through your guardian if he has a PAN card. PAN is mandatory for all MF investments.

As a first step apply for a PAN card - you have to submit identity  proof and address proof alongwith the application. Usually it takes 15-30 days.

have a nice day !!

Answer 3

Market is down today, so please hold all stock and watch the current trade. Time come to invest systematic in mutual fund. Select from best mutual fund.

http://shaktibanna.blogspot.com/2008/07/...

Answer 4

You can select a good mutual fund to invest in SIp mode (Systematic Investment Plan) SIP mean, you are authorizing the mutual fund company to automatically withdraw a certain amount in a timely manner. it may be Rs. 500 in the first week of next 10 months or 6 months to automatically withdraw and invest in MF. they will send you the statements time to time to know how much you have invested and how much MF unitis you have.

You are required to contact a good MF company to know more about invest in MF in SIP mode. They will guide you properly. It is very very simple to understand and start investing. You can extend or stop this SIP at any time if you want.

Just contact the MF office to confirm the requirements of PAN card for students. It is must for all other mutual fund investors.

does this makes sense

Answer 5

see you can invest in sip but as you do not have your PAN i would suggest if only you are major than only you can start investing unless you can ask your father to do the process of filling up the form and starting an account of sip for you. And be the nominee of the account or you being the minor can start up a sip account along with you father as your guardian. this are the only ways left and would suggest that apply for the pan and the acknowledgement of the same would also work for the sip.

Answer 6

absolutely there is no chance for investing without PAN. You can obtain a PAN card instead.  Applying for PAN card does not mean that you will come under the purview of Income tax.  It is a simple procedure and costs you only Rs.71/- . You need to have a address and Identity proof and a photo.