Thinking of investing in mutual funds? While there are numerous mutual funds in the market in which you can invest, ICICI MF is one of the most recommended mutual funds in which you should invest as it gets you good returns alongside other benefits.
Let us know more about the features and benefits of ICICI MF before learning the process of investing in it.
Free Of Charge:
For all the customers who already have an account with ICICI, investing in ICICI MF is fairly easy as the service is free of charge. In case, you are not a customer of ICICI, a minimal fee would be charged for opening a Mutual Fund account with the bank. The process is entirely hassle-free and you can seek assistance, either online or by visiting the nearby ICICI bank branch.
ICICI mutual funds allow users to redeem the units online. The redeemed amount is reimbursed to the savings account of the account holder. Most of the banks offer this facility but the ICICI users will be able to redeem the amount instantly, once this service is initiated.
Tracking Of Mutual Fund Portfolio:
You can track the progress of your ICIC MF portfolio online as well. The process is fairly easy and is self-explanatory on the ICICI website. Moreover, online help is also available in the form of a call centre support and in case you feel that your mutual fund is not performing optimally, you can immediately switch the mutual fund or redeem the amount. You can also track the NAV and know the status of the amount invested and the current amount which the fund is paying.
The bank will also provide the customers with a registration form in which all the necessary details are to be filled. The nominee has to provide his address and other details in this form. After filling the form, he can submit the same to the bank along with all the required documents which are listed below.
Documents Needed For Investing In ICICI Mutual Fund
The process of opening an ICICI MF is much similar to regular bank account formalities and you would need a set of documents mentioned below to open the account.
1. PAN Card
To open an ICICI MF account, a copy of the PAN card is needed along with the original one for verification. Until recently, the PAN card copy had to be attested by a gazetted officer. However, with the change in rules, self-attestation of documents is valid. Hence, you will need to submit a copy of the PAN Card which is self-attested.
2. KYC Registration Compliance
You also need to submit the filled KYC form along with the mutual fund form at ICICI bank. You will need a self-attested copy of the PAN card for filling the KYC form. In addition to this, a self-attested copy of address proof and a copy of the latest telephone bill is also required. In case you do not have a telephone bill, you can submit a copy of the electricity bill, passport copy, passbook copy, bank account statement or a copy of driving license or ration card also.
3. KYC Acknowledgement Slip
Once you have submitted a copy of PAN card and have completed the KYC registration, the documents are verified by the bank. The bank will issue a KYC acknowledgment slip which has to be submitted while opening the Mutual fund account.
In case when you are opening a mutual fund online, you can also submit a print of KYC screen status. The bank after verification of all these documents and provided details will open your mutual fund account.
Invest in mutual funds and save a worthy amount for your future needs. It will definitely help in tough times.