SIP(Systematic Investment Plan): Work, Process, Document & More

SIP(Systematic Investment Plan) is the best plan to invest in Mutual Funds. You can select your favourite fund to invest in. To invest in a particular fund first, check whether your KYC(Know Your Customer) registered or not under Mutual Fund Transfer Agency. There is five agency of Mutual

Funds, in which under one of them, your KYC must be registered:-


If you don’t know how to check, if you are registered or not, you must follow these steps:-

  1. Search on Google ‘CVLKRA’
  2. Open the first link
  3. Click on KYC Inquiry
  4. Fill your PAN Card number and the Captcha and submit
  5. Check the status below.
  6. If it says Registered then you are and if says Not Available, then you are not Registered.

If you’re not registered under any of them, you have to fill KYC form, to get registered. 

Documents required for KYC are:-

  1. Photo
  2. PAN Card
  3. Aadhar Card

Documents required for SIP:-

  1. Photo
  2. Cancelled Cheque(If first time investing)
  3. Nominee Details
  4. Amount Cheque

 Now the question erupts in which fund, we want to invest. A lot of Funds available of each company like Balanced Fund, Hybrid Fund, Equity Fund, ELSS, Midcap, Multicap, Small cap, Large Cap, and more. It makes us confuse. To check which fund is working good and making a good return, check its NAV(Net Asset Value). Money Control is the best site to check the status of funds from years to today. Search your fund and check its status of year ago, four months ago, two months ago and now.

SIP can start with 500 rupees too, it can be monthly, quarterly, yearly, weekly or daily, of your choice. You can cancel your SIP anytime but at least after a year or switch it to one scheme to another and also do addition purchase.

Funds available in the market of companies are:-

  1. Aditya Birla
  2. HDFC
  3. Kotak
  4. L&T
  5. PPFAS
  6. Mahindra
  7. SBI
  8. TATA
  9. IDFC
  10. ICICI
  11. HSBC
  12. DSP
  13. Shriram
  14. Union
  15. Franklin
  16. Nippon
  17. Mirae
  18. UTI, and more.

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