I want to start investing Rs 1,000 a month through SIPs in five mutual funds. Please suggest some good funds and also how do I start it. Can I do it through net banking with my savings accounts as I don't have a demat account.
- Ajay Shukla
You come across as a new investor. We would suggest you don't go overboard with five funds at this stage. You should instead consider starting with two good balanced funds such as DSPBR Balanced, HDFC Prudence or Reliance Regular Savings Balanced and spread Rs 2,500 in each of them. Mutual fund investing does not require you to have a demat account, except for investments in exchange traded funds (ETFs). There are many online options available to make your investment, including those of mutual fund companies.
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This article was originally published on November 22, 2010.
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