Opening my first mutual fund account: What you should know

When I first started working 10 months ago, I had planned on having two different bank accounts - one for savings and one for daily payments - to manage all my finances. I wanted financial management to be simple, and investing did not seem simple. I was reluctant to start a mutual fund for these reasons: There's not much to save when receiving a fresher's salary, less still to invest. There are over 1,600 mutual funds in India. It's hard to choose when you don't know anything about the industry. KYC processes are dreadful. The two-account plan should have worked - except bank servers have a persistent habit of being down. Soon I was using my savings to make payments and blurring the lines between the purposes of the two accounts. I reached a state where divine intervention was requir

This article was originally published on March 15, 2025.