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Should I apply for CAN?

If you obtain a Common Account Number or CAN from MF Utilities, you can transact in multiple mutual funds using a Common Transaction Form and making a single consolidated payment for purchases

I am new to mutual funds. Should I apply for CAN from MF Utility? How is CAN beneficial?
- Sonal

If you obtain a Common Account Number or CAN from MF Utilities, you can transact in multiple mutual funds using a Common Transaction Form and making a single consolidated payment for purchases. If you have CAN, you also don't have to fill up an Account Opening Form every time you transact in a new mutual fund. You can also eliminate duplication of procedure and documentation and update all changes in one place. CAN will also facilitate registration of one bank mandate for multiple SIP registrations using a CTF in schemes across mutual funds.

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