You need only one bank account to transact in any mutual fund
14-Dec-2016 •Research Desk
I am a first time investor looking to invest in different mutual funds. Each fund house is asking for opening an account in their respective banks. Is it mandatory?
It appears that you have been misguided. There is no such requirement for you to open a different bank account or hold multiple accounts to be able to invest in different mutual funds. With just one bank account you can invest in and redeem your money from all mutual funds.