Do you also want to invest in Axis long term equity fund?
You have chosen the best equity linked saving scheme (ELSS). Within a short period of 5 years, Axis long term equity fund has become the best tax saving mutual fund. It is not a one-day performance, but, Axis Long Term Equity’s outstanding performance is going since last three years. In spite of being on top since last three years, I just ignored this fund because of the short history. But, now its capability is beyond doubt. It is a must choice for the tax saving. In my list of Best ELSS of 2016, the Axis Long Term Equity Fund Growth is at the number one. This scheme is from the fund house of the Axis Bank.
Fortunately, online investment in Axis long term equity fund is easier than investment in other tax saving mutual funds. Today, I will tell you the process of online investment in the Axis Long-term equity fund. If you invest through the given method you will also get the superior return.
Direct Investment In Axis Long Term Equity Fund- Step by Step Process
To invest online in Axis long term equity fund, you must have completed the KYC process. If not, complete the KYC process from any of the KYC Registration Agency. Before going through the online investment process, you must keep some information handy.
- Cheque Book – To fetch the IFSC code, account number and MICR code.
- Net banking Credentials – If you pay the investment through the net banking. You should recall the user ID and passwords.
Steps To Online Investment
2. On the next page, you will see the process of online investment in Axis mutual fund. You will see the 4 steps, but actually you have to go through the some more pages.
Don’t procrastinate, filling the form is a one-time process. After this, your further investment would be very easy. If you opt for the SIP through ECS, you need not to even think about the periodic investment. Click on the ‘Proceed’ to go forward.
You will also see a note on this page. The note says, you must send printed application form to Axis mutual fund registrar the Karvy. Along with the form, you need to send signed copy of PAN and a cancelled cheque.
3. Now you have to go through terms and conditions.
- You must comply that you are not a resident of US or Canada. Please tick the check box.
- You must be the resident of India to apply online for the axis mutual fund investment.
- There are two more check boxes as usual in any form for the declaration and terms and condition. You can read terms and condition by clicking on the hyperlink.
Finally, you must click on the ‘I Agree’.
4. Now you have to give some basic details about yourself. In the first option, you have to tell whether you are the citizen of India or NRI. Indian citizen should choose the ‘Resident‘ option.
The mutual fund account can be also opened in the name of the proprietary business, minor or HUF. If you are opening the personal account choose the ‘individual’ option.
If you want to open a joint account with Axis mutual fund you should choose so in the mode of holding column. Otherwise, choose the ‘single‘.
In the next columns, you should fill your occupation, Full name, Date of birth mobile number and email ID. complete the form and click on proceed.
5. On the next page, you should give some detailed information about your address, bank details and scheme details.
You will see the section on personal details which is pre-filled. If you want to add something, you can do it here.
Leave the FATCA details as it is. Since you are the resident of India, you need not bother about this.
Give your accurate address in contact details section. You must give the PIN code as well.
6. To fill the Bank Details section, you need the chequebook. Your cheque leaf contains all the required information. Give the bank name, branch name, address, city and account number in the respective columns. This information is taken for the mutual fund redemption. After the redemption instruction, your money would be deposited the given account. Please double check the account number because it is very crucial.
7. Now you need to choose the mutual fund scheme details. As you are investing in Axis long term equity fund, you must choose it in the scheme drop-down.
Your plan may be Axis Long Term equity Fund Growth or Axis Long Term Equity fund Dividend, But it should be the direct plan. The direct plans give a better return. Axis Long Term equity Fund Dividend plan give you dividend time to time. But, dividend also reduces the NAV.
The growth plan gives you whole amount only at the time of the redemption. Since the Axis long term equity is a tax saving mutual fund you can redeem the investment only after the three years.
In the ‘option’ column, you will have only one option choose it and proceed.
In a tax saving mutual fund you can invest even Rs 500. Choose your first investment amount. It can be any amount, above the Rs 500. You can start with Rs 500. After everything goes smoothly, you can further increase your investment.
8. Now you should give the payment option. This can be a different bank, you need not worry about this.
You must give the nominee details, However, you can leave it blank.
In the broker details section, you should take utmost care. You must choose the ‘Direct’ button as you are investing through the direct mode. Investment through the direct mode gives you the better return.
The broker code should remain 00000. Finally, tick the checkbox and click on ‘Submit’.
In the confirmation page, please go through all the details and check whether broker code is 0000 or not. Click on the confirm and go to the next page.
on the next page you will see your transaction request number. Note it down for the future reference. Now you should get ready for the payment. Take out your net banking user ID and password. Hit the ‘Make Payment’ button.
You would go to bank’s page. In my case, it was ICICI Bank.
After the payment, you will get the option of the registering into the axis mutual fund portal. You should opt this as you can track all the investment in future. Also, any other investment in Axis bank mutual fund schemes would be very easy.
Now you will receive the soft copy of your request form in your mailbox. take a printout of the form and sign it. Along with this form you need to send the signed copy of KYC letter and Cancelled cheque.
You can check your status of KYC from the camskra.com or cvlkra.com. The status check printout will also work instead of the KYC letter.
Also, take a copy of you PAN card and sign it. You have to send all these documents to Karvy. The address must be given in the form and inside the email.
Must Read: Best ELSS to Invest in 2016
After few days, you will receive the confirmation message in your mailbox. Now you can invest any amount through the Axis mutual fund portal.
You can also track your Axis mutual fund application status online. Check it and don’t delay for further investment. Axis long term equity fund has proved itself the best equity linked saving scheme, you should profit from it.
Do you still want to invest in Axis long term equity fund through the distributor? Or, you find the online process easy? What is your preferred mode of mutual fund investment? Do tell me.