ICICI Bank deals with many different schemes of mutual funds, and you can easily get decent returns by investing in them. As it has a vast customer base, the bank always tries to hold its reputation. Apart from the customers of the bank who have different types of accounts in the ICICI bank, there are mutual funds, investors, too. An investor gets the opportunity to choose a mutual fund scheme according to his investment goals and the risk appetite. Moreover, if you invest in an ICICI Prudential mutual fund, you will always have a clear idea of the assets the fund is dealing with.
ICICI Prudential mutual funds: Online Application
Keeping the convenience of investors in mind, ICICI bank has recently introduced its online platform, where an investor can easily apply for a mutual fund scheme. If you are thinking to invest in the mutual fund anytime soon, you can consider checking the setup of ICICI Bank. Here you can get all the details regarding the process.
Entering the Personal Information
An investor can visit the official website of ICICI Prudential and start the process of application. The site is well-structured, and you can easily initiate the application process for investing in the mutual fund. The first step comprises entering personal information. You have to fill up your details like name, DOB and the PAN number. Always make sure that the data being submitted is error-free. If any situation occurs, your application will get rejected.
Selecting the Fund
The second step is most crucial when it comes to applying for investing in ICICI prudential mutual fund. You have to select the fund scheme that you desire to invest in. This decision is to be taken very carefully. You have to think about the risk related to the mutual fund primarily. The asset of your fund scheme will depend upon the risk factor of the fund.
If you are into mutual fund investments for the first time, it will be better to invest in the moderate risk funds. You can expect such funds having debt assets and hybrid assets. In the ICICI Bank, you can get such schemes that deliver you great returns over a period of five years. Always check the return percentage when you select a particular fund scheme to invest.
Enter Nominee and Bank details
The nominee and bank details are to be entered by you. When entering these details, you must have the proper paperwork references with you. The ICICI Bank cross-checks the details about your nominee and bank. You might get some exciting conveniences if you already hold an account with the ICICI Bank.
The bank account details are vitally important as the bank will associate them with your mutual fund. If you face any problem in managing a mutual fund, you can call a bank executive and clarify your problem.
Complete the account
ICICI bank allows the investor to create an online account to help to manage your transactions with the bank. You can do so by mentioning a valid username and password. This process is entirely similar to the procedure of making any online account. Once the account is complete, you can comfortably manage your mutual fund.
Invest the money
Investing money in a mutual fund online with ICICI Bank comes as the last step when you have completed all the above steps successfully. You can select a specific option for payment when investing in a mutual fund.
Apart from the above steps, the ICICI Bank also has a platform for the pre-existing mutual fund investors. If you are a mutual fund investor, you can get into your dashboard just by entering some necessary data. To log in to the dashboard, you can enter your folio number and the detail of your broker.
Moreover, in the case of changing the investment scheme, you can also visit the web platform for pre-existing investors.
Precautions to take before investing in a mutual fund
There are some effective precautions that every investor must take before investing in a mutual fund. Some of them are mentioned here:
- Give a thorough read-up of the offer document.
- Ensure making no mistakes in the application form.
- Get access to the fund manager and test his excellence.
When you choose the ICICI Prudential mutual fund, remember that you are choosing one of the best banks in the country. As an investor, you can get clear information about the asset managers who will pilot your mutual fund investments. Furthermore, all the ICICI Bank mutual fund pools are quite huge. Thus, there are lesser chances of incurring a loss in case of the returns. Even if an unexpected situation occurs in the market, an investor can get reasonable returns. You must always expect your asset manager to be keen to handle the fund with such tactics that the group of mutual investors gets consistent returns.