Documents required to invest in Axis Mutual Fund
The documents for KYC (Know Your Client) include proof of address and proof of identity. Here is a list of officially valid documents (OVD) admissible.
PROOF OF IDENTITY
- PAN Card (Mandatory)
- Voter ID Card
- Driving License
- Passport
- Aadhaar Card
- Any other valid identity card issued by Central or State Government
PROOF OF ADDRESS
- Voter ID Card
- Driving License
- Passport
- Ration Card
- Aadhaar Card
- Bank account statement or bank passbook
- Utility bills like electricity or gas bills
While these are some of the standard document list, submitting all of these documents is a tedious process and can procrastinate your plan of investing. This is where ET Money offers you a paperless and fast solution.
You can submit your KYC in under two minutes by uploading the photos of your identity and address proofs. This includes PAN and any one of Aadhaar, Voter ID, Driving License & Passport along with your signature, a selfie and a live video, authenticating your identity. ET Money's quick KYC application makes investing easy and hassle-free.
It takes about 3-5 working days to get your KYC verified as the verification is done by government certified agencies.
How to invest in Axis Mutual Fund's schemes?
You can invest in Axis Mutual Fund's schemes in three ways:
1. Through the Axis MF's website,
2. Through a distributor,
3. Through the ET Money platform.
The first option lets you invest directly in the Axis Mutual Fund's schemes through the official website. You must create an account on the website if you are a new customer. If you are an existing customer, you can simply log into your account with your user ID and password. However, if you are investing your money across mutual fund houses, you will have to repeat this process for every fund house. Moreover, you will have to track your investments with each fund house separately. This can be time-consuming and tedious.
Investing through a distributor is another way, but you would incur a higher expense ratio because the distributor earns a commission on your investment. As a result, it lowers your returns from the mutual fund schemes.
A much simpler, efficient, and effective way of investing in schemes from Axis Mutual Fund or any other fund house is through the ET Money platform.
All you need to do is sign up once and start investing in schemes from different fund houses. You can choose from various schemes of Axis MF, and that too, at a lower expense ratio since ET Money is a direct investment platform. You can also track your existing portfolio on ET Money. You can view all your old and new investments in one place, making it much simpler to track them and make better-informed decisions.
In addition to the above, the ET Money investment platform also offers valuable details like the fund's past performance, returns consistency, fund history, expense ratio, exit load, and other essential information.
How to invest in Axis Mutual Fund's schemes via ET Money?
- Sign up using email and OTP
- Select fund. Enter the investment amount. Choose the investment type: one-time (Lumpsum) or SIP
- Enter PAN, full name, and verify mobile number
- Enter bank account details and select payment mode. In the case of SIP, set up a mandate
- Follow the KYC process, which includes a selfie and a live video. Provide essential details and eSign
- The transaction is processed on verification of KYC documents
Frequently Asked Questions
Are Axis Mutual Fund's schemes safe to invest in?
As a company, Axis Mutual Fund is one of the largest Asset Management Companies (AMCs) in the country, regulated by SEBI. As far as safety is concerned, it will depend on how you define it. No AMC can guarantee the safety of your capital when it comes to market-linked investments like mutual funds. It is advisable to evaluate and choose a fund that suits your requirement.
Which Axis Mutual Fund's scheme is the best for the short term?
Typically in the financial industry, short-term investment is up to three years. Debt funds are suitable for this investment horizon. Before investing in debt funds, make sure you match your investment horizon with the average portfolio maturity of the fund. For example, short-duration funds hold securities with a maturity period of one to three years. Investors who wish to invest for a few days can consider overnight funds. Similarly, for a three-month investment tenure, you can consider liquid funds.
Are Axis Mutual Fund's schemes tax-free?
Mutual fund schemes are not taxable or tax-free; the gains you earn from your mutual fund investment are taxable, depending on the type of scheme and the investment period.
The Short Term Capital Gains (STCG) and Long Term Capital Gains (LTCG) taxes are calculated on your investment returns as per the following tax rates:
Mutual fund type | Holding period | Type of capital gains tax | Tax liability |
Debt-oriented funds | Less than 36 months | Short-term capital gains | As per the investor's income tax slab rate |
Equity-oriented funds | Less than 12 months | Short-term capital gains | 15% |
Debt-oriented funds | Greater than 36 months | Long-term capital gains | 20% with indexation |
Equity-oriented funds | Greater than 12 months | Long-term capital gains | 10% for amount exceeding Rs 1 Lakh |
How can I cancel the ongoing SIP in an Axis Mutual Fund scheme?
If you wish to discontinue your ongoing SIP with any Axis Mutual Fund's scheme, you must visit the official website or the online investing portal you used to create the SIP mandate. Log in to your account and select the investment you wish to cancel. Follow the instructions to stop the SIP. You can also visit the AMC branch and submit a request to discontinue the SIP.
- On the ET Money app or website, click on the profile icon and select the SIPs/MySIP option
- In this section, you will see all the ongoing SIPs
- Click on any SIP to open a detailed view
- On the top right corner, click the three dots, which will take you to the Modify SIP screen
- You will see the "Cancel this SIP" option below
- Once you click it, you will receive an OTP
- On entering the correct OTP, SIP will be cancelled
How can I get the Axis Mutual Fund statement?
One option is to log on to Axis Mutual Fund's website and request the statement. You can also go to CAMS Online or Kfintech and request a consolidated statement by email.
A better option is to get a statement on ET Money. Once you request a statement on ET Money, the platform creates a customised dashboard for you. You can then check your entire portfolio by logging onto ET Money whenever you wish.
On the website, after signing up, hover on the profile icon on the top right. From the drop-down menu, select the option "Track external mutual funds". Complete the ensuing process, and you can see your portfolio on the ET Money platform. This is a one-time process. Every time you want to track or check your portfolio, log onto ET Money, and it will display a dashboard that shows your entire portfolio and its performance.
To access on app, click the following link after logging in: https://etmoney.onelink.me/unJQ/oq97j0iz
How can I increase the SIP amount in an Axis Mutual Fund's scheme?
One option is to log on to Axis Mutual Fund's website and request the statement. You can also go to CAMS Online or Kfintech and request a consolidated statement by email.
A better option is to get a statement on ET Money. Once you request a statement on ET Money, the platform creates a customised dashboard for you. You can then check your entire portfolio by logging onto ET Money whenever you wish.
On the website, after signing up, hover on the profile icon on the top right. From the drop-down menu, select the option "Track external mutual funds". Complete the ensuing process, and you can see your portfolio on the ET Money platform. This is a one-time process. Every time you want to track or check your portfolio, log onto ET Money, and it will display a dashboard that shows your entire portfolio and its performance.
To access on app, click the following link after logging in https://etmoney.onelink.me/unJQ/oq97j0iz
You can increase Axis Mutual Fund SIP in two ways:
1. You can start a new investment with the increased SIP amount.
2. You can choose the top-up SIP feature when starting the investment. The top-up facility allows periodic increments of the SIP amount, in the form of a fixed amount or a percentage increase every year.
Disclaimer: Data Sources include ACE MF, AMFI and Fund House's website.
