Documents required to invest in JM Financial 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 schemes of JM Financial Mutual Fund?
There are three ways to invest in JM Financial Mutual Fund's schemes
1. Through AMC's official website
2. Through a distributor
3. Through the ET Money platform
If you want to invest through the JM Financial Mutual Fund's website, you will need to sign up and create an account. Then follow the ensuing steps.
But when you invest in multiple mutual funds from different AMCs, signing up with each fund house could be a hassle. It would also be challenging to track your investments and analyse them.
On the other hand, if you do the same through a distributor, you will pay a higher expense ratio because the distributor charges a commission on every investment. As a result, your returns will be lower. A much simpler, efficient, and effective way of investing in schemes from JM Financial Mutual Funds 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 AMCs. You can choose from various schemes of JM Financial Mutual Funds, 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 JM Financial Mutual Fund 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 JM Financial Mutual Fund's schemes safe for investing?
JM Financial Mutual Fund is one of the emerging AMCs in India. And like any other mutual fund company, it is regulated by the SEBI. That said, the safety of your investments in a mutual fund depends upon how you define it. Since Mutual Funds are market-linked investments, it is not possible for any AMC (Asset Management Company) to guarantee the safety of your capital. As an investor, you need to evaluate and choose a mutual fund scheme as per your specific needs.
Which JM Financial Mutual Fund's scheme is best for the short term?
Generally, the short term refers to an investment tenure of up to three years. For such an investment horizon, you should consider debt funds. When investing in debt funds, investors should match their investment horizon with the average portfolio maturity of the fund. For example, they can consider overnight funds if the investment is for a few days. For investment up to three months, liquid funds are suitable. Low-duration funds are mandated to hold instruments with an average maturity ranging between six and 12 months. And, short-duration funds hold securities that mature between one and three years.
Are JM Financial Mutual Fund's schemes tax-free?
Capital gains tax is levied on a JM Financial Mutual Fund's scheme only when you make a capital gain from your investment. Capital gains can either be long-term or short-term. The amount of tax that will be levied on you for investing in a JM Financial Mutual Fund scheme depends on two factors:
1. The fund type you have invested in
2. The period for which you have invested your money in a JM Financial MF scheme.
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 a JM Financial Mutual Fund's scheme?
If you wish to discontinue your ongoing SIP with Union MF, you must visit the mutual fund's 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 ET Money app or website, click on the profile icon and select 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 canceled.
How can I get the JM Financial Mutual Fund statement?
One option is to log on to JM Financial Mutual Fund's website and request a 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. Whenever you wish, you can then check your entire portfolio just by logging onto ET Money.
On the website, hover on the profile icon on the top right after signing up. Select option "Track external mutual funds" from the drop-down menu. Complete the 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, which will display a dashboard showing 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 a JM Financial mutual fund scheme?
If you are investing in a JM Financial mutual fund scheme through SIP (Systematic Investment Plan), you can increase the regular investment amount in two ways:
1. One of the ways to increase your amount of SIP is to do it at the beginning of the systematic investment plan. To do that, you need to choose the top-up SIP option. When you select this option, the amount your invest regularly through SIP increases either:
1.1 By an amount (say, Rs. 500, Rs. 2,000, or any other amount) that you have predefined
1.2 By a percentage (say, 10%, 25%, or other) that you have predefined
2. It may happen that you didn't choose any top-up SIP option at the time when you started your systematic investment plan. In that case, you can increase your amount of investment by starting a new systematic investment plan in the same fund.
Data sources include ACE MF, AMFI, and Fund House's website.
