As a first-time investor, your maiden step in opening an SIP mutual fund account is to understand your financial goals and evaluate your risk tolerance. This will steer your investment choices. Next, complete the KYC (Know Your Customer) process, which involves submitting your identity and address proofs. You can accomplish this online. Once done, select the right mutual fund that aligns with your objectives and risk profile. Now, with these steps, you are primed to embark on your investment journey. When it comes to investing, patience is not just a virtue, but a key to potential success.
