You've decided to start a SIP. Good call. Now what? This is the no-fluff checklist for going from "zero" to "first SIP credited" in under a week.
Step 1: Complete KYC (one-time, 10–15 min)
Required for any mutual fund investment in India.
- Visit any AMC website (Axis, HDFC, ICICI MF) or aggregator (Groww, Coin, Kuvera).
- Enter PAN. If KYC is already done (you may have done it for stocks), it shows "verified".
- If not done: complete via Aadhaar eKYC. Needs PAN, Aadhaar, address proof, photo, signature.
- Done — KYC works across all fund houses.
Step 2: Pick your platform
| Option | Pros | Cons |
|---|---|---|
| Direct via AMC | Lowest expense ratio (-0.5%/yr) | Separate login per AMC |
| Aggregator (Coin, Groww) | One dashboard for all funds | Mostly free but check direct-plan availability |
| Distributor (with us) | Personalised advice + paperwork done | Regular plan = slightly higher expense |
Step 3: Pick 2–3 funds
For a beginner with 15+ year horizon and moderate risk:
- Flexi-cap fund — core 60%. Examples: Parag Parikh Flexi Cap, HDFC Flexi Cap.
- ELSS — 25%, doubles as 80C tax saving. Examples: Quant ELSS, Mirae Asset ELSS.
- Mid-cap / Small-cap — 15% for growth tilt. Examples: HDFC Mid-Cap, Nippon Small Cap.
Pick "Direct - Growth" plan (not "Regular" and not "Dividend").
Step 4: Set up the SIP
- Pick monthly amount. Start with what's comfortable — even ₹2,000/fund. You can step up later.
- Pick a date 5–7 days after your salary. This ensures the account has funds.
- Set the SIP "until cancelled" (perpetual), not for a fixed period.
- Enable e-mandate (one-time NACH form online). After this, SIP runs automatically.
Step 5: First month — do nothing
Resist the urge to check daily. Your first NAV will not be your last. Markets move ±2% in a normal day. Set a reminder to review the portfolio every quarter, not every day.
Step 6: Step up after appraisal
When your salary increases, increase the SIP. Even a 10%/yr SIP step-up dramatically boosts the final corpus. Use the Step-Up SIP calculator to see the impact.
Common first-year mistakes
- Picking funds based on last year's top performer (always reverts).
- Choosing "Regular plan" instead of "Direct" (loses 0.5%/yr — that's ₹4–5 Lakh over 20 years on a ₹10K SIP).
- Stopping SIP during a market crash (when you should be buying more units cheap).
- Adding new funds every quarter (5+ funds = duplicate holdings + tracking hell).
- Withdrawing after 1 year for a vacation (defeats compounding).
Need someone to look at your specific case and recommend the exact funds? We do this in a 30-min free call. Or use the 2-min quiz for a starter plan.
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