DigiSIP facility has been introduced by CAMS online. The DigiSIP facility allows investors to start a SIP in seven days. It is a paperless process, of course. With the use of CAMS digiSIP, the lead time of 30 days is reduced to 7 days. Using this tool, you can invest in both direct planning and regular planning.How are the features of CAMS online DigiSIP? How to start DigiSIP? How does DigiSIP work in CAMS online? Will you worry about it? Let’s try to find answers to the questions?
As the name suggests, digiSIP is an entirely digital way of setting up SIPs for mutual funds. Existing and new investors can avail of this facility at www.camsonline.com. It uses a database prefilled form to set up SIP in just a few clicks. This service uses the net banking system or e-mandate. A one-time mandate configuration can be used for any SIP on this platform. The main advantages of this feature are the removal of paperwork, reduction in time required to set up SIP, and minimal data entry.
Key Features of CAMS online digiSIP
Here are the key features of CAMS online digiSIP –
- A completely digital process of setting up SIPs for mutual funds.
- Fast processing and minimal data input required for existing investors.
- The facility of e-mandate to reduce paperwork and time.
- Can setup multiple SIPs at once.
- No re – paperwork and no resubmission of paperwork.
- New investors can complete the e-KYC based on Aadhaar, and set the SIP as fundamental.
- All mutual funds can be purchased directly and regularly through this platform.
- This facility can also be used to invest in lump sum mutual funds.
- It can be used for existing as well as new investors.
How to start CAMS online digiSIP?
- Go to the Cams online site. Go from Navigation to Investor Services and click on digiSIP.
- Insert your PAN card and click on the submit button. The OTP will be generated and sent to the registered mobile number and email address.
- Enter the OTP and press the Verify button. You will be taken to the page where after successful verification, it is requested to choose an existing AMC or New AMC.
- Select the portfolio and the appropriate AMC option. You can also create a new portfolio. Click the button to submit.
- The next step is to register with SIP. Here you have to provide the form of contract, scheme name, duration, payment, installment number, and date.
- Click the submit button after you are done. To use this service, you also have to register for an e-mandate.
How can a new investor use CAMS online digiSIP facilities?
The procedure described above is for existing customers of mutual funds. If you are a new customer and still not complying with KYC, you can use the DigiSIP facility. Just valid Aadhaar and PAN are needed. You can complete the e-KYC process online without sending physical documents or doing in-person verification.