The first step to start investing in mutual funds is to become a KYC (know your customer) compliant. Mutual funds investments are becoming very popular with individual investors because of the benefits they provide. Some of the advantages of investing in mutual funds are:
1. Start with a minimum amount (Rs. 500)
2. Diversify across multiple stocks
3. Start automated monthly investment (Systematic Investment Plans)
4. Invest without opening a DMAT account
Mutual funds are classified into 3 types – money market funds, bond funds, stock funds. You can read online about how mutual funds are safe for investment. I would suggest if you are new to mutual funds you should consult mutual fund advisory services who have experts to guide you for investing in mutual funds.