How to start your first SIP in 10 minutes
Step-by-step guide to picking a fund, completing KYC, and starting a SIP — even as a complete beginner.
Key takeaways
Starting your first SIP feels overwhelming — KYC, fund selection, platforms, mandates. In reality it takes less than 10 minutes once you know the steps. Here's the complete guide.
Step 1 — Complete your KYC (5 minutes)
KYC (Know Your Customer) is a one-time process required to invest in mutual funds. You need: PAN card, Aadhaar card, a selfie, and your bank account details. Go to any of these platforms: Groww, Kuvera, Coin by Zerodha, or Paytm Money. Click 'Start KYC', enter your PAN, link your Aadhaar via OTP, upload a selfie, and add your bank account. If your PAN and Aadhaar are linked, this takes under 5 minutes and is completely digital.
Step 2 — Choose your platform
For direct plans (lower expense ratio), use Kuvera, Coin by Zerodha, or Groww (select direct plan explicitly on Groww). All three are free. Kuvera is particularly good because it has zero transaction fees and excellent portfolio tracking. Avoid going through a bank's mutual fund section — they typically push regular plans with higher commissions.
Step 3 — Pick your first fund
For your first SIP, keep it simple. A Nifty 50 index fund in direct plan is the ideal starting point. Look for: UTI Nifty 50 Index Fund Direct Growth or HDFC Index Fund Nifty 50 Plan Direct Growth. Both have expense ratios under 0.2% and track the Nifty 50 faithfully. Don't overthink this step — getting started matters more than picking the perfect fund.
Step 4 — Set up the SIP
On your chosen platform: search for your fund, select 'Direct Growth' variant, click 'Start SIP', enter amount (minimum ₹500), select date (1st or 5th of month works well), and choose duration (select 'Until cancelled' for ongoing). You'll be asked to set up an auto-debit mandate via net banking or UPI. This authorises the platform to debit your bank account on the SIP date each month.
Step 5 — Leave it alone
The most important step after starting a SIP is doing nothing. Don't check it every day. Don't panic when markets fall. Don't stop the SIP because of bad news. Set a reminder to review your portfolio once every 6 months — check if you're on track for your goal, and increase your SIP by 10% when your salary increases. That's it. Consistency beats intelligence every single time in investing.