3 Replies to “Can i invest in SBI magnum mutual funds through ATM card without going online?”

  1. Yes You can..

    You can now invest in mutual fund schemes of SBI Mutual Fund through your SBI (State Bank of India) ATM debit card using the MF’s Internet transaction facility.

    if you already have a bank account with SBI and an ATM-cum-debit card of your account and also completed KYC Process, you can buy SBI MF schemes directly through it. Once you select your scheme, you will be asked to validate your debit card, its permanent identification number and your bank account number. You need to do this each time you invest using your debit card. Once the transaction is processed, you get an intimation of your investment on the screen and an account statement in a couple of days.

    You will now be able to buy mutual funds schemes by swiping your Visa debit cards.

  2. As long you have set up the first transaction in person, then yes, you can continue to contribute through ATM.

    Makes sense right? If you just willy-nilly transfer your funds to some cloud where are they going to put it? You have to have an account, legit – tied to the ATM transactions – and then the rest is just routine. When you set up the mutual fund ask your bank to do the tie up then you are off to the races.

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