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I don't have any idea about the stock market. So, I am trying to invest in mutual funds. I have a little knowledge about mutual funds. I would like to invest Rs 2,000 per month. Could you please suggest me which plan is better to choose and why? And I have bank accounts in SBI and Axis.
-Pavan

Since you do not have much knowledge about investing in mutual funds, you should seek the help of a mutual fund advisor before investing. You should always choose a mutual fund scheme based on your financial goal, investment horizon, and risk profile. A mutual fund advisor would help you with this task. Since you have not shared your goal, horizon, or risk profile, we would not be able to help you.

Here are a few pointers that would give you a rough idea about investing in mutual funds. If you are investing for a short-term goal, you should stick to bank deposits and debt mutual funds. Ensure that you always choose a debt mutual fund in line with your horizon and risk profile. If you are investing for a long-term goal that is at least five to seven years away, you may consider investing in equity mutual fund schemes.

We typically ask new mutual fund investors to choose a relatively-less risky and volatile equity scheme like aggressive hybrid scheme. We have seen that investors gain confidence once they start to see how their investments grow over a period. After gaining confidence, they can start investing in large cap mutual funds or multi cap mutual funds.

Lastly, you do not need any particular bank account to invest in mutual funds. A bank account in any banks would do.