What is the difference between a fresh purchase and an additional purchase?
A Fresh Purchase refers to buying mutual fund units of a particular scheme for the first time. It can also be used to invest in a scheme through different routes (SIP/Lumpsum), or under different folios. For example, if you have already started an SIP in a particular fund and want to make a lumpsum investment in it, you can select Fresh Purchase while placing your order.
An Additional Purchase refers to buying mutual fund units of a scheme you have already invested in through a particular route/folio. For example, if you have an existing lumpsum investment in a fund and want to make an additional investment in it, you should select Additional Purchase while placing your order.