You should opt for mutual family fund. In this case you will be saving lots of money on transaction fees. You can do all buying and selling of shares without paying any extra fees on your shares.
Types of mutual funds:-
Based on maturity period of the amount you invested, mutual funds can be categorized into different types.
1) Open ended- Shares can be bought or sold at any time without any maturity.
2) Closed ended- This scheme has a maturity period.
3) Interval- It provides benefits of both open and closed ended schemes to the investor.
Open ended schemes:-
1) Debt/Income scheme,
2) Liquid scheme,
3) Equity scheme,
- Index scheme,
- Sectoral scheme,
- Tax saving
4) Balanced scheme
Closed ended schemes:-
1) Capital protection,
2) Fixed maturity plans
You need not go to banks to open a mutual fund. You can do it online but you should first check whether you have a bank account as different mutual funds partner with different banks.