What is SIP?
Systematic investment plan or SIP is a way of investing in your favorite mutual fund scheme. It is a good investment avenue for investors who seek to accomplish long-term saving goals, along with wealth generation.
The SIP allows payments to be made on a monthly, quarterly or annual basis, as per the convenience of the investor. The investment amount is generally auto-debited from the bank account and invested in the mutual fund via SIPs.
SIPs also offer flexibility to the investor, as you can discontinue the plan anytime, if you don’t have the funds.
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Investing in SIP has several benefits. It helps save regularly and inculcates financial discipline. It is a comprehensive way to invest in your favorite mutual funds. You can start SIPs with just Rs 500 a month. The fourth benefit of investing in SIPs is the compounding benefit.
See Also: Difference Between SIP and Mutual Fund
There are for types of SIP investments available in the market:
See Also: How To Start SIP Investment?
The other benefits of SIPs are listed below:
See Also: Systematic Investment Planning
Yes, you can customize your SIP as per convenience. You can make payments either monthly, quarterly or annually. You can also customize the payment amounts by choosing a particular type of SIP.
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