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What is SIP?

A SIP means Systematic Investment Plan is the most effective way of growing wealth. It allows an investor to invest small amounts periodically in a mutual fund scheme – typically monthly, although one can invest daily, weekly, quarterly. SIP is offered by mutual funds to investors. 

How does SIP work?

To start a SIP you need to fulfill the Know Your Customer (KYC) requirements. You can also call it KYC. It is a must to invest in mutual funds. You will have to submit your identity proof, address proof and a photograph. You should also confirm your physical existence through an In-Person Verification or (IPV).

How can I start my SIP?

SIP works like a recurring investment of a fixed amount. Systematically invests a small amount of money in mutual funds at regular intervals by instructing your bank to periodically auto-debit your account with the SIP amount. SIP enables you to regularly increase your investment amount by a fixed amount and get the benefit of compounding.

Are SIP returns taxable?

SIP return is taxable or not, depends on the type of mutual fund and scheme in which you invest and when you redeem your investment.Generally returns from the equity mutual funds are non-taxable when redeemed after one year of the investment.

Can I change my SIP investment amount?

Yes, you can change your SIP as per your convenience. To increase the SIP amount – Start a fresh SIP with the increased amount. To decrease the SIP amount – Cancel the existing SIP and then start a new SIP with the new amount.

How to Select Best Mutual Fund Scheme for SIP?

SIP is good, but before that you have to choose mutual fund that best suited you to start SIP.For that You need to check certain parameters such as such the expected returns, risk, average Assets Under Management and some more.

What are the benefits of investing in SIP?
  • Generate long term wealth from your regular monthly savings.

  • Affordable and Flexible investment option.

  • Hussle free.

  • Disciplined saving and convenient investing.

  • Pocket friendly.

  • SIP has power of compounding.

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