SIP stands for Systematic Investment Plan. SIP is a way of investing in mutual funds regularly and systematically. SIP helps you save money and grow wealth over time.
You invest a fixed amount at regular intervals, such as monthly or quarterly. This is the simplest and most popular type of SIP.
You Increase your SIP amount periodically, such as every year or every six months. This helps you invest more as your income grows.
You can change your SIP amount or frequency according to your convenience or market conditions. This gives you more flexibility and control over your investments.
You invest only when a specific event occurs in the market, such as a favorable price movement or a predetermined NAV level. This requires some market knowledge and timing skills.
You invest without specifying an end date for your SIP. This helps you stay invested for the long term and achieve your financial goals.
You invest in multiple mutual fund schemes with different SIP amounts and frequencies. This helps you diversify your portfolio and reduce risk.
You get a free life insurance cover along with your SIP investment. This provides you with financial security and protection.