A Systematic investment plan it is also called as SIP. Systematic investment plan is a smart and hassle free mode for investing money in mutual funds. A Systematic Investment plan is a flexible and easy investment plan. Every time you invest money, additional units of the scheme are purchased at the market rate and added to your account. You can invest your money with a smart move and with a good manner with hassle free mode. Your money is auto-debited from your bank account and invested into a specific mutual fund scheme.
- Systematic Investment Plan helps you achieveyour bigger financial goals even with a small sum of amount invested every periodic interval.
- Investors often fail to maintain the habit of investing over the period of time.
- SIP can be implemented in two ways; Online and Offline SIP. Traditionally, you can invest in SIP by filling up a mandate, however, in the current digital wave, you can invest in SIP via invest online platforms.
- The biggest force that drives investments ahead is the power of compounding.
- Nobody can time the market, not even half of the times! However, SIP does not require you to time the market.
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The indicative rate of interest charged by various banks are given in table as below, however final rate may differ depending on the profile of individual and parameters of bank.