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Systematic Investment Plan (SIP)

Systematic Investment Plan of a mutual fund is one of the best and smartest ways to make your income grow while achieving your financial targets in a simple and smooth manner. Popularly known as SIP, this type of investment has become popular in the past decade or so because it allows you to invest fixed amounts of money at regular intervals. That means you can invest on a monthly or quarterly basis continuously for a given period. If you have no experience of investing in the stock market or have reservations about stock investments, then SIP is a good way to get started.

Be it your long-term goals such as own home, children’s education, and retirement or short-term goals such as foreign vacation, mutual fund SIP in the best way to achieve them effectively. The returns from SIP mutual fund investment over a long-term horizon are much higher than the inflation rate. That coupled with the compounding effect make SIP a good investment option.

Invest in SIP online

If you think there’s hell of a lot of paperwork and other formalities for investing in SIP, then it’s time to rid yourself of all those inhibitions since you can definitely invest in SIP online. For online SIP investment, all you need is a 3-in-1 account with a registered stock broker and that’s it! You’re good to invest. Top stock broking houses offer you advisory services where they recommend the best SIP investment plans that you can invest in using their online trading portal.

How to start SIP investment in India?

You can invest in SIP in India by following the 3 simple steps mentioned below:

So, 1…2…3…You Have SIP!.

Step 1 – Keep all the required documents handy

All you need to start a mutual fund SIP is the following documents:

  • PAN card
  • Address proof (driving license, utility bill, bank statement)
  • A chequebook
  • A passport size photograph

You just need to scan these documents and keep soft copies ready. It will always be good and make your application quicker if you have your Aadhar Card soft copy handy as well. Once you have all these documents ready, you can process your SIP account online with ease.

Step 2 – Complete your KYC

You will need to complete your KYC requirement for investing in SIP in India. For investment purpose, mutual funds will require your details such as name, date of birth, address, and mobile number for completing your KYC.

Don’t worry! This is a simple formality where you can visit the website of your chosen fund house or even the broking house’s website and fill out all the required information, which may include submitting a soft copy of your PAN card and address proof document.

Once you have completed your KYC, simply visit the website of your chosen broking house and look for the start your SIP online or Register or New Investor links and click on them. Simply create your login ID and password by following the on-screen instructions and fill out all the required details. Next, simply click on the mutual fund SIP scheme of your choice and follow the on-screen details for investment.

Advantages of investing in a mutual fund SIP

  • Regular mechanism for investing
  • Helps in maintaining investment discipline since you have to invest regularly
  • Brings in the benefit of Rupee cost averaging
  • Since it is an investment for a long-term horizon, the power of compounding will be with you
  • You can invest in small amounts in SIP and make your money grow big

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