Have you been wondering how to start a systematic investment plan (SIP) in a mutual fund? To begin with, an SIP is a method of investing. Here, you invest a particular amount at regular frequency—say every month. For instance, say you plan to invest Rs1,000 a month for say 24 months. You need to first evaluate and see how much you can invest—evaluate your income and total expense and see how much you can put aside for an SIP. Know that you can start an SIP with an amount as small as Rs500.
Find the fund
Next, you need to find the right mutual fund to invest in. You can do your research on various mutual fund schemes on various websites. However, if you are unable to do it, seek professional help. You can talk to a financial planner or an advisor. They will help you navigate through different kinds of mutual funds that exist in the market. You can also take help from distributors. There are multiple online portals you can use to analyse funds and pick the right one for you.
Initiate the process
Once you have picked the fund, you can start your SIP. First-time mutual fund investors will have to fill a know-you-customer (KYC) form, for which you will have to provide your identity proofs, such as Aadhaar. Make sure you fill the SIP mandate properly, especially the date of investment. Remember that your SIP amount will be debited from your savings account. Don't forget to leave enough balance in your bank account. You can do it offline through a distributor or on online platforms, whichever is convenient. Once you get comfortable with SIP, try to increase the amount.
SIPs are Best Investments as Stock Market s are move up and down. Volatile is your best friend in making Money and creating enormous Wealth, If you have patience and long term Investing orientation. Invest in Best SIP Mutual Funds and get good returns over a period of time. Know which are the Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds
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