A SIP In Equity Mutual Funds Is One Of The Best Ways To Grow Your Money
- A SIP is short for Systematic Investment Plan
- A SIP is not a financial product but a process of disciplined investing.
- You can have multiple SIPs in different mutual funds
- The minimum amount for each SIP is Rs 1000 and there is no maximum amount
- There are No Lock-In Periods and You can withdraw your money anytime (Except Tax Saving SIPs which have a 3 yr lockin)
- It’s recommended that you invest for a duration of atleast 5 years
- There is a one time KYC process before you can start
- Returns range from 7% to 15 – 20% based on Liquid / Equity Funds
Here Is What Needs To Be Done To Start A SIP :
- You first need to determine how much you want to save and invest every month (e.g. Rs 5000 per month)
- Select the Mutual Funds Suitable for your SIPs ( We suggest the best funds from the 1000+ funds in India )
- Select a day of the month when your money will be invested ( E.g. 2nd of every month if your salary comes in on the 1st)
- Sit Back and Watch Your money Grow.
- Review every year to ensure Asset Allocation / Monitor Fund Performance
At FINQA, we create a free online investment account for your, understand your needs, suggest the best funds for you and start your SIPs to achieve your financial goals.