A Systematic Investment Plan (SIP) is considered better for investing in mutual funds, as it shows how much you have to invest, when to invest and how often. With this, mutual fund experts believe that this is the best way to invest in the SIP market more often. At the moment, not everyone is aware of how SIP works, or how to start it. In this news, we are giving you all the information about investment through SIP. Along with this, sometimes you want to invest a lump sum, but through SIP you can invest a small amount in different buckets. Along with this it maintains your investment habits in discipline. You can invest in SIP on a weekly, monthly and three months basis. At the same time, it is according to your convenience. Also, as most investment advisors believe, investing in equity mutual funds through SIP helps investors average their purchases and increase returns.
Know how to start SIP
Step 1: To start a SIP, all you need is a few documents. Such as a PAN card, an address proof (which can be anything from your driving license to a utility bill), a passport size photo and a checkbook.
Step 2: It is mandatory to follow KYC requirements for investing in mutual funds. All you have to do is provide information like name, date of birth, mobile number and address.
Step 3: Once you have followed the KYC rules, you can visit the website of the fund house you have chosen to invest.
Step 4: Fill in a form with your original details like your name and create a user ID and password for online transactions.
Step 5: Enter your bank account details to start the process of setting up and redeem monthly debit. Log in with your user ID and select the scheme in which you want to invest. SIPs usually begin after an interval of 35–40 days.
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