The main objective of investing in a mutual fund is to get returns from capital markets which are higher than your savings rate There are many types of mutual funds available but most popular among them are Equity Funds and Asset Management Funds or hybrid funds as they combine both of them. Smaller investors can now invest in mutual funds directly.
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SIP is called Systematic Investment Plan Here you have to invest a certain amount such as monthly basis When you start SIP first of all you need to decide the amount, the SIP date, and the scheme you want to invest in
Other feature of SIP is known as Step up SIP How does this change investment strategy and which Mutual funds should step up? This article discusses these issues and recommends some steps that you should take to benefit from the new option
StepUpSIP–Whatisit?:-
Mutual fund companies now allow SIPs to step up. This means that you can now invest directly into mutual funds without converting your savings into government securities. You can also set up recurring deposits with Mutual fund companies to increase your investment in the long-run. With SIPs, you sign up for automatic recurring deposits to your mutual fund account In this way, you can increase your investment over time without having to make a lump sum investment
The SIP option is available to individuals and small business owners who wish to invest directly. The main advantage of using SIP is that it reduces the amount that you need to invest at a time. You can also choose between self-help and professionally managed mutual funds and make better investment decisions.
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Stepuprequirements:-
You must have a bank account where the fund company can directly debit your monthly payment This could be your existing salary account or a separate account You must also have a debit or credit card linked to your fund account You can only use debit cards for SIPs If you have a credit card linked to your fund account, the funds will get charge off and become your liability. You can set up SIPs only for selected fund companies. If you choose to use SIPs for a fund company that you do not have an account with, you will not be able to set it up. You have to open a separate account with that company.
Stepupfeebenefits:-
August 2020
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December 2019
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November 2018
July 2018
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You can now invest in mutual funds without incurring upfront costs
You can now get recurring investments on a monthly basis
You can increase your investment over time without having to make a lump sum investment.
