If you remember the childhood story of the Tortoise and the Hare, then the Systematic Investment Plan (SIP) is equivalent of the tortoise in the race to create wealth. SIPs make sure that you continue moving slowly but surely to win the race in money matters!
Key Benefits of SIPs
Enforces investing discipline
No need to time the markets
Averages your cost over time
Invest at very low monthly installments
To start your SIP, please click here >>
Some of the points you might want to think through before starting an SIP:
1) Decide on the monthly investment amount that you can sustain over the investment period. For example, it can be Rs.1000, Rs. 2,000, Rs. 5,000 or any amount that you are comfortable with.
2) Select the funds in which you want to invest through SIP, but make sure that the portfolio is diversified. For example, you can invest Rs.1000 in 5 funds if you had chosen Rs. 5000 as the sustainable monthly investments in the previous point.
3) Understand the entry and exit loads applicable for SIPs. Some schemes have no entry / exit loads for SIPs over certain period. So, if you withdraw funds within the specified period, you might be charged the entry and exit loads. Or some funds require you to keep the funds with the mutual fund for a certain period and in case you withdraw within the period, the mutual fund house may charge you only exit loads.
To view list of Recommended Funds, please click here >>
How can you SIP on FSM?
- Go to Transaction Tab > Systematic Transaction > Apply SIP
- Select a Fund
- Enter information
- Select Bank for ECS
- Print ECS Mandate Form
- Attach self-attested cancelled cheque with the ECS Request
- The ECS application will be submitted to your bank (Note: ECS confirmation may take up to 25 working days)
- On approval, Your SIP will be activated
Learn more: Systematic Investment Plans and their Benefits
Don’t have an account with Fundsupermart.com?
Do not hesitate to Contact Us for any information or assistance required!