The calendar year is about to come to an end! Many would be still interested to plan their investments for increased savings in tax in the month of March. For all the new investments, mutual fund SIP Plans are the best for investment. SIPs help to clearly distribute the money over the tenure of employment to earn substantial returns. Most investors use SIP in an equity mutual fund scheme, doing it all online. Luckily the process is no more strenuous and gives you the opportunity to plan your wealth for future. Just get comfortable in your office or home and start an online SIP.
The process for starting an SIP can be quite exhaustive if not done before. However, it is definitely a one-time activity. After intelligent research and through study, an SIP can be started sitting on the other side of the screen. An SIP is just a recurring small investment.
With integration of technology, the world is coming closer in many ways. The financial compromise and progress is very much embedded into the world scene. More and more financial transactions are strongly supported. This has resulted in more and more use of digital technology. Ofcourse, this will reduce the extensive involvement of humans and more incidence of online methodologies. Instant options are chosen more over the manual technologies.
SIPs created online are popular for the convenience and simplicity component to it. There are many choices for individuals to choose the most investment possible. However, it is critical to know which option will enhance the electronic way of transfer for increased access.
So whenever, you make investments in a mutual fund, consider a tiny SIP. An amount as meagre as Rs.500 can be enough to start an SIP.
Below highlighted is the process run through for starting an SIP:
1. Firstly, decide on the amount that you wish to invest in an SIP. Now, contemplate your investment goals and financial resources.
2. Do it either online or offline.
3. Quickly, get done with the KYC process, attaching documents like ID proof, Address proof and passport size photographs.
4. Take your call on the choice of funds- Equity, debt or balanced funds.
5. Choose your SIP frequency, repayment date and amount.
6. Submit.
SIPs are considered superior to one shot investment plans. SIP has been always recommended but still there’s no hard and fast rule. It is trusted to be more effective than lumpsum. There’s ofcourse a better chance that the price paid will return more in value. SIPs are a good way to digitize your investments,by investing an uniform amount in a fixed frequency. It is not a great idea to waste time to sell and invest for increased returns.
Also read: Best Tax Savers, PPF, SIP, NPS, Investment and Mutual Funds
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