The process of starting an SIP is based on thorough research and intelligent information drilling. SIP Plans (Systematic Investment Plan) needs to meet the regular standards of an investment.
Technology advancing this fast can help to integrate the world. The spurt of progress and instant financial transactions are backing up the financial transactions. Digital payments are on an ever growing high. This will bring in decline for human touch and involvement in dealings. Investing parties will be more inclined towards instant options compared to the effort driven ones.
Online SIP plans are way too popular when investment for the ease and convenience they bestow upon. There are some nice options for the individuals to keep all work online and use the electronic ways of transfer for better feasibility.
So if you wish to make investments in mutual funds, begin with small SIPs. Any SIP can easily have managed with a small amount of Rs.500.
A Quick SIP Process can be learnt as described under :
1. Take a quick call on investment amount, financial goals, risk averseness and investment objective.
2. Reach a decision of going online or offline.
3. Finish the KYC process by attaching documents like Address, Identity Proofs and Photograph.
4. Make a choice between different funds- Equity, debt or balanced funds.
5. Pick your SIP frequency, payment date and amount.
6. Submit the manually or online, whichever suits more.
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: How is the Process of SIP Easy?