Start a mutual fund SIP? Make it easy with this guide.

‘Invest’ for the common man to fight inflation! Feeling this, many Indians have started their investment journey in recent times. Most of these investment are going to the stock market. However, it is important to invest in mutual funds through a systematic investment plan (SIP) to effectively use stock market instability. The investment made by SIP provides the benefit of ‘Rupees’ cost average (Rs. Average). This is an effective way to reduce a property, which means the cost of purchasing stock is average.

For example, a security Rs. 200 to Rs. When available at five different prices between 250, on high prices (Rs 250), you can reduce the cost of purchase by investing through SIPS in these two months!

This increases the opportunity to benefit from mutual funds. If you are also planning to invest in mutual funds, you can choose SIP.

Follow steps to start S IPS:

I. Open the account:

First, you need to open an account in an aggregator company such as mutual fund house or grove (Zeroda). To open an account, EKYC must be made by OTP sent to a mobile number connected to Aadhaar.

Ii. Choose a new transaction:

After opening a mutual fund SIP account, you can visit the ‘new transaction’ section. Here you can find two alternatives-lumps and sip-‘Sip’. You have to click on ‘SIP’.

Iii. Add a new plan:

Next, you need to add a new scheme section. Here you have two options to choose: ‘Lum Sam’ and ‘Sip’. You need to choose ‘SIP’.

Iv. Plan- Choose Money:

Now you have to choose the plan you want to invest. Along with this, you have to enter the amount you want to invest.

Select V. Sip Start Date:

Next, option comes to select the onset date of mutual fund sip. You can choose any date of the month!

Vi. SIP time limit:

Generally, the last date for SIP is December 31, 2099. However, you can easily change the mutual fund SIP period limit by selecting the number of installments or selecting the last date.

Vii. AMC option:

Usually, AMC (Asset Management Company) offers you three options:

Mutual fund SIP continues until the cancellation.

Choosing the number of installments.

Continues for a specific date. Choose one of these.

Start your mutual fund SIP trip.