Best SIP Plans for 5 years…!!
What is SIP?
SIP stands for Systematic Investment Plan. It allows you to invest regularly a fixed sum in your mutual fund schemes. Afterwards a fixed sum of money is auto-deducted monthly and invested in mutual fund schemes of your choice.
How to start a SIP?
In order to start a SIP, an investor needs to follow these simple procedures:
- Sign in at Gulaq account.
- Enter all your credentials regarding the amount of investment and period of investment.
- Make your e-kyc process in less than 60 seconds.
- Further choose the mutual fund from the list of funds.
- Afterwards, click on the start SIP, choose a date and money to be added.
- Click on the Start SIP button and then click on Invest.
- Login through your internet banking and your amount will be deducted.
How SIP works?
A SIP is a flexible and easy investment plan. Your money is auto debited from your bank account and invested in a specific mutual fund scheme. A certain number of units based on the ongoing market rate for the day. So, each time you invest money, additional units of the scheme are purchased at the market rate and added to your account. However, units are bought at different rates and investor benefits from Rupee-Cost Averaging and the power of compounding. Rupee cost averaging allows you to buy more units at lesser NAV during the volatile period and less units when the price is high.
What are the best SIP plans for 5 years?
The best SIP Plans for 5 years in 2019 according to economic times:
- Axis Bluechip Fund
- Canara Robeco Bluechip Equity
- Mirae Asset India Equity Fund
- Kotak Standard Multicap Fund
- Invesco India MidCap
- L&T MidCap Fund
- Sundaram Large and Midcap Fund
What are the benefits of SIP Investment?
The benefits of SIP Investment:
- Disciplined Investment: Discipline is the best way to successful investment. SIP allows you to invest on a regular basis and commit yourself to save regularly.
- Flexibility in Investment: A SIP allows an investor to be disciplined, but at the same time, there is no compulsion to stay invested in SIP. One can quit as per their wish.
- Gains in Long Term: If an investor who keeps investing in SIP for a long time, then it got the advantage of the Rupee cost Averaging and the power of compounding. It delivers attractive returns over an investment horizon.
- Total Convenience: It’s provides the most convenient mode of investment without any hassle. It is one of the simplest and the ideal mode of investments for retail investor.
*Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing.