HomeLifestyleA small investment every month can make you a millionaire, start like...

A small investment every month can make you a millionaire, start like this

Highlights

SIP i.e. Systematic Investment Plan is a way of investing in mutual funds.
SIP is considered to be the best option to invest.
You can increase or decrease the amount invested in SIP as per your convenience.

New Delhi. The habit of saving is good but most of the salaried people are not able to save anything from their salary due to lack of proper financial planning. Today we are telling you about such an option, in which you can get good returns by investing a small amount of salary every month. This will also save you and you will also have safe capital to take work at the time of need.

Actually, we are talking about SIP i.e. Systematic Investment Plan. SIP is considered to be the best option to invest. In this, you get the option of investing in less money, so it does not have much effect on your pocket. Especially for those who want to invest for a long time, this is the best way. You get compounding benefit on long-term investment in SIP, which increases the returns manifold.

What is SIP?
SIP i.e. Systematic Investment Plan is a way of investing in mutual funds. In this you can invest in small and easy installments. For this, you can choose investment plans on weekly, monthly, quarterly or six-month basis. No huge amount is required to invest in mutual funds through SIP. In this, you can start investing with 100 or 500 rupees.

Also Read – Special FD Scheme: Special Earning Opportunities! This bank is giving 8.3% interest on fixed deposits

How to start investing?
The process of investing in SIP is very simple. In this, your bank account is linked with the investment account. According to the plan you choose for investment, money is automatically deducted from this account on a certain date. You have to complete the KYC process before investing in mutual funds. For this you need PAN card and Aadhar card.

Most trusted option for investors
Investing in mutual funds is less risky than investing directly in equity shares in the stock market. Therefore, despite all the ups and downs going on in the stock market, investors’ confidence in SIP remains intact. According to the data of Association of Mutual Funds in India, the number of SIP accounts in the country has increased to 5.71 crore as of August 2022.

The returns in SIP depend on the amount you are investing. You can increase or decrease the investment amount as per your convenience. At the same time, if you want to deposit more amount in a month, then you can do that too.

Tags: investment, Investment tips, Mutual funds, SIP

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