Mutual Fund SIPs accounts stood at 1.31 CRORE! And the total amount collected through SIP during February 2017 was ₹4,050 crore.
Indian Mutual Funds have currently about 1.31 crore (13.1 million) SIP accounts through which investors regularly invest in Indian Mutual Fund schemes.
Systematic Investment Plan or SIP as it is commonly known, is an investment plan (methodology) offered by Mutual Funds wherein one could invest a fixed amount in a mutual fund Scheme periodically at fixed intervals – say once a month instead of making a lump-sum investment. The SIP instalment amount could be as small as ₹500 per month. SIP is similar to a recurring deposit where you deposit a small /fixed amount every month.
SIP is a very convenient method of investing in mutual funds through standing instructions to debit your bank account every month, without the hassle of having to write out a cheque each time.
SIP has been gaining popularity among Indian MF investors, as it helps in Rupee Cost Averaging and also in investing in a disciplined manner without worrying about market volatility and timing the market.
AMFI data shows that the MF industry has been adding about 6.18 lacs SIP accounts each month on an average during the current financial year, with an average SIP size of about ₹3,100 per SIP account.
Have you started investing through SIP? If not, open a SIP account right away.