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No matter what your financial situation, a little planning can go a long way in securing your
financial future. If you are in a quandary about not having a hefty amount to put away in a
mutual fund, then SIP might be the ideal investment for you. Mentioned in this post is a step-by-
step guide to invest in SIP.
The appeal of Systematic Investment Plans (SIP) has skyrocketed over the last few years. SIP
is a tool that enables the investor to make periodic investments of as low as 500 rupees in a
mutual fund scheme. Here are the simple steps to invest through a SIP.
Step#1: Decide Your Economic Goals and Capacity
Before you start a SIP, it is imperative to have an idea of the desired target amount at maturity.
If you have life goals to fulfil, plan accordingly to determine the tenure of SIP.
Depending on your monthly income, deduce the amount of money that can go towards your
SIP. Also, assess your risk appetite when investing in SIP.
Step#2: Choose the Right Fund House
Always do meticulous research before choosing your fund house. It is better to see the results
over the last five years or more to understand how a fund house deals with market highs and
lows.
Step#3: Know Your Customer (KYC)
KYC is used by fund houses to gather customer information. The KYC process includes
● Filling KYC Form: The KYC form requires investor details like name, address,
occupation and identity information. The form can be downloaded from the website of
fund houses.