Best SIP Plans – Select the Best Mutual Funds for SIP
Systematic Investment Plan, or SIP as it is commonly known, is a mode of investment offered by Mutual Funds wherein you can invest a certain amount in a mutual fund scheme periodically at fixed intervals. This method is quite popular amongst investors, both new and seasoned, as it helps you to invest in a disciplined manner without worrying about market volatility or the stress of timing the market.
Why SIPs are ideal for mutual fund investing?
Systematic Investment Plans (SIPs) are ideal for developing a strong investing habit, especially if you are investing for the first time and wish to stay invested to achieve your long term goals. You can start an SIP with as small a sum as Rs. 100 and then gradually top them up as your salary increases over time.
The best part about SIPs is that you don’t have to worry about market movements, thanks to rupee cost averaging. The concept of rupee cost averaging is quite simple; you get to buy more units of mutual fund scheme when the NAV (Net Asset Value) is low and fewer units when the NAV is high. Rupee cost averaging, thus, helps average out the cost of these units.
This way you get the maximum value for your investments in volatile markets, and over the long term. This is the power of SIP to build wealth over time.
Best SIP Funds 2020
SIP is a great way to start investing as you can reap the benefits of steady wealth accumulation along with rupee cost averaging. Enlisted here are some of the Best SIP Funds for the year 2020. It is important to note that even the best SIP funds will only render the desired outcome if you stay disciplined and committed to your investment for the duration you had intended to.
How to Invest in SIP via Paytm Money?
Investing via SIPs is a smart way to invest regularly without the worry of first accumulating a large sum for investing. The Paytm Money app and Paytm Money website offer only the top-rated funds for you to pick from. Here are a few steps that you need to follow to invest via SIPs:
Step 1: Download the Paytm Money app to complete your KYC & become investment-ready within minutes
Step 2: You can start investing both on our website and App. On the home screen of the App, go to the ‘Invest’ button at the bottom of the page.
Step 3: On the Discover Mutual Funds for Investments page, select from ‘Top Rated Funds’ followed by tapping on ‘View Fund.
Step 4: Select a fund of your choice and ‘Invest Now’ via SIP and enter the amount of investment. Tap on ‘Proceed to Payment’.
Step 5: Make payment using Auto Pay, Netbanking or Debit Card. Tap again on ‘Proceed to Payment’ to complete the transaction.