What is systematic investment plan?
You are used to these SIPs . They were called as recurring deposits. Similar to such recurring deposits, systematic investment plans calls for periodic investments at regular intervals.
In India, mutual funds decide the date on which the periodical investment will be made. It may be a fixed date on each month.
For example Sundram-BNP Paribas has the dates: 1,7,14,20 and 25th of every month. You can choose any date convenient to you.
Birla sun life has first, tenth and twentieth day of a month or of quarter as the date 0f your savings plans.
In all SIP, you provide a post dated cheques to the fund to be presented.
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