How to Invest in SIP?

General
1

I am a beginner. Can you tell me how to invest in SIP?

2

Oh, it’s actually very easy to invest in SIP. I am assuming you are a beginner, so let me tell you how to invest in SIP for beginners. This is what you will do:

  • Know what is your goal? Are you looking at a long term or a short term investment? Maybe you want to save up for a vacation or you would want to create an emergency fund. Sit with yourself and decide on your goal.
  • Once your goal is set in place, start your research. Check which mutual fund aligns with your goal and risk appetite. Not only this, decide which platform you’ll use to start this SIP.
  • Next step is to pick the amount and set the frequency along with the date of deduction of funds in case you are opting for auto pay.
  • Complete your KYC formalities and you are all set.
  • The SIP details will be shared with you over an email. You can track performance of your SIP on the chosen platform easily.

I hope this will help you know how to invest in SIP online.