SIPs are Systematic Investment Plans where money is deducted from your bank account and invested automatically. With an SIP, you’re able to purchase fund units at different levels of the market. To start invest in mutual funds in SIP, open saving account in one of the bank, get cheque book for the account and internet banking for the account. To open account and get cheque book it would take around one week. After get your account activated, contact mutual fund aggregator platform to start mutual fund investment. You can withdraw the mutual funds as same as bank account. Buying, selling and redeeming a fund at the current market price per unit (NAV) is quite simple. All you need to do is put in a request with the fund company and the fund manager will take care of the rest. With its easy liquidity, mutual funds can serve as your emergency funds.
You can redeem mutual fund investment and convert to cash in case of emergency
- Open Saving account
- Get Cheque book
- Activate internet banking
- Contact mutual fund aggregator platform such as kuvera, upwardly, zerodha coin or clearfunds.
- Select the mutual funds based on past performance, fund manager and size of the fund.
Select the mutual funds based on your investment horizon. Let us discuss list of best funds in 2020 based on investment horizon.
Longer investment horizon increases the power of compounding.
Investment horizon more than 5 years:
For financial goals more than 5 years, you can select equity mutual funds. In this fluctuating economy condition, do not select equity mutual funds for short term investment. Select debt and bond mutual funds to reduce the risks. Here list of best equity mutual funds for 2020.
- Mirae Asset Large Cap Fund
Invesco India Growth Opportunities Fund
Kotak Standard Multicap Fund Direct
SBI Focused Equity Fund Growth
Emerging Equity Fund
Investment horizon 3 years to 5 years:
For investment horizon 3 to 5 years, select hybrid mutual funds which mixes equity and debt instruments. Here list of hybrid mutual funds for 2020.
DSP Equity & Bond Growth Direct Plan
ICICI Prudential Balanced Advantage Growth Direct Plan
HDFC Balanced Growth Direct Plan
ICICI Prudential Equity & Debt Growth Direct Plan
L&T Hybrid Equity Growth Direct Plan
Investment horizon less than 3 years:
In this market condition, do not select equity mutual funds for short term investment. Select debt and bond investment for short term investment. You can invest in gold as well for average return in short term. Here list of debt and bond mutual funds for 2020.
Axis Banking & PSU Debt Growth Direct Plan ()
SBI Banking & PSU Growth Direct Plan
ICICI Prudential Banking & PSU Debt Growth Direct Plan
DSP Banking & PSU Debt Growth Direct Plan
Sundaram Corporate Bond Growth Direct Plan
HDFC Corporate Bond Growth Direct Plan
You do basic analysis and select the best fund for your financial goals. Start with monthly 100 to 1000 monthly investment in mutual funds SIP.
You can start mutual funds with monthly 100 rupees
List of bank supported for mutual funds SIP:
Open saving account in one of the bank listed below to start your investment. Saving account with cheque book and internet banking is required to start the mutual fund investment in SIP.
ALLAHABAD BANK
ANDHRA BANK
AXIS BANK
BANK OF BARODA
BANK OF INDIA
BANK OF MAHARASHTRA
CANARA BANK
CATHOLIC SYRIAN BANK LIMITED
CENTRAL BANK OF INDIA
CITI BANK
CITY UNION BANK LIMITED
CORPORATION BANK
DCB BANK LIMITED
DENA BANK
DEUSTCHE BANK
DEVELOPMENT BANK OF SINGAPORE
DHANALAKSHMI BANK
FEDERAL BANK
HDFC BANK
HSBC BANK
ICICI BANK LIMITED
IDBI BANK
IDFC BANK LIMITED
INDIAN BANK
INDIAN OVERSEAS BANK
INDUSIND BANK
KARNATAKA BANK LIMITED
KARUR VYSYA BANK
KOTAK MAHINDRA BANK LIMITED
LAXMI VILAS BANK
NKGSB COOPERATIVE BANK LIMITED
ORIENTAL BANK OF COMMERCE
PUNJAB NATIONAL BANK
RBL Bank Limited
SARASWAT COOPERATIVE BANK LIMITED
SOUTH INDIAN BANK
STANDARD CHARTERED BANK
STATE BANK OF INDIA
SYNDICATE BANK
TAMILNAD MERCANTILE BANK LIMITED
THE COSMOS CO OPERATIVE BANK LIMITED
THE SHAMRAO VITHAL COOPERATIVE BANK
UCO BANK
UNION BANK OF INDIA
UNITED BANK OF INDIA
VIJAYA BANK
YES BANK
It is easy to start mutual funds investment. It is not complex. Talk with mutual fund aggregator customer support to get help. There are more than 1 lakhs customer representative to help you to start mutual fund investment. Start as early as possible, Start today. Happy Investing:)