SIPs are a great way to invest regularly, choose a plan, set a comfortable amount, and automate deposits to build wealth over time, here are some things to know.
1
Figure out your financial goals & how much risk you're comfortable with, this will guide your SIP plan selection.
2
Look for funds that align with your goals and risk tolerance, consider factors like expense ratio and past performance.
3
Decide how much to invest regularly and how often. Choose a date that works for your budget.
4
You can invest in SIPs directly with a fund house, through a broker, or via a robo-advisor.
5
KYC is a one-time process for investing, you'll need documents like a PAN card and address proof.
6
Your SIP contributions will be automatic, try not to withdraw funds unless necessary.
7
You might need to rebalance your portfolio over time to maintain your desired asset allocation.