21
Jul
Systematic Investment Plan (SIP) is a mutual fund investment plan where an investor can invest can fixed amount in a mutual fund scheme of his / her choice at a regular frequency (weekly, fortnightly, monthly etc). To start an SIP, you have to submit a bank ECS mandate along with the application form for the scheme. Different fund houses offer a variety of choices of debit date for SIPs. Through the ECS mandate, the SIP amount (as specified by you) will automatically get debited from your bank on a particular day of the month (or any other frequency) specified by…