Good news for those who want to invest in mutual fund schemes daily through a Systematic Investment Plan (SIP). LIC Mutual Fund has introduced a facility where investors can invest just Rs 100 per day through SIP.
This is especially beneficial for those with daily incomes, such as self-employed individuals like shopkeepers, artisans,
and mechanics, as they can now easily invest a portion of their earnings each day. This facility became available starting from October 16.
Flexible SIP Options for Investors
Apart from the Rs 100 daily SIP, LIC Mutual Fund offers other flexible options. Investors can choose to invest in all LIC MF schemes, except the LIC MF ELSS Tax Saver and LIC MF ULIP, through this facility.
The minimum requirement for a daily SIP is 60 installments. If investors prefer monthly investments, they can opt for a SIP of just Rs 200 per month with a minimum of 30 installments.
Quarterly and Micro SIPs to Help Low-Income Investors
For those who wish to invest quarterly, LIC Mutual Fund allows a minimum of Rs 1000 every quarter through SIP.
The Securities and Exchange Board of India (SEBI) had earlier announced the introduction of small SIPs to make mutual fund investments accessible to more people.
SEBI Chairperson Madhabi Puri Buch has often emphasized the importance of micro SIPs to help a larger population benefit from mutual fund returns.
Reaching Small Cities and Towns
RK Jha, Managing Director and CEO of LIC Mutual Fund, shared that this small-ticket SIP initiative will allow people from small towns and cities to invest in mutual funds.
This will help expand financial services across the country, bringing more people under the umbrella of mutual fund investments. LIC Mutual Fund remains one of the largest asset management companies in India.
