Niranjan Kamat, Representative

Kolhapur: Investments in mutual funds have increased significantly over the last few years. In July 2024, investors invested over Rs 23,000 crore through SIPs in mutual funds. This highlights its importance. However, people with low income are often unable to invest in it despite their desire. There is good news for small investors.
LIC Mutual Fund has now introduced a small amount of Systematic Investment Plan (SIP) i.e. SIP. Due to this, investors can start SIP with less amount. LIC has provided special daily, monthly, micro and quarterly facilities for customers. Let's know the details of this SIP plan from investment advisor Ruchir Thatte...

Daily SIP
The minimum number of daily SIP instalments is 60. The company has provided 3 options to the customers which are daily, monthly and quarterly. For this, different durations, minimum SIP amounts and several instalments have also been announced. This SIP applies to all mutual fund schemes except LIC Mutual Fund, ELSS Tax Saver and LIC Mutual Fund ULIP. LIC's daily SIP is Rs.100.
Monthly SIP

The minimum amount for a monthly SIP is Rs 200. The number of instalments for this is 30. The return from this is high. Monthly SIP can be done from the 1st to the 28th of the month.

Micro SIP

You can become a partner of the company by investing a small amount in micro SIPs. This SIP is beneficial for those who earn less or those who have just started earning.
Quarterly SIP is run under the ELSS Tax Saver Scheme. As per the rules dated 16 October 2024, the minimum amount is Rs 1,000 or multiples of Rs 500. So the number of instalments for this is 6.