SBI Mutual Fund Systematic Investment Plan – SBI Chota SIP
To fulfill your dreams, you need to make some investments to get good returns. But you should do it with less risk so that you don’t lose your hard earned money. State Bank of India Mutual Fund has launched ‘Systematic Investment Plans’ which is a smart way to invest your money. You can invest a small amount of Rs 500 every month in mutual funds.
SBI Chota SIP:
Recently SBI has launched a micro systematic investment plan called ‘SBI Chota SIP’ where you can make a minimum payment of Rs 100 every month. This helps low income people in rural areas to invest their money in equity. There is also SIP auto debit for this plan. If you have chosen this option, your monthly installment will be automatically withdrawn from your bank savings account each month. You can get the sip application form from the various SBI Mutual fund offices available all over India or from the designated branches of state bank of India.
You have to fill the form and send a copy of PAN card along with the application form. If you are applying for sip auto debit you must also complete an authorization form for the banks. Once the application form has been processed, you will receive a statement indicating the number of units allocated to you and the price at which it has been allocated. You will receive this statement each month when the monthly payments are sent by the bank and credited to the fund account. The price at which the new units are allotted will change depending on the latest NAV.
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