Daily SIP: Many believe that investing is not their cup of tea. However, with the right education and a dedicated strategy in mind, anyone can make their money earn for them. One of the most common ways that many investors or potential investors prefer to start their journey is through mutual funds.
A mutual fund is basically a pool of money managed by a professional Fund Manager. Mutual Funds offer investors the facility to either invest in lumpsum or through a Systematic Investment Plan (SIP). It is a facility offered by mutual funds to the investors to invest in a disciplined manner.
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Using SIPs, an investor invest a fixed amount which could be as low as Rs 500 at pre-defined intervals in the selected mutual fund scheme. An investor may start SIP on Daily, Weekly, Monthly, and Quarterly mode.
What is Daily SIP?
Like any other frequency of SIP, the Asset Management Company (AMC) also offers investors the option to put in small amounts on a daily basis through a Daily SIP. In Daily SIP investors will have the option to choose any day to start SIP.
A Daily SIP will be registered after 30 days from the date of submission of SIP application form.
Minimum Investment, Period, Other Details
The minimum investment amount can be different in different asset management companies and can be as low as Rs 300 per day. The minimum Daily SIP period is 1 month.
A Daily SIP can be registered online as well as offline.
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Daily SIP Process
The process is same as of other SIP registration. Investors are requqired to fill the SIP registration form along with NACH form and submit it at respective Mutual Fund office or to any Official Point of Acceptance or to the registrar CAMS/Karvy.
Investors will need to submit the Scheme Application form along with SIP registration form. Meanwhile, the first time investors will need to submit PAN card and Aadhaar Card along with CKYC form while registering Daily SIP.
