As India is gearing up to celebrate its 77th Independence Day, we, as Indians, have a moral responsibility to take charge of our futures. We have the obligation or kartavya to take things into our own hands and embark on a journey towards financial independence and growth.
But how would someone do so? The secret sauce you might have yet to learn or consider would be to invest your money into this magical investment option called SIP.
How does SIP work?
SIPs or Systematic Investment Plans are a way of periodically investing a set sum of money into Mutual Funds. SIP is typically done for a small amount of money every month or quarterly rather than a lump sum amount.
The low-risk and low-cost nature of SIPs makes them particularly popular among new investors who wish to start earning money and consistently generate wealth and seasoned investors who want to diversify their portfolio and not put all their eggs in one basket.
Which are some of the best mutual funds?
There are several factors which contribute towards the best mutual funds for SIP. These factors are typically the cost, risk, year-on-year growth or the decline of the mutual fund, the quality of the fund management and assets under management.
This Independence Day, let us make it our mission to become financially independent by investing in SIP. Based on these factors, one can choose the best mutual funds for their needs.
The following are some of the best funds for SIP for all kinds of investors, which can act as a starting point for you to begin your investment and earn passively consistently.
1. Quant Small Cap Fund Direct Plan-Growth
Quant Small Cap fund is for investors with a high-risk tolerance in exchange for great returns. As this is a small-cap fund, it offers high growth potential but is associated with a high level of risk.
2. Axis Long-Term Equity Fund
Axis Long-term equity fund is an ELSS and is perfect for long-term investors who wish to avail of tax benefits allowing you to save money on investments and from the returns.
3. Mirae Asset Large Cap Fund:
Mirae Asset Large Cap Fund is a large-cap fund known for its security, stability and long-term growth potential. While this might not offer the most returns, it is the safest option for people who don’t wish to risk their money.
How to invest in SIP?
It is an excellent time to be an Indian investor as there are more and more choices as new investment partners emerge and enable more people to invest their money and watch it grow.
But whoever you are, the Bajaj Finserv app has what you need. It allows for a comprehensive ecosystem that has everything related to money. From insurance to UPI to loans and mutual funds, the Bajaj Finserv app has what you need.
You can follow the given steps to fulfil your kartavya and embark on your journey as a financially independent Indian this Independence Day.
- Download the Bajaj Finserv application from the App Store or Play Store.
- Sign up using your mobile number
- Go to the Mutual funds under the Investment Bazaar section
- Look for specific funds or explore the different offerings.
- Calculate the ROI and other factors using a mutual fund calculator.
- Proceed as per your requirement
How to use a SIP Interest Calculator?
There is a SIP interest calculator built right into the Bajaj Finserv app. You can either go to the individual funds, check their year-on-year tracker and use the calculator, or follow these steps to do so otherwise.
- On the home page, tap three bars on the top left for Android and the top right for iOS.
- Here, you’ll see ‘Calculators & Buying Guides.’
- Go to ‘mutual fund calculators.’
- Fill in the required details, i.e., amount, time period, etc., and you should get the result.
Now that you know the power of regular investing and the returns one can get from investing in SIP, you can invest in the best mutual funds for SIP and start on your journey to financial freedom and being able to reinvest that money to revitalise the economy leading to the growth and development of India into a developed country.
SIP is equal to kartavya is a unique initiative started by Bajaj Finserv to promote financial inclusion and financial independence to help boost the economic condition of Indians and make them aware of the wonders offered by investing in SIP.