To fulfill your dreams, you have to make some investments to get good returns. But you should do it with less risk so that you do not lose your hard earned money. State Bank of India Mutual Fund has launched “Systematic Investment Plans”, which is a smart way of investing your money. You can invest a little amount of Rs 500 every month to the Mutual funds.
SBI Chota SIP:
Recently SBI has launched micro systematic investment plan called “SBI Chota SIP”, where you can make a minimum payment of Rs 100 every month. This helps the low income people in the rural areas to invest their money in the equity. There is also SIP auto debit facility for this plan. If you have opted for this option, then your monthly installment will be withdrawn automatically from your bank savings account each month.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 in the designated state bank of india branches.
You have to fill the form and submit a PAN Card copy along with the application form. If you apply for a sip auto debit facility, you should also fill a authorization form for the banks. Once the application form is processed, you will get a statement indicating the number of units allotted for you and also the price at which it is allotted. This statement you will get every month when the monthly payments are sent from the bank and credited to the fund account. The price at which the new units are allotted will change depending on the latest NAV.