5L
5Cr
5K
5L
1Year
30Years
8%
15%
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In the race between the hare and the tortoise, it was the slow and steady tortoise who won. Though the hare got off to a blazing start, he fell asleep before reaching the finishing line. But the tortoise kept going till he reached the end. He was not deterred by the taunts of the hare.
When it comes to investing for your financial goals, your approach should be like that of the tortoise. Have patience and do not let minor setbacks derail you from your path of wealth creation.
An easy and convenient way to achieve this is by investing in mutual funds through Systematic Investment Plans (SIPs). Just select the mutual fund, decide the amount to be invested and start investing. Since the SIP is linked to your bank account, the money gets credited to your SIP account every month.
A SIP is a mode of investing in mutual funds of your choice steadily and systematically. It allows you to invest small amounts regularly. It is an ideal way to invest in equities. You can start with as little as Rs 500 and increase the amount as your income goes up or till you become comfortable with the idea of investing in market-linked investments.
Once you set up a SIP in a mutual fund of your choice, a fixed amount gets deducted monthly from your savings bank account on the date chosen by you. The money gets invested automatically in the mutual fund scheme selected by you. This ensures that you are spared tracking the market and its impact on your investment. Since you are investing regularly, essentially the amount is invested at varied price levels.. This in turn reduces the fluctuation in returns.
SIP offers flexibility to increase/decrease the amount. As your salary rises, increase the SIP amount to match it. If at any point in time you are facing a cash crunch, you can reduce the amount, or even stop the SIP temporarily. This offers a complete control over your investments. Each monthly instalment gets added to the earlier one and you earn returns on a higher base each month, generating higher returns.
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