If investment in SIP is being delayed then use this calculator to know the cost of delay.
A SIP Delay or a Systematic Investment Plan is the most effective way of growing wealth. It allows an investor to invest a fixed amount regularly in a mutual fund scheme – typically monthly, although one can invest daily, weekly, quarterly. Here is a calculator that helps you calculate the returns from a monthly SIP Delay.
To start a SIP you need to fulfill the Know Your Customer (KYC) requirements. You can also call it KYC. It is a must to invest in mutual funds. You will have to submit your identity proof, address proof and a photograph. You should also confirm your physical existence through an In-Person Verification or (IPV).
SIP works like a recurring investment of a fixed amount. Systematically invests a small amount of money in mutual funds at regular intervals by instructing your bank to periodically auto-debit your account with the SIP amount. SIP enables you to regularly increase your investment amount by a fixed amount and get the benefit of compounding.
SIP return is taxable or not, depends on the type of mutual fund and scheme in which you invest and when you redeem your investment.Generally returns from the equity mutual funds are non-taxable when redeemed after one year of the investment.
Yes, you can change your SIP as per your convenience. To increase the SIP amount – Start a fresh SIP with the increased amount. To decrease the SIP amount – Cancel the existing SIP and then start a new SIP with the new amount.
SIP is good, but before that you have to choose mutual fund that best suited you to start SIP.For that You need to check certain parameters such as such the expected returns, risk, average Assets Under Management and some more.
SIP Delay Calculator