Have you ever wanted to invest in mutual funds, but thought that you will not be able to do so due to many reasons such as high entry barriers, inconsistent savings habits or lack of financial knowledge.
So now Kotak Mahindra Asset Management Company Ltd (KMAMC) has solved your problem. It has introduced a new scheme under which you can now easily start investing with only ₹250.
'Choti SIP'—a small-ticket Systematic Investment Plan (SIP)
KMAMC launched a new scheme named "Choti SIP". It means it is a small-ticket Systematic Investment Plan (SIP). Its tagline is “Choti Rakam, Bada Kadam” which refers to Small amount, big step.
Minimum investment
Under this scheme, individuals can start by investing just ₹250 in a month.
Thus, it is suitable for people having lower incomes or even young professionals who are just at the starting stage of their career and do not have lump sum amounts of money but want to invest in SIP.
Eligibility
The benefits of this scheme can be availed only by first-time investors, who are new in the market, and who have not initially invested in any SIP or mutual funds before.
Key Features
1) It becomes accessible for larger groups of people due to its low investment. It further helps a broader audience to avail its benefits and save some money for easy investing.
2) As the amount is low, people who fear risk while investing large amounts can easily find themselves fit in this category.
3) It has different payment options available such as UPI auto-pay or National Automated Clearing House (NACH).
4) An individual must have a minimum of 60 installments on a monthly basis for it.
5) In it, an investment must be made under the Growth Option.
Thus, Choti SIP, or small investment option is a great choice for people who do not have large money to invest or even who do not have much knowledge about investing options.
Also Read - PPF Withdrawal Rules: When & How to Access Your Savings Hassle-Free!
0 Comments