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To fulfill your dreams you have to make some investments to get good returns. But you should do it with low risk so that your hard earned money is not wasted. State Bank of India Mutual Fund has launched “Systematic Investment Plan”, which is a smart way to invest your money. You can invest as little as Rs 500 every month in mutual funds.
SBI Small SIP:
Recently SBI has launched a micro systematic investment plan called “SBI Small SIP” where you can make a minimum payment of Rs 100 every month. It helps low income people in rural areas to invest their money in equity. SIP auto debit facility is also there in this plan. If you have chosen this option, your monthly installment will be automatically withdrawn from your savings bank account every month. You can collect SIP application forms from various SBI Mutual Fund offices available across India or designated branches of State Bank of India.
You need to fill the form and submit the copy of PAN card along with the application form. If you apply for SIP auto debit facility, you should also fill an authorization form for the banks. Once the application form is processed, you will get a statement indicating the number of units allotted to you and the price at which it has been allotted. You will get this statement every month when the monthly payment is sent from the bank and the fund is credited to the account. The price at which new units are allotted will change based on the latest NAV.
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