SIP At Rs 250 Per Month: Aditya Birla Sun Life Mutual Fund Launches ‘Choti SIP’—Details Here
Investors must remain invested for a period of at least 60 months, while early withdrawals are permitted.
Aditya Birla Sun Life Mutual Fund has launched “Choti SIP” to encourage more people to start investing in mutual funds. With this new initiative, the mutual fund company aims to promote systematic investing by lowering the entry barrier for investors.
The investors can start investing in mutual fund schemes through Systematic Investment Plans (SIPs) with an amount as low as Rs 250 per month.
Here are the key details about Aditya Birla Sun Life Mutual Fund Choti SIP initiative:
Aditya Birla Sun Life MF’s Choti SIP: Key Details
The Choti SIP is available exclusively under the Growth option of the various plans. It is available for all schemes except debt schemes, sectoral and thematic plans, small-cap and mid-cap schemes under the equity scheme category.
The investment can be made via NACH and UPI auto-pay only. Investors must remain invested for a period of at least 60 months, while early withdrawals are permitted.
It is important to note that investors who have already invested in mutual fund schemes, be it via SIP or lump sum investment, will be ineligible for Choti SIP.
According to A Balasubramanian, Managing Director and CEO, Aditya Birla Sun Life AMC Ltd., the scheme will lower the entry barrier for investing in mutual funds, and encourage more people to invest in mutual funds via SIPs.
The company’s move is expected to bring more investors onboard, especially first-time investors in mutual funds.
Most mutual funds offer SIP plans across schemes, allowing investors to invest their money in small amounts at a pre-determined cycle rather than making a lump sum investment. The SIP schemes allow investing a fixed amount monthly and accumulating wealth in the long run. The investors can benefit from the rupee cost averaging and the compounding interest through SIP investments.
About Aditya Birla Sun Life AMC Ltd.
Aditya Birla Sun Life AMC Ltd (ABSLAMC) is the AMC for Aditya Birla Sun Life Mutual Fund. It is registered as a trust under the Indian Trusts Act, 1882.
ABSLAMC was incorporated in 1994 and offers financial services such as mutual funds, portfolio management services, real estate investments, and alternative investment funds.
As of Sept. 30, 2024, it was present across more than 300 locations in India and had an AUM of over Rs 4 lakh crore.
