SIP is also known as the Systematic Investment Plans is an investment strategy using which one can invest a specific amount of money for the given time and ascertain good benefits. Let us know about various Types Of SIP.
What Are The Various Types Of SIP ?
• Top Up SIP – With the help of this SIP, the individual has the liberty to increase the investment on a period level. It is also one of the most preferred Types of Investment Plans to choose and also offers various mutual benefits as well.
• Flexible – In this SIP plan the individual can either increase or decrease the investment amount. Not only this but here skipping of the amount of investment is also accepted. So, it means the individual can make both small and big amount of investment on the basis of their income.
• Perpetual – This SIP Plans for one year, three years and even for five years as well. Here it is mostly not necessary to mention the end date with regard to the chosen SIP. So, here one can take back the funds whenever required without any discrepancy. It is one of the regularly used Types Of SIP.
• Trigger – If you have no or minimal knowledge about SIP, then this is the best SIP plan to choose for. Here everything along with the date, NAV can be adjusted. But there are chances of speculation in this particular type of SIP and is hardly recommended.
There were the famous Types Of SIP that one can choose from depending upon the financial access and monetary income. Before going for a decision make sure to carry on detailed research.