How to grow your wealth with regular investments
SIP is a method of making disciplined investments over a set period of time in investment vehicles like ULIP or mutual fund schemes. You can create a sizable corpus for future needs by making a small SIP investment over an extended period of time.
The SIP amount is automatically debited from your bank account because auto-debit is an option. Additionally, it promotes long-term savings habits.
SIPs are not the only way to invest in mutual funds or other comparable investment instruments. Another common strategy is to invest in lump sums.
Mutual funds are investment vehicles that pool money from investors, then invest the money in stocks, bonds, or other securities. SBI Mutual Fund is a type of mutual fund that invests in stocks.
A significant volume of money is put into the preferred investment instrument all at once while investing in a lump sum. For instance, you may put Rs. 1 lakh into a 5-year mutual fund program.
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