IDBI-Principal AMC Reduces the Minimum Investment Under the SIP

IDBI-PRINCIPAL AMC reduces the minimum investment amount under the Systematic Investment Plan (SIP) in all its funds except for the Cash Management Fund. A new investor can now use the SIP facility after opening an account with the initial minimum amount of Rs.1000/- instead of the normal Rs. 5000/- (minimum application amount). Earlier, the SIP facility was available after opening a new account with the initial minimum investment of Rs. 5000/- in respective schemes. Investors can opt for an SIP by depositing a minimum of 4 post-dated cheques of periodic investments.