I am a central government employee. I want to open a Systematic Investment Plan (SIP) for 15 years. How to open a SIP and how to chose the best plan?
- Aditya Verma
Since you have an investment horizon of 15 years, you can consider investing in equity mutual fund schemes. We recommend equity-oriented balanced schemes to first-time investors in stocks. These schemes invest in a mix of equity and debt, and they are less volatile than pure equity schemes. They are ideal for novices in the stock market to grow their money conservatively.
Here is our list of the best balanced schemes.
It is easy to start a systematic Investment Plan (SIP). All you have to do is to tick the SIP option while filling up the application form of a mutual fund scheme, and authorize your bank to debit a particular amount every month from your savings bank account.
This article was originally published on October 19, 2015.
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