Myth #1: SIPs offer guaranteed returns

Fact: There is no assurance of returns for SIP investments.

Myth #2: SIPs never incur a loss

Fact: An SIP can reduce the risk element and guard against sharp market falls. However, they still remain vulnerable to market declines.

Myth #3: Your SIP amount, date, etc., can't be changed once started

Fact: Whether it is changing the investment amount, the date, or switching to a different SIP altogether, there is enough flexibility to edit.

Myth #4: Weekly SIPs are better than monthly SIPs

Fact: Weekly SIPs may only complicate things and, therefore, a monthly SIP is a simpler way to invest.

Myth #5: What if you miss an installment?

Fact: While there are no penalties against a missed SIP, a few banks may charge you for dishonoring auto-debit payments.

Myth #6: An SIP is only for equity funds

Fact: This isn't true and you can take the SIP route even for non-equity funds.

Myth #7: SIPs only suit small investors

Fact: While one can start investing in SIPs from as small as Rs.500/-, there is no cap on the maximum investment amount.