Invest 5 main types of SIPs: regular SIP, flexible SIP, top-up SIP, trigger SIP, and perpetual SIP.
In investment plan is a way to invest in which regular monthly installments are necessary.
1. Regular SIP are a great way to invest for the long term, even if you don't have a lot of money to invest upfront.
2. Flexible SIP give you the flexibility to change your investment amount as per your cash flow needs or preferences investments than a regular plan.
3. Top-up SIPs allow you to add extra money to your existing SIP at regular intervals.
4. Trigger SIPs allow you to automate your investment decisions based on market conditions.
5. Perpetual SIPs are a type of SIP that has no end date individual keeps contributing at regular intervals.
5 primary SIP types and when to use them. To open a SIP online, you must first have a demat account, so make sure to have one.
Perpetual SIPs are a good option for investors who don't know when they'll need their money. They let you stay invested as long as you want and redeem when you're ready.