SIP is an abbreviation for Systematic Investment Plan. This is one way to invest in mutual funds. It is one of the most common investments that invest a fixed amount of money at regular intervals without having to invest a large sum of money in one go.

SIP is suitable for anyone in any financial situation. You can invest as low as Rs 100 per month. Therefore, SIP is an ideal investment option for everyone.

Those who do not have a fixed income can also invest in SIP. An emergency fund can be set up for this. You can invest in a liquid fund or an ultra-short duration fund as an SIP in a month after paying the emergency amount.

SIP is the best investment option for those who want to save a good amount of money for their children's higher education. If you invest Rs 1000 per month, you can earn Rs 5 lakh after 15 years.