subject: Best SIP Plans in India - SBI SIP Plans 2010 [print this page] SBI Mutual funds have introduced many mutual schemes. Each scheme has different limitations. SBI SIP plans are well known. SIP is systematic investment plan. SBI has allocated different SIP plans. The different plans are Magnum Taxgain, Magnum Equity and Chota sip plan. In this competitive world, everybody wants to become rich soon. For earning quick money, mutual fund investing is the best option.
Mutual funds can give huge returns. At the same time, investing in funds is risky. Market status will not be always positive. Diversification and proper selection of schemes will help to reduce the risk. Systematic investment plans was brought to help middle class people and rural people. Many people cannot pay the huge investment money as a single payment. These plans enable the people to pay the investment as monthly installments. These plans help the investors to plan for education and property investment.
SBI schemes allow the customer to pay low monthly investments in range of 500 rupees. Chota SIP plan has very low monthly installment. Monthly investment needed is only 100 rupees for this plan. This plan was mainly opened for the rural people. Application forms are available at all fund offices. Online application forms are also available. To know about the different schemes present in State Bank of India, check out the bank website. The bank website contains information about NAV, dividends and return percentage. Magnum Tax gain was introduced for tax benefits. This scheme has tax exemption below 1 lakh rupees.
