Here is how you can save on tax - Invest in Equity Linked Savings Scheme.

What is SIP?

Systematic Investment Plan (SIP) is a simple process of investing in mutual funds similar to a recurring deposit in a bank. It is designed to help investors like you to save regularly in small amounts and thus endeavouring to accumulate wealth in a disciplined manner over the long term, thereby aiming for a better future for you and your family.

Why SIP?

Every time you invest money, additional units of the scheme are purchased at market rate and added to your account. Hence, units are bought at different rates and investors benefit from Rupee-Cost Averaging and the Power of Compounding.

Example: If you started investing Rs. 10000 a month on your 40th birthday, in 20 years time you would have put aside Rs. 24 lakhs. If that investment grew by an average of 7% a year, it would be worth Rs. 52.4 lakhs when you reach 60.

However, if you started investing 10 years earlier, your Rs. 10000 each month would add up to Rs. 36 lakh over 30 years. Assuming the same average annual growth of 7%, you would have Rs. 1.22 Cr on your 60th birthday - more than double the amount you would have received if you had started ten years later!

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