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Systematic Investment Plan (SIP)

ANY DATE SIP

Systematic Investment Plan (SIP) is a smart and hassle free way to invest money in mutual funds with certain pre-determined amount at a regular interval (monthly, quarterly etc.). It is designed to help investors save regularly and thus accumulate wealth in a disciplined manner over long-term. However, existing SIP allows investor only restricted date range to invest through SIP for example every 1st, 15th, 30th or etc. This makes investors to plan their expenses and investment aligned to the SIP date range.

"ANY DATE SIP" provides one of the better investment experiences by allowing the investor to choose any investment date of the month depending upon the investors’ expense and income flow. Click here to know more

Example

One good rule to make saving is to keep the investment date close to your income/salary date, so that you can save before you spend. If your salary date is every 15th of month, in any date SIP, you can set SIP date 16th and easily save your salary before you spend!

SIP date even can be set up to your lucky number like every 7th, 3rd or whenever

Investment Date Strategy

*Note: In case, the instalment date chosen in the current or subsequent month is a non-business day or is not available, the instalment will be applied on the next business day.

*Please read the offer documents to know in details about this facility

SIP Modification Facility

SIP Modification is a value-added facility which will provide the investor with the flexibility to modify the SIP date/ Frequency/ Amount/ End date without having to cancel the existing registered SIP. This feature will help to avoid the hassle of cancellation and re-registration of the SIP. The SIP modification facility is applicable only for open-ended scheme which have been registered through the physical mode, except Mirae Asset Emerging Blue Chip Fund.

How does it work?

If an investor wishes to modify an existing SIP scheme, he will have to submit a SIP Modification Form at least 15 days prior to the next SIP instalment date (excluding the request date and the next SIP instalment date) post which the existing SIP scheme will be ceased and the New SIP scheme will get registered under the folio.

Frequently Asked Questions

Is SIP a safe investment?

Answer: Mutual Fund SIP is not a safe investment. Mutual funds are subject to market risks. Your SIP investment may give negative returns even over 2 – 3 year investment tenures depending on market conditions. Different mutual fund schemes have different risk profiles. You should select a scheme according to your risk appetite and investment needs. SIPs are usually recommended for long investment tenures. You should consult with your financial advisor if you need help in making investment decisions.

Is SIP better than FD?

Answer: Bank Fixed Deposits give you guaranteed returns (based on the applicable interest rate of the FD) with principal protection subject to solvency to the bank itself. Mutual funds give no assurance of returns or even capital protection. You should be aware of the risks before investing through SIP investment. You should invest according to your risk appetite and investment goals.

Can I invest Rs 500 in SIP?

Answer: Yes, you can start your mutual fund SIP with just Rs 500 investment. Consult with your mutual fund distributor who can help you to know, which AMCs offer SIP plans starting with Rs 500. However, SIP investment or even lumpsum in ELSS mutual funds can be started with Rs 500.

Can I withdraw SIP at any time?

Answer: You can withdraw or redeem your SIP investment (except SIPs in ELSS funds) partially or fully anytime. However, your SIP withdrawals or redemptions may be subject to exit loads, if withdrawals or redemptions are made within the exit load period. You should refer to the Scheme Information Document (SID) to know the exit load structure of your scheme. As far as Equity Linked Savings Scheme (ELSS) is concerned, these mutual fund schemes have a lock-in period of 3 years. If you are investing in ELSS through SIP, each SIP instalment will be locked in for 3 years from the instalment date.

Is SIP tax free?

Answer: Redemptions in SIPs may not be tax free. Taxation of redemptions in mutual SIPs depends on the type of the scheme and when redemptions are made. In SIP investment, the principle of First in First Out (FIFO) applies for taxation; you should consult with your tax consultant or chartered accountant to understand how FIFO will be applied for taxation of redemption proceeds in SIPs.

Taxation of redemption proceeds in SIP mutual fund also depends if the scheme is an equity fund or non equity fund; consult with your financial advisor to know which funds are treated as equity or non equity funds for taxation purposes. Short term capital gains in equity funds are taxed at 15%, while long term capital gains up to Rs 1 lakh is tax free in a financial year and taxed at 10% thereafter. Short term capital gains in non equity funds are taxed as per your income tax rate, while long term capital gains are taxed at 20% after allowing for indexation benefits. If you are investing in IDCW (dividend) options through SIP investment, then IDCW (dividend) payments will be taxed as per your income tax rate, both for equity and non-equity funds.

ELIGIBLE SCHEMES FOR SIP

Type

Name of Scheme

Eligibility

Equity

Mirae Asset Banking and Financial Services Fund

Yes

MIRAE ASSET EMERGING BLUE CHIP FUND

Yes

Mirae Asset Large & Midcap Fund

Yes

Mirae Asset Focused Fund

Yes

Mirae Asset Great Consumer Fund

Yes

Mirae Asset Healthcare Fund

Yes

Mirae Asset Large Cap Fund

Yes

Mirae Asset Midcap Fund

Yes

Mirae Asset ELSS Tax Saver Fund

Yes

Mirae Asset Flexi Cap Fund

Yes

Mirae Asset Multicap Fund

Yes

MIRAE ASSET MULTI ASSET ALLOCATION FUND

Yes

Mirae Asset Small Cap Fund ( SC)

Yes

Liquid

MIRAE ASSET CASH MANAGEMENT FUND

Yes

Balanced

Mirae Asset Arbitrage Fund

Yes

Mirae Asset Equity Savings Fund

Yes

MIRAE ASSET HYBRID EQUITY FUND

Yes

Debt

Mirae Asset Banking and PSU Fund

Yes

Mirae Asset Corporate Bond Fund

Yes

Mirae Asset Dynamic Bond Fund

Yes

Mirae Asset Money Market Fund

Yes

Mirae Asset Overnight Fund

Yes

MIRAE ASSET SAVINGS FUND

Yes

Mirae Asset Short Duration Fund

Yes

Mirae Asset Ultra Short Duration Fund

Yes

MIRAE ASSET CRISIL IBX GILT INDEX – APRIL 2033 INDEX FUND

Yes

MIRAE ASSET NIFTY AAA PSU BOND PLUS SDL APR 2026 50:50 INDEX FUND

Yes

MIRAE ASSET NIFTY SDL JUNE 2028 INDEX FUND

Yes

ETF

MIRAE ASSET ESG SECTOR LEADERS ETF

No

MIRAE ASSET HANG SENG TECH ETF

No

MIRAE ASSET NYSE FANG+ ETF

No

Mirae Asset S&P 500 TOP 50 ETF

No

Mirae Asset Nifty 50 ETF (MAN50ETF)

No

Mirae Asset Nifty Financial Services ETF

No

MMirae Asset Nifty India Manufacturing ETF

No

Mirae Asset Nifty Midcap 150 ETF

No

Mirae Asset Nifty Next 50 ETF (MANXT50ETF)

No

MIRAE ASSET NIFTY BANK ETF

No

MIRAE ASSET NIFTY 100 ESG SECTOR LEADERS ETF

No

MIRAE ASSET NIFTY EV AND NEW AGE AUTOMOTIVE ETF

No

MIRAE ASSET GOLD ETF

No

MIRAE ASSET NIFTY 1D RATE LIQUID ETF

No

MIRAE ASSET NIFTY 8-13 YR G-SEC ETF

No

MIRAE ASSET SILVER ETF

No

MIRAE ASSET NIFTY IT ETF

No

MIRAE ASSET S&P BSE SENSEX ETF

Yes

MIRAE ASSET NIFTY 100 LOW VOLATILITY 30 ETF

No

MIRAE ASSET NIFTY 200 ALPHA 30 ETF

No

MIRAE ASSET NIFTY MIDSMALLCAP400 MOMENTUM QUALITY 100 ETF

No

MIRAE ASSET NIFTY SMALLCAP 250 MOMENTUM QUALITY 100-ETF

No

Mirae Asset BSE Select IPO ETF   (BS)

No

Mirae Asset BSE 200 Equal Weight ET (BE)

No

Mirae Asset Nifty 50 Equal Weight ETF   (NE )

No

MIRAE ASSET NIFTY INDIA INTERNET ETF(IE)

No

FOF

Mirae Asset NYSE FANG+ETF Fund of Fund

No

MIRAE ASSET NIFTY 200 ALPHA 30 ETF FUND OF FUND

Yes

Mirae Asset S&P 500 TOP 50 ETF Fund of Fund

No

Mirae Asset ESG Sector Leaders Fund Of Fund

Yes

Mirae Asset Diversified Equity Allocator Passive Fund Of Fund

Yes

Mirae Asset Nifty India Manufacturing ETF Fund of Fund

Yes

MIRAE ASSET GLOBAL X ARTIFICIAL INTELLIGENCE & TECHNOLOGY ETF FUND OF FUND

No

Mirae Asset Global Electric & Autonomous Vehicles Equity Passive Fund Of Fund

No

MIRAE ASSET NIFTY MIDSMALLCAP400 MOMENTUM QUALITY 100 ETF FUND OF FUND

Yes

MIRAE ASSET NIFTY SMALLCAP 250 MOMENTUM QUALITY 100 ETF FUND OF FUND

Yes

Mirae Asset Nifty India New Age Consumption ETF Fund of Fund (AC)

Yes

Mirae Asset BSE 200 Equal Weight ETF Fund of Fund  (BW)

Yes

Mirae Asset BSE Select IPO ETF Fund of Fund (BI)

Yes

MIRAE ASSET INCOME PLUS ARBITRAGE ACTIVE FOF (IP)

Yes

Index

Mirae Asset Nifty SDL Jun 2027 Index Fund

Yes

MIRAE ASSET CRISIL IBX GILT INDEX – APRIL 2033 INDEX FUND

Yes

MIRAE ASSET NIFTY AAA PSU BOND PLUS SDL APR 2026 50:50 INDEX FUND

Yes

MIRAE ASSET NIFTY SDL JUNE 2028 INDEX FUND

Yes

   

*Each installment will be locked in for 3 years

For the list of schemes which are eligible for this facility and other terms and conditions, please refer to the facility form.

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