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Investment Fund: Now you too become rich under Freedom SIP, know the best ways to invest

investment

Many people think that they need a large amount to invest in the stock market, but it is not so. You too can become rich if you invest with patience and discipline. SIP is the convenient and preferred method for small and large investors today, as SIP offers better monthly savings, average cost, risk, balance and better returns.

What is ICICI Prudential Freedom SIP Plan?
ICICI Prudential Freedom SIP is one such facility that encourages an investor to invest through SIP with regular planning and also get good returns after the completion of the SIP tenure.

These are the three easy steps of Prudential Freedom SIP?

Step 1: In this, the SIP will be registered in an open-ended equity, hybrid or fund of funds scheme for long tenures of 8, 10, 12, 15, 20,25 and 30 years, on a monthly basis.

Step 2: Thereafter, on completion of the chosen SIP tenure, the amounts deposited through Freedom SIP are transferred to a pre-selected plan target, which is known as a Hybrid Fund. This ensures that your money is protected from market risks.

Step 3: After the SIP transfer, a plan money withdrawal scheme, known as SWP, gets activated. If a SIP is registered for 8 years, then its monthly SWP instalment is equal to one time of its monthly SIP instalment. If he withdraws money from SIPs registered for 10, 12, 15, 20, 25 and 30 years, then it is equal to 1.5, 2, 3, 5, 8 and 12 times of his monthly SIP. For example, if the SIP of the registered plan for 12 years is Rs. 10,000 per month, then his SWP will be Rs 20,000 (2X Rs 10,000).

Benefits of SIP investment

  1. Systematic investment plans are easy to maintain.
  2. In the long term, SIPs can give great returns.
  3. Also, there are ways to perform better and earn money at the same time by using a SIP plan.
  4. As your income increases, you can increase your monthly SIP or do a top-up SIP to plan for bigger goals or reach goals faster. It’s always up to you.

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