Best SIP Plans - Top SIP Plans To Invest In India 2024
Introducing the ultimate guide to the best SIP plans in India for 2024.
The best part?
We've meticulously analyzed the financial market to bring you top SIP plans that have been providing impressive returns, and are adaptable to market fluctuations, also suit both beginners and seasoned investors.
If you're aiming to secure your future finances, achieve your long-term wealth-building goals, or simply make the smartest investment decisions this year, then this guide holds the answers.
Ready to secure your financial future? Dive in and discover the best SIP investments India offers in 2023.
Best SIP Plans Right Now
You can have SIP for equity as well as debt funds. While debt funds ensure fixed and regular income, equity funds give you a higher rate of returns.
If you have a conservative approach towards your investments, you can choose SIP Plans for debt funds. But if you want to be an aggressive investor, equity funds will suit your needs better.
1. SIP Plans In Equity Funds
As you know, equity funds are generally considered highly volatile. Therefore, you will have to make the investments very carefully here. We have listed some of the best SIP plans to invest in equity funds in 2023:
(i) Quant Small Cap Fund Direct Plan-Growth
Are you looking for a medium to short-term investment? Quant Small Cap Fund Direct Plan-Growth will be an ideal choice. The 3-year growth rate of Quant Small Cap Fund stands at 67.91%, which is quite massive. At the same point in time, its 5-year growth is standing at 22.49%.
Returns
If we discuss the returns of this fund in detail, you will know exactly why it is one of the best SIP plans to invest in India in 2023. Its returns on different time intervals stand as follows:
- 1 year - 38.35%
- 3 years - 46.89%
- 5 years - 29.11%
- Since Launch - 17.43%
Disclaimer: The information provided here is for educational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to consult with a qualified financial advisor.
(ii) ICICI Prudential Technology Direct Plan-Growth
ICICI Prudential Technology Direct Plan-Growth is offering a 28.12% average growth in the last 3 years. This tells you how the SIP is providing consistent returns in the long term as well. The 5-year return stands at 21.33% too, which is again very significant.
You can even invest an amount as small as Rs 100. Considering the safe and consistent returns over a long period, it is going to work wonders for you. With an expense ratio of 0.89% for the direct plan, the investment will be economical as well as effective.
Returns
If we study the returns in detail, the plan is proving to be immensely beneficial to its investors. The returns are as follows:
- 1 year - 11.16%
- 3 years - 28.12%
- 5 years - 21.33%
- Since Launch - 18.34%
Minimum Investment
As we have already said, the minimum SIP investment is as low as Rs 100. Meanwhile, the minimum investment required is Rs 5,000 and the minimum additional investment is Rs 1,000.
Disclaimer: The information provided here is for educational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to consult with a qualified financial advisor.
(iii) Tata Digital India Fund Direct-Growth
This is a SIP plan that's offered by Tata Mutual Fund as a part of its equity mutual fund scheme. The expense ratio of the fund is 0.33% for the Direct plan as of July 31, 2023. With a lower expense ratio, your returns will be more efficient as less amount will be paid for the management of the fund, marketing, advertising and any other costs associated with running the fund.
With an AUM i.e. Asset Under Management of INR 6,765.81 crores, you can consider it one of the top SIP plans to invest in 2023.
Returns
- 1 year - 12.51%
- 3 years - 28.59%
- 5 years - 20.15%
- Since Launch - 19.78%
Minimum Investment
The minimum investment for the SIP plan stands as low as Rs 150. The minimum investment required is Rs 5000 and the minimum additional investment is Rs 1,000.
Disclaimer: The information provided here is for educational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to consult with a qualified financial advisor.
(iv) Aditya Birla Sun Life Digital India Fund Direct-Growth
If we talk about a SIP plan that has existed for quite some time now, Aditya Birla Sun Life Digital India Fund is going to be one of the top names on the list. The fund was launched on the 1st of January back in 2013.
The current AUM of this fund stands at Rs 3,717.95 crores. The expense ratio of this fund is 0.83% for a direct plan as of July 31, 2023, which is pretty reasonable.
Returns
- 1 year - 17.94%
- 3 years - 28%
- 5 years - 21.82%
- Since Launch - 21.92%
Minimum Investment
The minimum SIP investment required here is as low as Rs 100. Apart from that, the minimum investment required is Rs 1,000 and the minimum additional investment is Rs 1,000.
Disclaimer: The information provided here is for educational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to consult with a qualified financial advisor.
2. SIP Plans In Debt Funds
Debt funds are less risky than equity funds, thanks to the fixed returns that are set on them. So when we talk about top SIP plans to invest in 2023, SIP plans in debt funds make it into the list as well. Let's look at some of those funds:
(i) DSP Government Securities Direct Plan-Growth
This one is offered by the DSP mutual fund and is a Gilt mutual fund scheme. The DSP Government Securities Direct Plan-Growth fund was started back in 2013. So it has been 10 years since it has been a safe investment for several investors.
It is a medium-sized fund that is offering 0.54% as an expense ratio for the Direct plan as of July 31, 2023. If we talk about the returns provided by this fund in the last 3 years, they stand at 5.69%. These are solid numbers when we specifically refer to a debt fund.
Returns
- 1 year - 7.75%
- 3 years - 5.69%
- 5 years - 8.93%
- Since Launch - 8.16%
Fund Size
If we talk about Assets Under Management, the value stands at Rs 592.28 crore as of July 31, 2023.
Disclaimer: The information provided here is for educational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to consult with a qualified financial advisor.
(ii) Bandhan Government Securities Investment Plan Direct-Growth
If we talk about Government of India securities, this fund has one of the top holdings. Since its launch, the fund has offered returns of 8.8% It currently holds Assets Under Management of Rs 1,462.46 crore as of July 31, 2023.
Since it has offered returns of 4.7% in the last 3 years, it can be considered a safe SIP plan to invest in 2023. With a minimum SIP investment of Rs. 100, you can start earning a steady income with the help of this fund.
Returns
- 1 year - 6.51%
- 3 years - 4.71%
- 5 years - 8.69%
- Since Launch - 8.8%
Expense Ratio
The expense ratio of Bandhan Government Securities Direct Plan-Growth is at 0.62% for the Direct plan as of July 31, 2023.
(iii) Aditya Birla Sun Life Medium Term Direct Plan-Growth
This one is a medium-duration scheme of mutual funds. You can earn up to 0.71% extra returns with a direct plan here. The Aditya Birla Sun Life Medium Term Direct Plan-Growth fund directly invests in a portfolio of debt securities with medium-term maturity. The objective here is to generate regular income and capital appreciation.
It has Rs 1,890.6 crore of Assets Under Management and numbers keep getting higher thanks to its consistent growth with time.
Returns
- 1 year - 7.78%
- 3 years - 14.32%
- 5 years - 8.75%
- Since Launch - 9.5%
Minimum SIP Requirement
You will have to pay a minimum sum of Rs 1,000 as an SIP investment. Considering the returns, you can bet on having handsome profits on your investments here.
Disclaimer: The information provided here is for educational purposes only and should not be considered as financial advice. Before making any investment decisions, it is recommended to consult with a qualified financial advisor.
Key Takeaways
SIP has become a popular investment method in which people invest a fixed amount of money. This money is put into mutual funds and other investment vehicles.
SIP can provide you with several benefits such as:
- Cultivating a disciplined approach to investing. It ends up developing a consistent habit of investing and saving
- SIPs are flexible as well as affordable. You can start investing a small amount and increase it in the times to come once you get the needed returns
- Since SIPs allow investors to automate their investment process, they are very convenient.
We have listed some of the top SIP plans in equity and debt funds that you can invest in 2023. These will give you great returns this year and you can hope for them to deliver in the years to come as well.
So before you make the SIP investments, you should find the answer to the following questions:
- How much money to invest in SIP funds initially?
- Which SIP funds can be trusted in the long term?
- How wealth can be generated through SIP?
We will discuss this topic in the times to come as well. So sign up to the INDmoney app for updates and more information.
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