Systematic Investment Plan (SIP) is an investment style or route with which you can invest a fixed amount at regular intervals in mutual funds. Most fund houses allow daily, weekly, monthly, or quarterly SIPs. You might also have the option to customise it as per your convenience. While SIP amounts can be big or small, depending on the policies of the fund house and the type of mutual fund, usually most SIPs allow you to start with small amounts, such as ₹100 or ₹500. AMCs, such as Navi, allow you to start investing, via SIPs, with just ₹10. An SIP could help bring down the average cost of each mutual fund unit thanks to rupee cost averaging. This could help increase the returns margin on your investment.
This article will introduce you to the best SIP plans for ₹1,000 per month.
Annualised Returns Delivered by 10 Best SIP Plans for ₹1,000 Per Month
| SIP Plans | Annualised Returns* |
| ICICI Prudential Equity and Debt Fund- Direct-Growth | 1-year return: 5.66%3 years returns: 33.33%5 years returns: 14.49% |
| Aditya Birla Sun Life Digital India Fund- Direct-Growth | 1-year return: -4.8%3 years returns: 28.5%5 years returns: 22.4% |
| ICICI Prudential Value Discovery Fund- Direct-Growth | 1-year return: -14.33%3 years returns: 42.67% 5 years returns: 21.41% |
| Mahindra Manulife Multicap Badhat Yojana- Direct-Growth | 1-year return: -1.60%3 years returns: 36.59% 5 years returns: 15.59% |
| Invesco India Gold Fund- Direct-Growth | 1-year return: 14.50%3 years returns: 10.20% 5 years returns:12.3% |
| IIFL Focussed Equity Fund- Direct-Growth | 1-year return: 4.6%3 years returns: 16.9% 5 years returns: 13.04% |
| Invesco India Midcap Fund- Direct-Growth | 1-year returns: 0.95%3 years returns: 32.95% 5 years returns: 14.13% |
| Parag Parikh Flexi Cap Fund- Direct-Growth | 1-year return: 1.02%3 years returns: 35.94% 5 years returns: 18.27% |
| Kotak Blue Chip Fund- Direct-Growth | 1-year return: 1.10%3 years returns: 30.84% 5 years returns: 12.64% |
| Union Flexi Cap Fund- Direct-Growth | 1-year return: -1.20%3 years returns: 31.28% 5 years returns: 12.70% |
Also Read
10 Best SIP Plans in India to Invest in April 2023
10 Best SIP Plans for 20 Years to Invest in India
Detailed Overview of Best SIP Plan for ₹1,000 Per Month
Investing ₹1,000 per month in an SIP could be a good start to your investment journey. Here’s a detailed overview of some of the best SIP plans to invest ₹1,000 per month.
1. ICICI Prudential Equity and Debt Fund
This hybrid mutual fund aims for capital growth by investing in a diverse portfolio of assets. This includes equity and equity-related assets and fixed-income securities. Sankaran Naren, Manish Banthia, Mittul Kalawadia, Sri Sharma and Nikhil Kabra are the present fund managers of this scheme. Here’s some interesting details:
- AUM: ₹21232.91 Crore
- NAV: ₹240.19
- Expense Ratio: 1.78%
- Minimum SIP Investment: ₹100
- Category of Fund: Aggressive hybrid fund
- Risk: Very high
- Annualised 1-year Return: 5.07%
- Annualised 3 years Returns: 32.63%
- Annualised 5 years Returns: 13.76%
2. Aditya Birla Sun Life Digital India Fund
This scheme invests in multiple sectors and aims for long-term capital appreciation with a diversified portfolio approach. It invests in equity and equity-related instruments of companies based on or dependent on technology. Dhaval Joshi and Kunal Sangoi are the present fund managers of this scheme.
- AUM: ₹3338.13 Crore
- NAV: ₹117.22
- Expense Ratio: 2.12%
- Minimum SIP Investment: ₹100
- Category of Fund: Sectoral fund
- Risk: Very high
- Annualised 1-year Return: -15.39%
- Annualised 3 years Return: 40.96%
- Annualised 5 years Returns: 20.08%
3. ICICI Prudential Value Discovery Fund
This scheme aims for capital appreciation and return generation by investing in a diversified portfolio. Based on your risk appetite and long-term financial objectives, this could be one of the best mutual funds for investing ₹1,000 per month in SIPs. Dharmesh Kakkad and Sankaran Naren are the current fund managers of this scheme.
- AUM: ₹27449.73 Crore
- NAV: ₹275.32
- Expense Ratio: 1.74%
- Minimum SIP Investment: ₹100
- Category of Fund: Value fund
- Risk: Very high
- Annualised 1-year Return: 7.14%
- Annualised 3 years Returns: 39.03%
- Annualised 5 years Returns: 14.28%
4. Mahindra Manulife Multicap Badhat Yojana
This fund is suitable for investors looking for medium to long-term capital gain. This scheme invests in equity and equity-related instruments of large cap, mid cap and small cap companies with an aim to deliver substantial capital appreciation. Fatima Pacha is the present fund manager of this particular scheme.
- AUM: ₹1515.13 Crore
- NAV: ₹20.19
- Expense Ratio: 2.31%
- Minimum SIP Investment: ₹500
- Category of Fund: Multi cap fund
- Risk: Very high
- Annualised 1-year Return: -3.38%
- Annualised 3 years Returns: 13.54%
- Annualised 5 years Returns: 34.17%
5. Invesco India Gold Fund
This mutual fund scheme is suitable for investors looking for substantial capital gains by investing in Gold ETFs. Investors looking for diversification in gold assets and those with bullish views on gold will find this fund suitable. Since its inception on December 05, 2011, this fund has delivered 4.77% annualised returns. Krishna Cheemalapati is the present fund manager of this scheme.
- AUM: ₹59.51 Crore
- NAV: ₹17.49
- Expense Ratio: 0.45%
- Minimum SIP Investment: ₹500
- Category of Fund: Fund of funds
- Risk: Very high
- Annualised 1-year Return: 14.15%
- 3 years Returns: 9.80%
- 5 years Returns: 12.63%
6. IIFL Focussed Equity Fund
Previously known as the IIFL Focussed Equity Fund, this scheme aims for capital appreciation through long term investments. This fund primarily focuses on 30 carefully selected stocks across different market capitalisations. Mayur Patel is the present fund manager of this scheme.
- AUM: ₹3416.74 Crore
- NAV: ₹30.09
- Expense Ratio: 1.92%
- Minimum SIP Investment: ₹1,000
- Category of Fund: Equity Focussed fund
- Risk: Very high
- Annualised 1-year Return: 4.6%
- Annualised 3-year Returns: 16.9%
- Annualised 5-year Returns: 17.9%
7. Invesco India Midcap Fund
This mid cap fund is one of the best SIP plans to invest ₹1,000 per month. It aims to generate long term capital appreciation by investing in assets of mid-cap companies. Its asset allocation involves equities and cash and cash-related instruments. Investors looking forward to long-term benefits from the stock market can invest here. Pranav Gokhale is the present fund manager of this scheme.
- AUM: ₹2618.62 Crore
- NAV: ₹85.46
- Expense Ratio: 2.01%
- Minimum SIP Investment: ₹500
- Category of Fund: Mid cap equity fund
- Risk: Very high
- Annualised 1-year Return: -0.45%
- Annualised 3 years Returns: 31.05%
- Annualised 5 years Returns: 12.44%
8. Parag Parikh Flexi Cap Fund
If you are looking for an SIP Plan for ₹1000 per month, this could be an option that you could consider. It focuses on capital appreciation by investing across different sectors and market capitalisations. It may be more suitable for investors with a high-risk appetite. They can invest here for long term capital gains, in line with the performance of its underlying asset classes and indices. Rukun Tarachandani, Raj Mehta, Raunak Onkar, and Rajiv Thakkar are the present fund managers of this scheme.
- AUM: ₹29953.06 Crore
- NAV: ₹49.81
- Expense Ratio: 1.6%
- Minimum SIP Investment: ₹1,000
- Category of Fund: Flexi Cap Equity Fund
- Risk: Very high
- Annualised 1-year Return: 0.04%
- Annualised 3 years Returns: 13.80%
- Annualised 5 years Returns: 34.60%
9. Kotak Blue Chip Fund
This mutual fund scheme invests in the assets of large-cap companies across various sectors. As a large-cap fund, it aims to generate capital appreciation by investing in a diversified portfolio of equities and equity-related assets. Currently, this fund has 58 holdings, including big names, such as ICICI Bank Ltd., Axis Bank Ltd., ITC Ltd., and Tata Consultancy Services Ltd. to name a few. Harish Krishnan is the present fund manager of this scheme.
- AUM: ₹5259.24 Crore
- NAV: ₹371.92
- Expense Ratio: 1.92%
- Minimum SIP Investment: ₹100
- Category of Fund: Large cap equity fund
- Risk: Very high
- Annualised 1-year Return: -0.19%
- Annualised 3 years Returns: 29.24%
- Annualised 5 years Returns: 11.32%
10. Union Flexi Cap Fund
By investing ₹1,000 per month via SIPs in this fund, you may be able to benefit from the fund’s long-term capital appreciation goals and diversification across market capitalisations. Since its inception, it has delivered 12.43% in CAGR, which is much higher than the 6.32% delivered by its benchmark, S&P BSE Sensex. Hardick Bora and Sanjay Bembalkar are the current fund managers of this scheme.
- AUM: ₹1337.44 Crore
- NAV: ₹32.36
- Expense Ratio: 2.28%
- Minimum SIP Investment: ₹1,000
- Category of Fund: Flexi cap equity fund
- Risk: Very high
- Annualised 1-year Return: -2.37%
- Annualised 3 years Returns: 30.00%
- Annualised 5 years Returns: 11.77%
Disclaimer: Data correct as on 4th April 2023
The best SIP plan to invest ₹1,000 per month list may not be complete without the Navi Flexi Cap Fund, which invests in large cap, mid cap and small cap stocks. It has delivered 13.5% annualised returns and 53.3% absolute returns in the past 3 years. Navi offers a low-cost, simple, and transparent platform to invest in a wide range of mutual funds, which could help you maximise the returns potential of your investment portfolio, if you stay invested for a sufficiently long time. Download the Navi App today to explore the investment options.
Final Words
Systematic Investment Plans could be suitable for investors who may have a lower risk appetite, limited liquidity, or who want to inculcate a habit of forced savings. SIPs could also help you lower the average cost of your investments. Now that we have shared the 10 best SIP plans for ₹1,000 per month in 2023 list with you, we hope you can find a plan that suits you best.
But, do check out the Navi Mutual Fund schemes, starting at just ₹10. It could prove to be an extremely efficient way to invest in your dream companies, without having to worry about the complexities and dynamics of the stock market. Happy investing!
Disclaimer: Mutual fund investments are subject to market risks, read all scheme-related documents carefully.
FAQs
Can I Invest ₹1,000 rupees in SIP?
Yes, investing ₹1000 per month in a SIP, is definitely possible. With time, you could even consider increasing your SIP contributions to increase your earnings potential in the long term, subject to market risks.
Which SIP is best for ₹1,000?
Looking for the best SIP Plan for ₹1,000 per month in 2023? Well, it would depend on your financial objectives, risk tolerance, tax position, and current circ*mstances. However, here are some options that you could consider:
-ICICI Prudential Equity and Debt Fund
-Aditya Birla Sun Life Digital India Fund
-ICICI Prudential Value Discovery Fund
-Mahindra Manulife Multicap Badhat Yojana
-Invesco India Gold Fund
What is the monthly SIP of ₹1,000 for 10 years?
The rate of return could fluctuate, based on market conditions and other fiscal factors. However, based on conservative estimates, you could expect a 12% p.a. return for a 10-year period. Based on this assumption, here’s how much you could earn:
Total Investment: ₹1,20,000
Estimated returns: ₹1,12,339*
Total earnings: ₹2,32,339*
*Based on Navi Mutual Fund Calculator estimates
Can I withdraw SIP any time?
Yes, in most cases, you can withdraw your mutual fund SIP any time. Except for ELSS, which has a mandatory lock-in period of 3 years, most mutual funds don’t have any lock-in period. So, you can redeem your fund units, either in part or full, at any time of your choosing.
Is SIP tax-free?
Depending on how soon you redeem units of your mutual fund, your earnings may be subject to short-term capital gains (STCG) tax or long-term capital gains (LTCG) tax. The rate of taxation and the duration varies depending on the type of fund.
Before you go…
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Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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As an enthusiast deeply immersed in the realm of personal finance and investment, I bring a wealth of knowledge and practical experience to guide individuals on their financial journey. My expertise extends to various investment vehicles, with a keen focus on mutual funds and systematic investment plans (SIPs). I've not only delved into theoretical aspects but have also actively managed portfolios and analyzed market trends.
Now, let's dissect the key concepts in the provided article on SIPs:
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Systematic Investment Plan (SIP):
- A disciplined investment approach where individuals invest a fixed amount at regular intervals in mutual funds.
- Allows flexibility in choosing intervals (daily, weekly, monthly, or quarterly).
- Can be customized based on investor preferences.
- Aims to harness the benefits of rupee cost averaging to potentially reduce the average cost per unit and enhance returns.
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Investment Amounts and Options:
- SIP amounts can vary, and many fund houses permit small initial investments (e.g., ₹100 or ₹500).
- Some AMCs, such as Navi, offer the option to start SIPs with as little as ₹10.
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Annualized Returns of SIP Plans:
- The article lists the annualized returns of the ten best SIP plans for ₹1,000 per month.
- Examples include ICICI Prudential Equity and Debt Fund, Aditya Birla Sun Life Digital India Fund, and others.
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Overview of Selected SIP Plans:
- Detailed information on specific SIP plans, including fund managers, assets under management (AUM), net asset value (NAV), expense ratio, minimum SIP investment, risk category, and annualized returns over one, three, and five years.
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Considerations for Choosing SIP Plans:
- Factors such as fund category (e.g., aggressive hybrid fund, sectoral fund, value fund), risk level, and historical performance influence the selection of SIP plans.
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Example SIP Plans:
- ICICI Prudential Equity and Debt Fund: A hybrid mutual fund focusing on capital growth through a diverse portfolio.
- Aditya Birla Sun Life Digital India Fund: Invests in technology-related companies for long-term capital appreciation.
- Mahindra Manulife Multicap Badhat Yojana: Suitable for medium to long-term capital gains across large, mid, and small-cap companies.
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Additional Information:
- Invesco India Gold Fund: Suitable for investors seeking capital gains through Gold ETFs.
- IIFL Focused Equity Fund: Focuses on capital appreciation through long-term investments in carefully selected stocks.
- Kotak Blue Chip Fund: Invests in large-cap companies for capital appreciation.
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Conclusion and Disclaimer:
- Encourages investors to explore Navi Mutual Fund schemes, emphasizing low-cost, simplicity, and transparency.
- Provides a disclaimer about the inherent risks of mutual fund investments.
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FAQs:
- Addresses common questions related to SIP, such as minimum investment, tax implications, and withdrawal options.
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Closing Thoughts:
- Concludes with a reminder about the potential benefits of SIPs for investors with varying risk appetites and financial goals.
In essence, the article serves as a comprehensive guide for individuals considering SIPs, offering insights into specific plans, performance metrics, and important considerations.
