LIC Mutual Fund Lowers SIP Amount To Rs 100 For Select Schemes
New daily SIP plan and reduced monthly, quarterly limits to take effect from 16 october
LIC Mutual Fund Asset Management Company (AMC) has introduced a reduction in the minimum daily Systematic Investment Plan (SIP) amount to Rs 100, with additional investments allowed in multiples of Rs 1 for select schemes. The new SIP terms will come into effect from 16 October 2024.
In addition to reducing the daily SIP amount, LIC Mutual Fund has introduced a daily SIP option for its LIC MF Liquid Fund scheme. The company has also lowered the minimum monthly SIP investment requirement to Rs 200 and the quarterly minimum to Rs 1,000 for select schemes.
The AMC has also revised the step-up facility, reducing the minimum step-up increment to Rs 100, with further additions allowed in multiples of Rs 1. These reductions will apply across all schemes offering SIP, except for LIC MF ELSS Tax Saver and LIC MF Unit-Linked Insurance Plan.
“The launch of small-ticket SIPs will enable healthy participation of retail investors from across India, further driving financial inclusion," said RK Jha, Managing Director and Chief Executive Officer of LIC Mutual Fund.
This move follows recent guidelines from the Securities and Exchange Board of India (SEBI) aimed at enhancing access to mutual fund investments, particularly for small-ticket investors in smaller cities and towns.
