Best SIP Plan of 2010 - ICICI Bank Schemes

Sept. 28, 2010 - PRLog -- ICICI Prudential offers many schemes. These fund schemes have SIP. What is SIP? SIP's expansion is Systematic Investment Plan. It is a method of investing a fixed sum, on a regular basis in a fund scheme. This SIP method is similar to recurring deposit in certain aspects. In recurring deposit, we pay money monthly. In deposit method, we get interest and our amount also increases. In recurring deposit method, profit depends upon rate of interest. Both methods have some similarities. Investment is made in regular basis in SIP method also. This method has many advantages.

In this method, adverse conditions happen. Market status is the important criterion in this method. If the market is down, more number of units is bought at low cost. If the market is up, less number of units is bought at high cost. Though this variation occurs, the investment is not affected. This is due to a concept called "Averaging out the cost". Since fixed amount is invested in regular basis, this averaging out occurs. SIP method is very useful in ICICI fund schemes.

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Without the knowledge of mutual fund history, investing is not possible. Before investing, proper mutual fund analysis has to be done. Mutual fund investor is usually guided by manager. ICICI manager usually takes the decision about buying mutual funds. He does not take a decision easily. Before investing, he collects all the required information. We can purchase units of ICICI Prudential schemes using SIP method by three ways. The three payment options are listed here.

   * Auto Debit
   * Standing Instruction
   * Post Dated Cheques