Q: I want to invest around 3000 a month. Can you suggest me a best SIP? Also I want to know if I can increase or decrease the amount later.
Answer: A mutual fund SIP has to be initiated with a pre-fixed amount, time frame & frequency. Currently there is no option to increase or decrease the amount once the SIP has started. This is because an SIP is normally done through either an ECS or post paid cheques. However, you can stop the SIP (within a months notice) and then restart another SIP in the same scheme if required with the fresh amount. As far as suggesting a best SIP, such decisions cannot be made in a vacuum. We can let you know that Equity investments are generally best for a SIP, but we need to understand your current situation before giving a recommendation, eg. your current portfolio, financial goals, the amount of savings required, the time horizon for your investment, and your risk taking capacity . It would be better to do your financial plan before identifying what mutual funds to invest in.
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From Your Expert @ InvestmentYogi