10 Best SIP Plans for Rs 1000 Per Month in 2024

Best SIP Plans

The eco-system of financial investment and returns is evolving rapidly, offering maximum options for investors. Of all the financial investment plans, SIP is the preferred option to ensure a good return if invested correctly. Some of the best SIP plans for 1000 per month with high returns ensure you choose and invest regularly without holding back. 

You can begin SIPs with as little as ₹500 or ₹1000 at many asset management companies (AMCs). This low entry point allows individuals to invest in companies, stocks, or markets to accumulate a more significant corpus. Choose from the best SIP plans in India for 3 years, 5 years, or even 10 years; the wealth you accumulate will differ per the market rate. By averaging the acquisition cost, SIPs help protect against market volatility, and you can follow a disciplined approach to gaining wealth in the short or long term. 

If you consider investing Rs 1000 per month in SIP in 2024, we have developed the 10 best SIP plans with high returns. But before that, check out some insights about the SIP.

What is SIP?

SIP (Systematic Investment Plan) is one of the best financial investment options, and you can allocate a certain amount on stock or mutual funds weekly, monthly, or quarterly. It is managed by Asset Management Companies (AMCs), which offer you the option of investing in bonds, securities, mutual funds, etc.  

SIP could be your ideal investment option to increase your wealth-gaining opportunity, whether you are a salaried person or an entrepreneur. Moreover, it reduces the risk of the volatile nature of the market. You can invest for 3 to 10 years or even longer. The return from the SIP majorly depends on the market or portfolio condition.  Depending on your investment requirement, you will find the best SIP plans for 3 years or even for 10 years.

Benefits of Investing in Mutual Funds through SIP

Mutual fund investors can benefit from SIP if done correctly in the best SIP plans. With the assistance of the Instock Broker platform, you can select and decide which mutual fund is best to invest in through SIP. Some of the benefits you can have are-

Rupee Cost Averaging:

SIP allows investors to purchase more units at times of low price and fewer units during times of high price by gradually averaging out the cost of investing. This approach can produce reduced average costs per unit, which is helpful in volatile markets.

Power of Compounding:

Over time, extra profits are generated by reinvested returns from SIP investments. The compounding effect is the name given to this occurrence. Disciplined investment through SIP can increase wealth over extended periods, say five or ten years, to help achieve long-term objectives.

Flexibility:

With SIPs, investors can begin investing in mutual funds with a small initial contribution and adjust their allocation by adding or subtracting funds. By offering the ease of automatic withdrawals from a bank account, SIPs further simplify investing.

Risk Management and Stock Diversification:

By spreading your investment among several different assets, mutual fund SIPs lower the risk of making a single stock or industry investment. This strategy aids in successfully reducing risk.

10 Best SIP Plans for 1000 per month with High Returns in 2024

If you are planning to invest in SIP in 2024 with Rs 1000 per month, below are the top 10 plans to choose from-

Mutual Fund Name Expected Return Type of Fund Sector Expense Ratio Offer
HDFC Life- Discovery Fund 12 % per year Equity Fund Insurance 2.80% Start Now
Quant Large 28.52 per year Equity Fund Nifty Stocks 1.50% Start Now
Parag Parikh Flexi Cap Fund 15% per year Equity Fund Sensex Fund 1.50% Start Now
Quant Focused Fund 19.19% per year Mixed Fund Nifty Stocks 2.38% Start Now
Tata Digital India Fund 20% per year Equity Fund IT Stocks 0.32% Start Now
ICICI Prudential Technology 17.35% per year Equity Fund IT Stocks 0.32% Start Now
Aditya Birla Sun Life Digital India 17.35% per year Equity Fund IT Stocks 0.08% Start Now
Edelweiss Large & Mid Cap Fund 15% per year Equity Fund Nifty Stocks 0.47% Start Now
PGIM India Flexi Cap Fund 21.98% per year Mixed Fund Sensex Fund 0.41% Start Now
Sundaram Focused Fund 16.25% per year Equity Fund Healthcare 1.27% Start Now

1. HDFC Life- Discovery Fund

The discovery fund by the HDFC Life Insurance company is the best SIP plan for 3 years or more you can consider. It comes under the unit-linked insurance plan (ULIP) that combines investment growth with insurance coverage. Investing in a range of market-linked securities, including debt and equities, is possible with the fund, contingent on your financial objectives and risk tolerance.

Fund Details

  • AUM- Rs 2.5 lakh crore
  • Aim- The aim is for long-term capital growth and the focus is on mid-cap companies.
  • Minimum investment- Rs 1000 per month
  • Fund category- Mid-Cap
  • Fund Manager: Mr. Nishit Dholakia

SIP Illustration

Monthly investment – Rs 1000

Period of Investment-3 years

Invested amount- Rs 36,000

Total Invested years-  20

Expected percentage- 12%

Expected Return- Rs 2.99 lac approx

2. Quant Large and Mid-Cap Fund Direct-Growth

The Quant Large and Mid-Cap Fund Direct-Growth by Quant Mutual Fund went live on January 1, 2013, and is the best SIP plan for 5 years. It functions as an open-ended scheme, and its primary goals are long-term growth possibilities and capital appreciation. Strategic portfolio investments of both large- and mid-cap enterprises are used to accomplish this. 

Fund Details

  • AUM- Rs 1,296.16 crore
  • Minimum investment- Rs 1000 per month
  • Risk- Avg
  • Fund Manager- Mr. Sanjeev Sharma

SIP Illustration

Monthly investment – Rs 1000

Period of Investment- 5 years

Invested amount- Rs 60,000

Expected percentage- 28.52% per year

Total Wealth Gain- 60,802

Expected Return- Rs 1,21,000

3. Parag Parikh Flexi Cap Fund

Parag Parikh Flexi Cap Fund is an equity plan offered under PPFAS Mutual Fund. Debuted in 2013, this SIP plan is open-ended and invests in equities from large, mid, and small-cap categories. This scheme aims to create long-term capital growth using a well-managed portfolio of assets linked to equity and fairness.

Fund Details

  • AUM: Rs 293.88 Cr
  • Category of Fund: Flexi Cap
  • Risk: Very High
  • Fund Manager: Rajeev Thakkar, Raunak Onkar, Rukun Tarachandani, Raj Mehta

SIP Illustration

Monthly investment- Rs 1000

Period of Investment-  5 years

Invested amount- Rs 60,000

Expected return- 15%

Total wealth gained – Rs 29,682

Expected Amount- Rs 89,682 Approx

4) Quant Focused Fund

Quant Focused Fund uses quantitative strategies, which assess and make investment decisions using statistical methods. This method primarily focuses on quantitative aspects rather than qualitative analysis to find possible investment opportunities and uses data-driven insights and computer algorithms.

Fund Details

  • AUM: Rs 480.67 Cr
  • Expense Ratio: 2.38%
  • Category of Fund: Large Cap
  • Risk: Very high
  • Fund Manager: Ankit Pande, Vasav Sahgal, Sanjeev Sharma

SIP Illustration

Monthly investment- Rs 1000

Period of Investment- 10 years

Total amount- Rs 120000

Expected interest- 19.19%

Total Approx return- Rs 3,29 lac Approx

5) Tata Digital India Fund Direct-Growth

Tata Digital India Fund Direct-Growth is one of the best SIP plans for 1000 per month for 3 years, offering an average annual return of 20.25%. It is the best for long-term capital gain and falls under the growing IT sector in India. If you plan to invest in this SIP for 3 years, the maximum annual return you can expect is around 25.8%, depending on the market condition. 

Fund Details

  • AUM- Rs 8,606cr
  • Expense Ratio: 0.32%
  • Category of Fund: Equity: Sectoral-Technology
  • Risk: Very high
  • Fund Manager: Meeta Shetty

SIP Illustration

Monthly investment – Rs 1000

Period of Investment- 3 years

Annual returns- 20.04%

Total Investments- Rs 36,000

Total return- Rs 48,200 approx. 

6) The ICICI Prudential Technology Direct Plan-Growth

Another best SIP plan for 3 years is the ICICI Prudential Technology Direct Plan-Growth, where funds are invested in shares of IT companies. If you have a 3-year SIP goal, the ICICI Prudential Technology Direct Plan-Growth is the best option.

Fund Details

  • AUM- ₹11,580.27 Crores
  • Expense Ratio: 0.32%
  • Category of Fund: Technology securities
  • Risk: Very high
  • Fund Manager- Vaibhav Dusad

SIP Illustration

Monthly investment- Rs 1000

Period of Investment 3 years

Annual returns- 17.35%

Total Investments- Rs 36,000

Total return- Rs 46,423 approx.

7) Aditya Birla Sun Life Digital India Fund

Aditya Birla Sun Life Digital India Fund is the best SIP plan for 10 years, offering good returns to investors. The goal of the open-ended, multi-sector Sun Life Digital India Fund is long-term capital growth with a 100% allocation across the portfolio. 

The primary focus here is to invest in tech industries, including e-commerce, hardware, software, telecom, and internet, as well as peripherals and component companies. The scheme’s secondary goal is to pay out dividends and create revenue.

Fund Details

  • AUM- Rs ₹4,284 Crs.
  • Expense Ratio: 0.8%
  • Category of Fund: Equity: Sectoral-Technology
  • Risk: Very high
  • Fund Manager: Kunal Sangoi

SIP Illustration

Monthly investment – Rs 1000

Period of Investment- 10 

Annual returns- 23.23%

Total Investments- Rs 1.2 lac

Total return- Rs 4,09 lac approx.

8) Edelweiss Large & Mid Cap Fund

Edelweiss Mutual Fund offers an open-ended equity program called the Edelweiss Large & Mid Cap Fund. It was introduced on January 1st, 2013, and is classified as a significant and mid-cap fund, meaning it invests in a mix of mid-cap and large-cap stocks. 

Fund Details

  • AUM: 2,436.70Cr
  • Expense Ratio: 0.47%
  • Category of Fund: Medium-sized
  • Risk: Very high
  • Fund Manager: Abhishek Gupta, Trideep Bhattacharya

SIP Illustration

Monthly investment – Rs 1000

Period of Investment- 5-year

Annual returns- 15%

Total Investments- Rs 60,000

Total return- Rs 89,682 approx.

9) PGIM India Flexi Cap Fund

PGIM India Flexi Cap Fund is a PGIM India Mutual Fund component. It is an open-ended dynamic strategy introduced on March 4, 2015, and includes small, medium, and significant caps investments. The primary purpose of this fund is to create capital growth and income by actively managing a diverse portfolio of stock and equity-related securities, including derivatives. 

Fund Details

  • AUM: ₹5,891.74 Cr
  • Expense Ratio: 0.41%
  • Category of Fund: Flexi
  • Risk: Very high
  • Fund Manager- Anandha A

SIP Illustration

Monthly investment – Rs 1000

Period of Investment- 5 

Annual returns- 21.98%

Total Investments- Rs 60,000

Total return- Rs 1.03 lac approx

10) Sundaram Focused Fund

Sundaram Focused Fund offers one Focused mutual fund plan under Sundaram Focused Fund Direct-Growth. The fund has been around for a decade, and its bulk capital is allocated to the financial, services, healthcare industries, and technology.

Fund Details

  • AUM: ₹950 Cr
  • Expense Ratio: 1.27%
  • Category of Fund: Multi-cap
  • Risk: Very high
  • Fund Manager- Sudhir Kedia and Ravi Gopalakrishnan

SIP Illustration

Monthly investment – Rs 1000

Total years- 10yrs

Annual returns- 16.25%

Total Investments- Rs 1.2 lakh

Total return- Rs 2.81 lakh

Conclusion

These best monthly SIP plans with high returns by paying Rs 1000 per month require careful consideration. Market condition, fund performance, and investing objectives are factors to consider. No matter what financial objectives you are carrying, properly researching the fund matters the most.

 

Frequently Asked Questions

Q1: How do I choose the best SIP plan for me?

Ans: Consider your financial goals, risk tolerance, and investment horizon. Assess the fund’s historical performance, fund manager’s track record, expense ratio, and the fund’s alignment with your investment objectives.

Q2: What are the benefits of investing in SIPs?

Ans: SIPs offer rupee-cost averaging, flexibility in investment amounts, compounding returns, and disciplined investing. They are an excellent tool for long-term wealth creation and goal fulfillment.

Q3: Which SIP has the highest return?

Ans:  The Quant Flexi Cap fund has the highest SIP return.

Q4: Is there a minimum investment period for SIPs?

Ans:  While there’s no fixed minimum investment period, long-term investment is advisable to maximize returns. However, SIPs offer liquidity, and investors can redeem their units anytime.

Q5: How do SIPs help manage market volatility?

Ans: SIPs enable investors to buy more units when markets are low and fewer units when markets are high. This strategy of rupee-cost averaging helps manage market volatility and reduces the impact of market fluctuations on investments.

Q6: Are SIP returns guaranteed?

Ans: No, SIP returns are subject to market fluctuations. The performance of the underlying securities in the mutual fund portfolio influences them. Past performance does not guarantee future returns.

Q7: Are SIPs tax-efficient?

Ans: If held for over a year, equity-linked SIPs qualify for Long-Term Capital Gains (LTCG) tax benefits. Debt-linked SIPs are subject to taxation based on your income tax slab.

Q8: Can I stop or pause my SIP?

Ans: Yes, investors can stop or pause their SIPs anytime. Some fund houses may have specific procedures for this, so it’s advisable to contact customer service or refer to the fund’s documentation for guidance.

 

by Instockbroker Team | May 28, 2024

Lifetime Zero AMC Demat Account