10 Best SIP Plans for Rs 1000 Per Month in 2024
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 that ensures you a good return if invested correctly. There are some of the best SIP plans for 1000 per month with high returns, ensuring that 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). Individuals are free to invest in companies, stocks, or markets to accumulate a more significant corpus, thanks to this low entry point. Choose from the best SIP plans in India for 3 years, 5 years, or even 10 years; the wealth you accumulate will differ as 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 are considering investing Rs 1000 per month in SIP in 2024, we have come up with 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 where you can allocate a certain amount on stock or mutual funds weekly, monthly, or quarterly. It is managed by Asset Management Companies (AMCs) offering you the option of investment in bonds, securities, mutual funds, etc.
Whether you are a salaried person or an entrepreneur, SIP could be your ideal investment option to increase your wealth-gaining opportunity. Moreover, it reduces the risk of the volatile nature of the market. You have the option to invest for 3 to 10 years or even for the longer term. The return from the SIP majorly depends on the market or portfolio condition. You will the best SIP plans for 3 years or even for 10 years, depending on your investment requirement.
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 Rs 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 presently 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 made up 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. The overall goal of this scheme is 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 quant strategies—which assess and make investment decisions using statistical methods. To find possible investment opportunities, this method primarily focuses on quantitative aspects rather than qualitative analysis 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 major focus here is to make investments 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 big and mid-cap fund, meaning that it makes investments 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 component of the PGIM India Mutual Fund. It is an open-ended dynamic strategy that was introduced on March 4, 2015, and it includes small, medium, and large caps investments. The main of this fund is to create capital growth and income through the active management of a diverse portfolio of stock and equity-related securities, including derivatives.
Some details are-
- 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. Some details are-
- 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. Some factors to consider are market condition, fund performance, and investing objectives. No matter what financial objectives you are carrying, doing proper research on the fund matters the most.
Frequently Asked Questions
Q1: What is SIP, and how does it work?
Ans: SIP, or Systematic Investment Plan, is a disciplined way of investing in mutual funds. Investors contribute a fixed amount at regular intervals, allowing them to benefit from rupee-cost averaging and long-term wealth creation.
Q2: 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.
Q3: Which is the best SIP plan for 1000 per month?
Ans: Parag Parikh Flexi cap fund is the best mutual fund for a 1000-per-month SIP Plan.
Q4: What are the benefits of investing in SIPs?
Ans: SIPs offer benefits like 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.
Q5: Which SIP has the highest return?
Ans: Quant Flexi Cap fund has given the highest return for SIP.
Q6: Where should I invest my 1000 rupees?
Ans: You can invest 1000 rupees per month in India through systematic investment plans (SIPs) in mutual funds or recurring deposits in a bank.
Q7: Can I change my SIP amount or frequency?
Ans: Yes, most SIPs offer flexibility. Investors can increase or decrease the SIP amount and change the frequency based on their financial circumstances. Check with the fund house for specific terms and conditions.
Q9: Is there a minimum investment period for SIPs?
Ans: While there’s no fixed minimum investment period, it’s advisable to stay invested for the long term to maximize returns. However, SIPs offer liquidity, and investors can choose to redeem their units anytime.
Q10: 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.
Q11: Are SIP returns guaranteed?
Ans: No, SIP returns are subject to market fluctuations. They are influenced by the performance of the underlying securities in the mutual fund portfolio. Past performance does not guarantee future returns.
Q12: Can I start a SIP online?
Ans: Yes, most mutual fund houses offer online platforms for investors to start and manage SIPs. You can visit the fund house’s website, complete the necessary documentation, and start your SIP online.
Q13: Are SIPs tax-efficient?
Ans: Equity-linked SIPs qualify for Long-Term Capital Gains (LTCG) tax benefits if held for more than one year. Debt-linked SIPs are subject to taxation based on your income tax slab.
Q14: Can I stop or pause my SIP?
Ans: Yes, investors can stop or pause their SIPs at any time. 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 | April 16, 2024