SBI SIP Plans (Systematic Investment Plan)

SBI Systematic Investment Plan or SBI SIP Plan is a convenient and disciplined approach to investing in market-linked funds. SBI Mutual Fund and SBI Life Insurance offer the best SBI SIP plans that allow you to regularly contribute a fixed amount towards mutual funds^^ or ULIP funds, helping you build a financial corpus over time.

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SIP Benefits
Start SIP with as low as ₹1000
Start SIP with as low as ₹1000
No hidden charges
No hidden charges
Save upto ₹46,800 in Tax
Save upto ₹46,800 in Taxunder section 80 C
Zero LTCG Tax
Zero LTCG Tax^ (Unlike 10% in Mutual Funds)
Disciplined & worry-free investing
Disciplined & worry-free investing

  • Insurance Companies
  • Mutual Funds
Returns
Fund Name 3 Years 5 Years 10 Years
Top 200 Fund Tata AIA 26.72% 27.01%
20.76%
View Plan
Virtue II PNB Metlife 24.45% 22.83%
18.66%
View Plan
Pure Equity Birla Sun Life 23.41% 19.4%
17.94%
View Plan
Growth Opportunities Plus Fund Bharti AXA 20.27% 18.65%
17.15%
View Plan
Pure Stock Fund Bajaj Allianz 19.12% 17.41%
16.85%
View Plan
Blue Chip Fund HDFC Standard 16.13% 14.55%
14.23%
View Plan
Growth Super Fund Max Life 16.37% 15.04%
14.01%
View Plan
Multi Cap Growth Fund ICICI Prudential 17.36% 13.61%
13.57%
View Plan
Equity Fund SBI 16.9% 14.63%
13.5%
View Plan
Equity II Fund Canara HSBC Oriental Bank 15.99% 12.31%
11.69%
View Plan

Updated as of Apr 2024

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  Returns
Fund Name 5 Years 10 Years RSI
Active Fund QUANT 27.80% 23.96%
21.08%
Large and Mid Cap Fund QUANT 23.27% 22.69%
19.64%
Flexi Cap Fund PARAG PARIKH 23.90% 20.22%
20.15%
Large and Mid Cap Fund EDELWEISS 20.32% 18.01%
16.76%
Equity Opportunities Fund KOTAK 20.22% 18.98%
17.44%
Large and Midcap Fund MIRAE ASSET 21.11% 24.56%
23.01%
Flexi Cap Fund PGIM INDIA 21.48% -
15.13%
Flexi Cap Fund DSP 19.48% 17.73%
15.82%
Emerging Equities Fund CANARA ROBECO 18.91% 22.92%
20.84%
Focused fund SUNDARAM 18.22% 16.55%
15.16%

Updated as of Apr 2024

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What is the SBI SIP Plan?

SBI SIP Plans is a Systematic Investment Plan offered by SBI Mutual Fund and SBI Life Insurance Company. It allows you to invest a fixed amount of money in a chosen market-linked fund scheme at regular intervals, like monthly, quarterly, or even weekly.

The SIP in SBI offers a range of investment options tailored to different risk appetites and investment goals, which makes it accessible for both new and experienced investors to participate in the financial markets.

Top SBI SIP Plans in India in 2024

SBI offers a wide variety of best SIP plans to cater to different investment goals and risk appetites. Some of the top SBI SIP plans to consider in India for 2024:

  1. SBI SIP Plans - ULIP Plans

    You can invest in SBI ULIP plans and choose to pay the premium regularly on a monthly, quarterly, or semi-annual basis.

    Following are the top market-linked funds offered under SBI ULIP Plans for SIP investment:

    Fund Name Risk Category 3 Years 5 Years RSI* Check Plan
    Equity Fund High 15.1% 15.5% 16.3%
    Bond Fund Low  5.3% 6.8% 8.1%
    Money Market Fund Low 5% 5.1% 6.6%

    *RSI: Returns Since Inception

  2. SBI SIP Plan - Mutual Funds

    SBI offers a wide variety of SIP plans across various categories of SBI mutual fund schemes; some of them are mentioned below

    Fund Name Risk Category 3 Years 5 Years RSI*
    Equity Funds
    SBI Magnum Equity ESG Fund Very High 14.97% 16% 14.45%
    SBI Large & Midcap Fund Very high 21.33% 19.99% 15.02%
    SBI Long-Term Equity Fund Very High 26.53% 22.18% 16.54%
    Debt Funds
    SBI Magnum Income Fund Moderately High 5.41% 7.62% 7.57%
    SBI Magnum Medium Duration Fund Moderately High 5.57% 7.61% 7.78%
    SBI Liquid Fund Low to Moderate 5.22% 5.13% 6.89%
    Hybrid Funds
    SBI Equity Hybrid Fund Very High 12.55% 14.2% 15.23%
    SBI Conservative Hybrid Fund High 10.37% 10.84% 8.44%
    SBI Multi Asset Allocation Fund Very High 14.4% 13.64% 11.75%
    Solution – Oriented Schemes
    SBI Magnum Children's Benefit Fund - Savings Plan High 13.14% 11.53% 10.7%
    SBI Magnum Children's Benefit Fund- Investment Plan Very High 33.19% -- 40.36%
    SBI Retirement Benefit Fund Aggressive Plan Very High 21.03% -- 20.39%
    Other Mutual Fund Schemes
    SBI Nifty Index Fund High 15.43% 15.71% 14.28%
    SBI Gold ETF High 9.63% 12.32% 9.26%
    SBI Gold Fund Very High 9.17% 12.18% 5.11%

    *RSI: Returns Since Inception

Details of Top Performing SBI SIP Investment in ULIP Plans

  1. SBI Equity Fund

    SBI Equity Fund is a Unit Linked Insurance Plan (ULIP) offered by SBI Life Insurance. It is a market-linked investment option that invests in a portfolio of equity and debt instruments.

    Features of SBI Equity Fund:

    • Investment Objective: To maximize long-term returns with a focus on high equity exposure.

    • Launch Date: January 10, 2005

    • Asset Allocation: Equity (80 – 100%), Debt (0 – 20%), and Money market (0 – 20%)

    • Benchmark Index: NIFTY 50

    • Assets Under Management (AUM): ₹ 63,383 Cr.

    • Fund Managers: Mr. Gopikrishna Shenoy & Mr. Dharmesh Gandhi

    • Current NAV (as of January 31, 2024): ₹ 175.36

  2. SBI Bond Fund

    The SBI Bond Fund is a Unit Linked Insurance Plan (ULIP) offered by SBI Life Insurance. ULIPs are a type of investment-linked insurance product that combines insurance coverage with investment opportunities.

    Features of SBI Bond Fund:

    • Investment Objective: To offer a stable and low-risk investment option by primarily investing in debt instruments and generating income through fixed-income securities.

    • Launch Date: January 10, 2005

    • Asset Allocation: Debt (60 – 100%) and Money market (0 – 40%).

    • Benchmark Index: Crisil CompBex

    • Assets Under Management (AUM): ₹ 23,060 Cr.

    • Fund Managers: Mr. Nirmal Gandhi

    • Current NAV (as of January 31, 2024): ₹ 43.9651

  3. SBI Money Market Fund

    The SBI Money Market Fund is an ultra-short-duration debt fund offered by SBI Life Insurance Company. It invests in short-term debt instruments like certificates of deposit, commercial papers, and treasury bills. These instruments typically have maturities of less than one year.

    Features of Money Market Fund:

    • Investment Objective: To offer a choice to invest funds in liquid and secure instruments temporarily, minimizing exposure to market risks.

    • Launch Date: February 01, 2006

    • Asset Allocation: Debt (0 – 20%) and Money market (80 – 100%)

    • Benchmark Index: CRISIL T-Bill Index

    • Assets Under Management (AUM): ₹ 391.65 Cr.

    • Fund Managers: Mr. Raghavan MJ

    • Current NAV (as of January 31, 2024): ₹ 31.8541 

Details of Top SBI SIP Investments in SBI Mutual Funds

  1. SBI Magnum Equity ESG Fund

    The SBI Magnum Equity ESG Fund is a thematic mutual fund scheme offered by SBI Mutual Fund. It invests in companies that follow environmental, social and governance (ESG) practices.

    Features of SBI Magnum Equity ESG Fund:

    • Investment Objective: To provide investors with opportunities for long-term capital growth through active management of investments in a diversified basket of companies following Environmental, Social and Governance (ESG) criteria.

    • Launch Date: January 01, 1991

    • Asset Allocation (as of March 11 2024): Equity (96.30%) and Money market (3.70%)

    • Benchmark Index: NIFTY 100 ESG Index 

    • Assets Under Management (AUM): ₹ 5481.75 Cr.

    • Fund Managers: Mr. Rohit Shimpi & Mr. Pradeep Kesavan

    • Current NAV (as of January 31, 2024): ₹ 207.48

  2. SBI Magnum Income Fund

    SBI Magnum Income Fund is a medium to long-duration debt mutual fund scheme offered by SBI Mutual Fund. It aims to provide investors with regular income by investing in Debt and money market instruments with a maturity period of between 4 and 7 years.

    Features of SBI Magnum Income Fund:

    • Investment Objective: To provide investors an opportunity to generate regular income through investments in Debt and money market instruments.

    • Launch Date: June 29, 1987

    • Asset Allocation (as of March 11 2024): Debt (97.30%), and Money Market (2.70%)

    • Benchmark Index: CRISIL T-Bill Index

    • Assets Under Management (AUM): ₹ 1,728.85 Cr

    • Fund Managers: Mr. Lokesh Mallya, Mr. Pradeep Kesavan, and Mr. Adesh Sharma.

    • Current NAV (as of January 31, 2024): ₹ 68.30

  3. SBI Equity Hybrid Fund

    The SBI Equity Hybrid Fund is an aggressive hybrid mutual fund scheme offered by SBI Mutual Fund. It invests in a mix of equity and debt instruments, with a larger allocation towards equities (around 65-80%) compared to Debt (around 20-35%).

    Features of SBI Equity Hybrid Fund:

    • Investment Objective: To achieve capital appreciation through a combination of equity and debt investments.

    • Launch Date: June 29, 1987

    • Asset Allocation (as of March 11 2024): Equity (76.40%), Debt (20.50%), and Money market (1.40%)

    • Benchmark Index: CRISIL Hybrid (35%) & Aggressive Index (65%)

    • Assets Under Management (AUM): ₹ 65,073.71 Cr. 

    • Fund Managers: Mr. Rama Iyer Srinivasan, Mr. Rajeev Radhakrishnan, Ms. Mansi Sajeja, and Mr. Pradeep Kesavan.

    • Current NAV (as of January 31, 2024): ₹ 272.22

  4. SBI Magnum Children's Benefit Fund - Savings Plan

    The SBI Magnum Children's Benefit Fund - Savings Plan is a mutual fund scheme designed for investors saving for a child's future needs. This investment plan invests in a mix of Debt and equity instruments. Debt instruments provide regular income, while equity provides a capital appreciation for the long term.

    Features of SBI Magnum Children's Benefit Fund:

    • Investment Objective: This plan is solution-oriented and targets long-term wealth creation for your child's future needs. It invests predominantly in equity stocks but comes with a 3-year lock-in period.

    • Launch Date: June 29, 1987

    • Asset Allocation (as of March 11 2024): Equity (64.50%), Debt (24.50%), and Money market (10.90%)

    • Benchmark Index: NIFTY 50 Hybrid Composite Deb (15:85) Index

    • Assets Under Management (AUM): ₹ 108.44 Cr.

    • Fund Managers: Mr. Rama Iyer Srinivasan, Mr. Rajeev Radhakrishnan, and Mr. Pradeep Kesavan.

    • Current NAV (as of January 31, 2024): ₹ 101.79

  5. SBI Nifty Index Fund

    The SBI Nifty Index Fund is a large-cap index mutual fund scheme offered by SBI Mutual Fund. It invests in the same proportion as the Nifty 50 index, which is a benchmark index of the National Stock Exchange of India.

    Features of SBI Nifty Index Fund:

    • Investment Objective: To achieve long-term capital appreciation by passively investing in stocks that comprise the Nifty 50 Index in the same proportion as their weightage in the index.

    • Launch Date: June 29, 1987

    • Asset Allocation (as of March 11 2024): Equity (100.40%), and Money Market (–0.40%)

    • Benchmark Index: CRISIL T-Bill Index

    • Assets Under Management (AUM): ₹ 6,493.78 Cr.

    • Fund Managers: Mr. Raviprakash Sharma, and Mr. Pradeep Kesavan

    • Current NAV (as of January 31, 2024): ₹ 205.30

Benefits of Investing in SBI SIP Plans

Investing in SBI SIP plan offers numerous advantages, such as follows:

  • Saving Regularly: SIPs help you save money regularly because you invest a fixed amount of money at regular intervals.

  • Buying Smartly: SIPs let you buy more shares when prices are low and fewer shares when prices are high, so you end up paying an average price over time.

  • Growing Your Money: SIPs make your money grow by reinvesting the profits you earn, which can make a big difference over a long time.

  • Choice and Control: SBI SIP plans give you options to choose how much and how often you invest so you can match it to your needs and comfort.

  • Spreading Risk: SBI offers different types of SIP plans, so you can spread your money across different types of investments, which helps lower your risk.

  • Expert Help: Professionals manage SBI SIP plans, so you benefit from their knowledge and experience.

  • Starting Small: You do not need a lot of money to start investing in SBI SIP plans, which makes it accessible to many people.

  • Being Safe: SBI SIP plans to follow rules and regulations to keep your money safe and make sure everything is fair and clear.

In Summary

SBI SIP plans offer a convenient and disciplined approach to investing in market-linked funds, catering to various risk profiles and investment goals. With their flexibility, affordability, and expert management, SBI SIP plans empower you to steadily grow your wealth over time, making them a valuable option in the financial landscape.

FAQs

  • What are the benefits of investing in SBI SIP plans?

    There are several benefits, including rupee-cost averaging (balancing investment cost), leveraging the power of compounding (earning interest on interest), and disciplined investing habits.
  • What types of SBI SIP plans are available?

    SBI SIP investment options offer a wide variety of SIP plans across equity (stocks), debt (bonds), hybrid (mix of stocks and bonds), and other asset classes. You can choose a plan based on your investment goals and risk tolerance.
  • What is the minimum investment amount for an SBI SIP plan?

    The minimum investment amount varies depending on the chosen scheme, but it can be as low as ₹500 per month, making it accessible to many investors.
  • Can I change the investment amount of my SBI SIP plan?

    Yes, most SBI SIP plans allow you to modify the investment amount or frequency after a certain initial investment period.

+For Mutual Fund midcap category Returns https://www.morningstar.in/tools/mutual-fund-category-performance.aspx & for Insurance midcap fund category Returns- https://www.morningstar.in/tools/insurance-fund-category-performance.aspx
*Past 10 Year annualised returns as on 01-12-2023
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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