Best SIP Plans for 1,000 Per Month in 2024

Systematic Investment Plans are an excellent way for you to invest in the best SIP plans for Rs. 1,000 per month and enjoy high returns. These investments require you to invest a small amount periodically instead of a lump sum payment and earn from the power of compounding. Let us dive into the choices that make investing simple and rewarding at just Rs. 1,000 a month.

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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 SIP?

The full form of SIP is a Systematic Investment Plan. It is a way of investing a fixed sum weekly, monthly, or quarterly in the best investment options. The SIP is pooled by the Asset Management Companies (AMCs) to invest in market-linked instruments like equities, bonds, debt securities, or balanced funds as per your risk profile. 

A major advantage of SIPs over lump sum investment is that it allows you to mitigate the risk of fluctuating market performance through rupee cost averaging. Since you are investing small amounts periodically, you have the option to see how your chosen fund is performing, based on which you can either choose to increase, decrease, or stop your investment. 

Best SIP Plans for 1,000 per Month

The following table lists the best SIP Plans for an investment of Rs. 1,000 per month:  

SIP Plan Name NAV*  (in Rs.) Fund Size Annualized 5 - Year Returns
ULIP Funds
HDFC Life- Discovery Fund 29.41 Rs. 3,020 21.9%
HDFC Life - Opportunities Fund 59.23 Rs. 31,393 Cr 16.60%
Kotak Life – Frontline Equity Fund 52.72 Rs. 2,317 Cr 16.30%
Bajaj Life – Accelerator Mid-cap Fund II 64.82 Rs. 5,017 Cr 15.00%
Bajaj Life – Pure Stock Fund 64.82 Rs. 5,250 Cr 14.70%
Mutual Funds
Quant Active Fund 567.33 Rs. 6,060 Cr 20.55%
Parag Parikh Flexi Cap Fund 67.01 Rs. 44,038 Cr 19.83%
Quant Focused Fund 74.94 Rs. 417 Cr 17.76%
Edelweiss Large & Mid Cap Fund 75.17 Rs. 2,221 Cr 16.34%
Kotak Equity Opportunities Fund 284.94 Rs. 15,261 Cr 17.03%

*NAV of funds as of 01 January 2024
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Tax benefit is subject to changes in tax laws. *Standard T&C Apply

Details of Best SIP Plans for 1000 per Month

  1. HDFC Life- Discovery Fund

    HDFC Life-Discovery Fund is an investment product offered by HDFC Life Insurance Company. It is a unit-linked insurance plan (ULIP) designed to provide a combination of insurance coverage and investment growth. The fund allows you to invest in a variety of market-linked instruments, such as equity and debt, based on your risk appetite and financial goals.

    Features of HDFC Life- Discovery Fund:

    • Investment Objective: The fund aims for long-term capital growth, focusing on mid-cap companies.

    • Mid-cap Focus: Invests up to 100% in mid-cap stocks, defined by the Nifty Midcap 100 index.

    • Flexibility: Allows up to 25% investment in stocks outside the mid-cap index range.

    • Diversification: May allocate up to 10% to fixed income, money market instruments, cash, deposits, and liquid mutual funds^^.

    • Inception Date: Launched on 03 Sep 2018 for investors.

    • Current NAV (as on 01 December 2023): Rs. 26.60

    • Benchmark Index: Nifty Midcap 100

    • Minimum investment: Rs. 1,000 per month

    • Asset Holdings: Equity (94.48%) and Deposits, Money Market Instruments, and Net Current Assets (5.52%)

    • Top 5 Equity Holdings: Trent Ltd. (2.14%), IndusInd Bank Ltd. (2.08%), AU Small Finance Bank Ltd. (1.88%), M&M Financial Services Ltd. (1.75%), and Torrent Power Ltd (1.72%).

    • Fund Manager: Mr. Nishit Dholakia

    Illustration of HDFC Life- Discovery Fund Returns:

    • If you invest monthly: Rs. 1,000

    • Period of investment: 5 years

    • HDFC Life- Discovery Fund Expected 5-year Annualised Returns: 21.90%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 1.09 lakhs

  2. HDFC Life - Opportunities Fund

    HDFC Life Opportunities Fund is an investment option offered by HDFC Life that aims to provide you with a platform to participate in diverse sectors and industries, allowing them to benefit from emerging trends and favourable market conditions. The fund is managed with the goal of optimizing returns by strategically navigating the dynamic landscape of financial markets.

    Features of HDFC Life- Opportunities Fund:

    • Objective: Seeks long-term capital appreciation by primarily investing in potential future blue-chip mid-cap stocks.

    • Mid-cap Focus: Invests in stocks with market capitalisation equal to or below the highest weighted stock in the NSE CNX Midcap Index.

    • Flexibility: Allows up to 20% investment in money market instruments/cash.

    • Inception Date: Commenced operations on 05 Jan 2010.

    • Current NAV (as on 01 December 2023): Rs. 54.63

    • Benchmark Index: Nifty MidCap 100

    • Minimum investment: Rs. 1,000 per month

    • Asset Holdings: Equity (97.48%) and Deposits, Money Market Instruments, and Net Current Assets (2.52%)

    • Top 5 Equity Holdings: Federal Bank Ltd. (2.36%), Indian Hotels Company Ltd. (2.26%), AU Small Finance Bank Ltd. (2.25%), REC Ltd. (2.06%), and Trent Ltd (1.92%).

    • Fund Manager: Mr. Nishit Dholakia

    Illustration of HDFC Life- Opportunities Fund Returns:

    • If you invest: Rs. 1,000 per month

    • Period of investment: 5 years

    • HDFC Life- Opportunities Fund Expected 5-year Annualised Returns: 16.60%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 93,833

  3. Kotak Life – Frontline Equity Fund

    Kotak Life Frontline Equity Fund is a mutual fund offered by Kotak Mahindra Life Insurance. It is an equity-oriented fund aiming for long-term capital appreciation by investing primarily in a diversified portfolio of stocks across sectors. The fund follows a frontline stock selection approach, focusing on established companies with strong growth potential.

    Features of Kotak Life- Frontline Equity Fund:

    • Objective: Achieve substantial capital growth by investing primarily in large-sized company equities.

    • Initiated On: Established on December 17, 2009.

    • Key Focus: Emphasizes significant holdings in equities of well-established, large-sized companies.

    • Current NAV (as on 01 December 2023): Rs. 49.56

    • Benchmark Index: BSE 100 (100%)

    • Minimum investment: Rs. 1,000 per month

    • Asset Holdings: Equity (96.04%) and Deposits, Money Market Instruments, and Net Current Assets (3.96%)

    • Top 5 Equity Holdings: ICICI Bank Ltd. (6.07%), Infosys Ltd. (5.60%), HDFC Bank Ltd. (5.56%), Reliance Industries Ltd. (4.81%), and I T C (3.73%).

    • Fund Manager: Mr Rohit Agarwal and Mr Manoj Bharadwaj

    Illustration of Kotak Life- Frontline Equity Fund Returns:

    • If you invest: Rs. 1,000 per month

    • Period of investment: 5 years

    • Kotak Life- Frontline Equity Fund Expected 5-year Annualised Returns: 16.30%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 93,037

    People Also Read: SIP Calculator

  4. Bajaj Life – Accelerator Mid-cap Fund II

    Bajaj Life Accelerator Mid-cap Fund II is an investment fund offered by Bajaj Life. It focuses on mid-cap stocks, aiming to provide investors with accelerated growth opportunities. The fund is designed to capitalize on the potential of mid-sized companies, offering a balanced investment approach for those seeking growth in their portfolio.

    Features of Bajaj Life – Accelerator Mid-cap Fund II:

    • Objective: Capital appreciation through a mix of mid-cap and large-cap stock investments.

    • Strategy: Diversified portfolio of mid-cap and large-cap stocks.

    • Goal: Increase capital value over time.

    • Approach: Invest in a variety of mid-sized and large companies for balanced growth

    • Key Focus: Investing in a diversified portfolio of mid-cap equity securities across various sectors.

    • Initiated On: January 6, 2010

    • Minimum investment: Rs. 1,000 per month

    • Benchmark Index: Nifty Midcap 50 Index

    • Asset Holdings: Equities (90%), and Debt (10%)

    • Top 5 Equity Holdings: Karur Vysya Bank Limited, LIC Housing Finance Limited, Federal Bank Limited, IDFC First Bank Limited, and Lupin Limited

    Illustration of Bajaj Life – Accelerator Mid-cap Fund II Returns:

    • If you invest: Rs. 1,000 per month

    • Period of investment: 5 years

    • Bajaj Life – Accelerator Mid-cap Fund II Expected 5-year Annualised Returns: 15.00%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 89,682

  5. Bajaj Life – Pure Stock Fund

    Bajaj Life - Pure Stock Fund is an investment option offered by Bajaj Life, focused on pure stock market exposure. It allows investors to participate in the equity market, aiming for capital growth. This fund primarily invests in stocks, providing a straightforward and targeted approach for those seeking stock-related investment opportunities.

    Features of Bajaj Life – Pure Stock Fund:

    • Objective: The Bajaj Life – Pure Stock Fund aims to provide long-term capital appreciation by investing primarily in equity securities of companies across market capitalisation.

    • Benchmark Index: S&P BSE 500 Index.

    • Key Focus: The fund manager focuses on investing in companies with strong fundamentals and growth prospects.

    • Initiated On: July 21, 2006.

    • Current NAV (as on 01 December 2023): Rs. 277.3

    • Minimum investment: Rs. 1,000 per month

    • Asset Holdings: Equity (95.94%) and Debt (4.06%)

    • Top 5 Equity Holdings: Reliance Industries Ltd, Infosys Ltd, Larsen & Toubro Ltd, Bharti Airtel Ltd, and Nestle India Ltd.

    Illustration of Bajaj Life – Pure Stock Fund Returns:

    • If you invest: Rs. 1,000 per month

    • Period of investment: 5 years

    • Bajaj Life – Pure Stock Fund Expected 5-year Annualised Returns: 14.70%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 88,928

  6. Quant Active Fund

    A Quant Active Fund is an investment fund that utilizes quantitative (mathematical and statistical) models to actively manage its portfolio. It relies on algorithmic strategies and data analysis to make investment decisions, aiming to outperform the market. This type of fund often employs advanced computer-based techniques to identify trading opportunities and manage risk dynamically.

    Features of Quant Active Fund:

    • Objective: To generate capital appreciation by investing in a diversified portfolio of equity securities across market capitalisations.

    • Benchmark Index: Nifty 500 Multicap 50:25:25 Total Return Index

    • Key Focus: Identifying undervalued stocks with strong growth potential

    • Initiated On: February 12, 2001

    • Minimum investment: Rs. 1,000 per month

    • Current NAV (as on December 1, 2023): Rs. 567.33

    • Asset Holdings: Equity (97.4%), Debt (2.6%)

    • Top 5 Equity Holdings: Reliance Industries Ltd. (5.83%), Aurobindo Pharma Ltd. (4.56%), Escorts Kubota Ltd. (4.35%), JIO Financial Services Ltd. (3.66%), and Punjab National Bank (3.25%)

    Illustration of Quant Active Fund Returns:

    • If you invest: Rs. 31000 per month

    • Period of investment: 5 years

    • Quant Active Fund Expected 5-year Annualised Returns: 20.55%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 1.05 lakhs

  7. Parag Parikh Flexi Cap Fund

    Parag Parikh Flexi Cap Fund is a mutual fund managed by Parag Parikh Mutual Fund. It offers flexibility in investing across market capitalizations, allowing the fund manager to adapt to changing market conditions. It follows a value-oriented and research-driven approach, focusing on quality stocks with growth potential. Investors benefit from the fund's dynamic asset allocation strategy and the expertise of the fund manager in navigating the stock market.

    Features of Parag Parikh Flexi Cap Fund:

    • Objective: To generate long-term capital growth from an actively managed portfolio of equity and equity-related securities.

    • Benchmark Index: NIFTY 500 TRI 

    • Key Focus: Investing in high-quality companies with sustainable growth potential. Following a disciplined investment approach based on in-depth research and analysis.

    • Initiated On: May 13, 2013

    • Minimum Investment: Rs. 1000 

    • Current NAV (as on 01 December 2023): Rs. 67.01

    • Asset Holdings: Domestic equity (84.24%) and Debt (14.44%)

    • Top 5 Equity Holdings: HDFC Bank, Bajaj Holdings & Investment Ltd, ITC Ltd, Axis Bank Ltd

    Illustration of Parag Parikh Flexi Cap Fund Returns:

    • If you invest: Rs. 1,000 per month

    • Period of investment: 5 years

    • Parag Parikh Flexi Cap Fund Expected 5-year Annualised Returns: 19.83%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 1.02 lakhs

  8. Quant Focused Fund

    A Quant Focused Fund is an investment fund that employs quantitative (quant) strategies, using mathematical models and statistical techniques to analyse and make investment decisions. This approach relies on data-driven insights and computer algorithms to identify potential investment opportunities, with a primary focus on quantitative factors rather than qualitative analysis.

    Features of Quant Focused Fund:

    • Objective: To generate capital appreciation and provide long-term growth opportunities by investing in a focused portfolio of large-cap companies.

    • Benchmark Index: NIFTY 50 Total Return Index

    • Key Focus: Identifying companies with strong growth potential and managing risk through a disciplined investment process.

    • Initiated On: 01 January, 2013

    • Minimum Investment: Rs. 1000

    • Current NAV (as on 01 December 2023): Rs. 74.94

    • Asset Holdings: Equity (90.4%), Debt and Money Market (5.71%)

    • Top 5 Equity Holdings: Reliance Industries Ltd, JIO Financial Services, DLF Ltd, Sun Pharmaceutical Inds. Ltd and Bikaji Foods International Ltd

    Illustration of Quant Focused Fund Returns:

    • If you invest: Rs. 1,000 per month

    • Period of investment: 5 years

    • Quant Focused Fund Expected 5-year Annualised Returns: 17.76%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 96,989

  9. Edelweiss Large & Mid Cap Fund

    The Edelweiss Large & Mid Cap Fund is an investment fund that focuses on a combination of large and mid-sized companies. This strategy aims to provide investors with a balanced portfolio, capturing growth opportunities from both established large-cap companies and emerging mid-cap firms. The fund is managed by Edelweiss Asset Management Limited, seeking to deliver optimal returns by diversifying across market capitalizations.

    Features of Edelweiss Large & Mid Cap Fund:

    • Objective: To generate long-term capital growth from a diversified portfolio of large-cap and mid-cap equity and equity-related securities.

    • Benchmark Index: S&P BSE Large & Midcap 500 Index

    • Key Focus: Identifying undervalued stocks with strong growth potential.

    • Initiated On: 01 January 2013

    • Minimum Investment: Rs. 500

    • Current NAV (as on 01 December 2023): Rs. 75.17%

    • Asset Holdings: Domestic equities (98.77%) and Debt (1.04%)

    • Top 5 Equity Holdings: HDFC Bank Ltd, ICICI Bank Ltd, Larsen & Toubro Ltd, State Bank of India, and State Bank of India

    Illustration of Edelweiss Large & Mid Cap Fund Returns:

    • If you invest: Rs. 3,000 per month

    • Period of investment: 5 years

    • Edelweiss Large & Mid Cap Fund Expected 5-year Annualised Returns: 16.34%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 93,143

  10. Kotak Equity Opportunities Fund

    The Kotak Equity Opportunities Fund is a mutual fund that aims to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related securities. Managed by Kotak Mahindra Asset Management Company, the fund seeks opportunities across sectors and market capitalisations to achieve its investment objectives. Investors looking for potential growth in the Indian equity market may consider this fund for their investment portfolio.

    Features of Kotak Equity Opportunities Fund:

    • Objective: To generate long-term capital appreciation by investing in a diversified portfolio of equity securities across market capitalisation.

    • Benchmark Index: Nifty Large Midcap 250 TRI

    • Key Focus: Identifying companies with strong growth potential,  diversifying across sectors and market capitalisations, and managing risk effectively.

    • Initiated On: 01 January, 2013

    • Minimum investment: ₹500

    • Current NAV (as on 01 December 2023): ₹284.94

    • Asset Holdings: Equity (96.06%) and Debt (0.48%)

    • Top 5 Equity Holdings: Axis Bank Ltd, Larsen & Toubro Ltd, Linde India Ltd, Bharat Forge Ltd, and ITC Ltd.

    Illustration of Kotak Equity Opportunities Fund Returns:

    • If you invest: Rs. 3,000 per month

    • Period of investment: 5 years

    • Kotak Equity Opportunities Fund Expected 5-year Annualised Returns: 17.03%

    • Total Investment: Rs. 60,000

    • Total Returns: Rs. 94,988

People Also Read: Systematic Withdrawal Plan (SWP)

Summing Up!

Selecting the best SIP plans for Rs. 1,000 per month involves carefully considering various factors such as fund performance, risk tolerance, and investment goals. It is essential to conduct thorough research to make informed decisions tailored to your individual preferences and financial objectives. By choosing wisely, you can optimize your returns and build a solid financial foundation through planned SIP investment.

FAQ's

  • Which SIP is best for 1000 per month?

    Some of the best SIPs for 1000 per month are listed below:
    • HDFC Life- Discovery Fund

    • Kotak Life – Frontline Equity Fund

    • Bajaj Life – Pure Stock Fund

    • Quant Active Fund

    • Parag Parikh Flexi Cap Fund

  • What is the best way to invest Rs. 1000 per month?

    The best way to invest Rs. 1000 per month depends on your individual circumstances and goals. However, here are a few general tips:
    • Start early

    • Invest regularly

    • Diversify your investments

    • Consider your risk tolerance

  • How to double 1000 rupees?

    Doubling your 1000 rupees can be achieved through various methods: 
    • Unit Linked Insurance Plans (ULIP)

    • Child Plans

    • Pension Plans

    • Mutual Funds

    • Real Estate

  • How much will I get if I invest 1000 in SIP?

    If you invest in a SIP of Rs. 1000 for 5 years in the Tata Flexi Growth Fund at an expected rate of 18%, you will earn Rs. 97,658 at the end of your maturity 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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