Union Bank SIP Plan

The Union Bank SIP Plan (Systematic Investment Plan) offers a structured approach to investing in market-linked mutual fund^^ schemes. With this plan, you can regularly invest a fixed amount at predefined intervals, fostering disciplined wealth accumulation 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

What is the Union Bank SIP Plan?

The Union Bank Systematic Investment Plan (SIP) is a scheme offered by Union Mutual Fund House, the investment arm of Union Bank of India. It allows you to regularly invest a fixed amount of money in mutual funds. With these top SIP plans, you can build wealth over time by investing small amounts at regular intervals rather than investing a lump sum at once. 

This approach helps in averaging out the purchase cost of mutual fund units and reduces the impact of market volatility. You can choose the frequency of your investments (monthly, quarterly, etc.) and the amount you wish to invest.

Top Union Bank SIP Plans in India in 2024

Some of the Top Union Bank SIP Plans in India in 2024 are mentioned in the table below:

Fund Name Risk Category 1-Year Returns 3-Year Returns RSI*
Equity Funds
Union Small Cap Fund  Very High 41.40% 24.70% 16.00%
Union Midcap fund Very High 43.20% 23.30% 41.0%
Union Value Fund Very High 44.10% 21.70% 18.90%
Debt Funds
Union Liquid Fund Low to Moderate 7.30% 5.50% 6.50%
Union Medium Duration Fund Moderate 7.60% 5.30% 4.80%
Union Corporate Bond Fund Moderate 7.40% 5.30% 6.00%
Hybrid Funds
Union Aggressive Hybrid Fund Very High 30.30% 15.30% 16.00%
Union Balanced Advantage Fund Very High 20.80% 12.70% 11.10%
Union Equity Savings Fund Very High 15.50% 8.00% 9.10%
Solution-Oriented Funds
Union Retirement Fund Very High 42.00% -- 35.00%

*RSI: Returns Since Inception

Details of Top Performing Union Bank SIP Plans

  1. Union Small Cap Fund

    Union Small Cap Fund is a mutual fund scheme offered by Union Mutual Fund. It is an equity fund that invests in small-cap companies. The fund's objective is to achieve long-term capital appreciation by investing in a diversified portfolio of small-cap stocks.

    Features of Union Small Cap Fund:

    • Investment Objective: To grow your investment over the long haul by putting your money into a mix of stocks, mostly from smaller companies, with the goal of increasing their value.

    • Launch Date: December 30, 2009

    • Asset Allocation: Equity (95.80%), Debt (0.10%), and Money Market Instruments (4.10%)

    • Benchmark Index: S&P BSE 250 SmallCap

    • Assets Under Management (AUM): ₹ 1,327.85 Cr.

    • Fund Managers: Mr. Hardick Bora & Mr. Sanjay Bembalkar

    • Current NAV (as of March 19, 2024): ₹ 42.58

  2. Union Midcap Fund

    Union Midcap Fund is a mutual fund scheme offered by Union Mutual Fund. It is an equity fund that invests predominantly in equity and equity-related securities of mid-cap companies.

    Features of Union Midcap Fund:

    • Investment Objective: To increase your investment value over time and produce income by primarily investing in stocks and related securities of mid-sized companies.

    • Launch Date: December 30, 2009

    • Asset Allocation: Equity (96.30%), Debt (0.10%), and Money Market Instruments (3.60%)

    • Benchmark Index: S&P BSE 150 MidCap

    • Assets Under Management (AUM): ₹ 1,048.58 Cr.

    • Fund Managers: Mr. Hardick Bora, Mr. Sanjay Bembalkar, & Mr. Gaurav Chopra

    • Current NAV (as of March 19, 2024): ₹ 39.35

  3. Union Liquid Fund

    Union Liquid Fund is a debt mutual fund scheme offered by Union Mutual Fund. It is an open-ended fund that invests in money market instruments and short-term debt securities.

    Features of Union Liquid Fund:

    • Investment Objective: To offer decent returns while keeping risk low and ensuring high liquidity. It does this by investing in a mix of money market and debt securities.

    • Launch Date: December 30, 2009

    • Asset Allocation: Debt (89.90%) and Money Market Instruments (10.10%)

    • Benchmark Index: CRISIL Liquid Debt A-I Index

    • Assets Under Management (AUM): ₹ 2,739.96 Cr.

    • Fund Managers: Mr. Parijat Agrawal & Mr. Devesh Thacker

    • Current NAV (as of March 19, 2024): ₹ 2,321.99

  4. Union Medium Duration Fund

    The Union Medium Duration Fund is a debt mutual fund that invests in bonds with maturities ranging from 3 to 4 years. The fund's objective is to provide investors with regular income and capital appreciation.

    Features of Union Medium Duration Fund:

    • Investment Objective: To make money and increase capital by investing in fixed-income securities and money market instruments.

    • Launch Date: December 30, 2009

    • Asset Allocation: Debt (86.90%) and Money Market Instruments (13.10%)

    • Benchmark Index: CRISIL Medium Duration Debt B-III Index

    • Assets Under Management (AUM): ₹ 121.67 Cr.

    • Fund Managers: Mr. Parijat Agrawal & Mr. Anindya Sarkar

    • Current NAV (as of March 19, 2024): ₹ 11.79

  5. Union Aggressive Hybrid Fund

    The Union Aggressive Hybrid Fund is an aggressive hybrid fund, which means it invests in a mix of equity and debt instruments with a higher allocation to equity.

    Features of Union Aggressive Hybrid Fund:

    • Investment Objective: To grow your investment over the long run and earn income by mainly investing in stocks and related securities. It will also put money into Debt and money market instruments.

    • Launch Date: December 30, 2009

    • Asset Allocation: Equity (73%), Debt (20.60%), and Money Market Instruments (6.30%)

    • Benchmark Index: CRISIL Hybrid 35+65 Aggressive Index

    • Assets Under Management (AUM): ₹ 584.81 Cr.

    • Fund Managers: Mr. Parijat Agrawal, Mr. Hardick Bora, & Mr. Sanjay Bembalkar

    • Current NAV (as of March 19, 2024): ₹ 16.22

Benefits of Investing in Union Bank SIP Plans

Investing in Union Bank SIP plans can offer several benefits, including:

  • Rupee-cost averaging: Invest a fixed amount regularly, regardless of market changes, to average out mutual fund costs and reduce volatility impact.

  • Power of compounding: The best SIP plans offered by Union Bank reinvest returns along with the principal, compounding gains over time for significant investment growth.

  • Discipline: Regular fixed investments foster financial discipline, nurturing long-term saving and investing habits.

  • Flexibility: SIPs accommodate varying investment amounts and are suitable for all income levels, with the option to adjust contributions as financial circumstances evolve.

  • Wide range of choices: Union Bank offers SIPs across diverse mutual fund categories, facilitating portfolio diversification aligned with risk tolerance and financial objectives.

  • Convenience: Easily set up SIPs online or through the bank for automated, hassle-free investments at regular intervals.

  • SIP calculator: Use the SIP calculator to estimate potential returns from your SIP investments in Union Bank based on monthly investment, tenure, and expected rate of return.

In Summary

Union Bank SIP plans offer a convenient and systematic approach to investment. It allows you to achieve your financial goals through disciplined saving and compounding returns. With a range of options tailored to various risk appetites and investment horizons, Union Bank provides an accessible avenue for you to participate in the wealth creation journey efficiently.

FAQs

  • Which SIP of Union Bank is best?

    Union Mutual Fund, affiliated with Union Bank, offers various best SIP plans. Some of the best SIP options offered by Union Mutual Fund are as follows:
    • Union Small Cap Fund

    • Union Midcap Fund

    • Union Tax Saver (ELSS) Fund

    • Union Tax Saver (ELSS) Fund

    • Union Value Discovery Fund

  • Can we start SIP in Union Bank of India?

    No, you cannot directly start an SIP through the Union Bank of India. However, you can invest in Union Mutual Fund SIPs through various online platforms.
  • Is Union Bank SIP good?

    Union Mutual Funds offers a variety of SIPs with different risk-return profiles. Some perform well, while others might not suit your goals.
  • Is SIP in the bank safe?

    SIPs are generally considered safe for long-term wealth creation. They invest in Mutual Funds, which are regulated by SEBI (Securities and Exchange Board of India). However, safety also depends on the chosen Mutual Fund scheme. Equity SIPs have inherent market risks, while debt SIPs are typically less volatile.
  • What is Union Bank SIP?

    Union Bank SIP refers to the Systematic Investment Plans (SIPs) offered by the Union Mutual Fund House, that allows you to invest a fixed amount regularly in their Mutual Fund schemes.

+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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