Best SIP Plans to Invest in India

Investing in market-linked assets is possible through two methods for NRIs: lump sum or single payment, and the Systematic Investment Plan (SIP). SIP involves disciplined investing in market-linked funds and is an ideal strategy for NRIs looking to build a substantial corpus.

SIP Insurance Plan Benefits

Start SIP with as low as ₹1000

No hidden charges

Save upto ₹46,800 in Taxunder section 80C^{^}

Zero LTCG Tax^¶

Disciplined & worry-free investing

Insurance Companies
Mutual Funds

Fund Name	3 Years	5 Years	10 Years
	Returns
Virtue II PNB Metlife	17.59%	26.28%	17.97% View Plan
Pure Equity Birla Sun Life	16.46%	22.3%	16.37% View Plan
Large Cap Equity Fund Tata AIA	15.6%	22.37%	16.08% View Plan
Pure Stock Fund Bajaj Allianz	16.09%	21.14%	15.63% View Plan
Grow Money Plus Fund Bharti AXA	12.28%	19.29%	15.52% View Plan
Diversified Equity Fund HDFC Standard	12.23%	18.23%	14.75% View Plan
Growth Super Fund Max Life	11.9%	17.66%	13.67% View Plan
Equity Fund SBI	12.46%	17.13%	13.21% View Plan
Bluechip Fund ICICI Prudential	10.9%	16.61%	12.33% View Plan
Growth Plus Fund Canara HSBC Oriental Bank	10.71%	14.33%	11.37% View Plan

Updated as of Oct 2024

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Fund Name	3 Years	5 Years	10 Years
	Returns
Active Fund QUANT	24.92%	31.48%	21.87%
Flexi Cap Fund PARAG PARIKH	20.69%	26.41%	19.28%
Large and Mid-Cap Fund EDELWEISS	22.34%	24.29%	17.94%
Equity Opportunities Fund KOTAK	24.64%	25.01%	19.45%
Large and Midcap Fund MIRAE ASSET	19.74%	24.32%	22.50%
Flexi Cap Fund PGIM INDIA	14.75%	23.39%	-
Flexi Cap Fund DSP	18.41%	22.33%	16.91%
Emerging Equities Fund CANARA ROBECO	20.05%	21.80%	15.92%
Focused fund SUNDARAM	18.27%	18.22%	16.55%

Updated as of Oct 2024

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Best SIP Plans in India in 2024

Here are the best SIP plans for 5 years of annualised returns. One can invest in these highest-return SIPs for the long term and earn significant gains at the end of their tenure:

Tata AIA Life – InvestAssure Superstar- Super Select Equity Fund

This is a Flexicap ULIP fund in which most of the investment is made under equity and equity-related instruments. Tata AIA Life's Super Select is a Flexi Equity Fund among the best SIP investment plans in the market. It diversifies its portfolio among various large-cap, mid-cap, as well as small-cap stocks. This fund is offering an average return of 15.53% in 10 years. Along with portfolio diversification, the fund managers under this fund focus on generating decent returns for their investors.
Aditya Birla Sun Life – Individual Pure Equity Fund

A joint venture of Sun Life Financial Incorporation and Aditya Birla Group, Aditya Birla Sun Life –Individual Pure Equity Fund is one of the best SIP plans in India. This SIP investment fund holds total assets of Rs. 13.62 billion until date with 10-year returns of over 15.23%. The Individual Pure Equity Flexicap fund focuses on growing the invested wealth of the investors exponentially.
Bajaj Allianz Pure Stock Fund

Bajaj Allianz offers this open-ended Flexi Cap Fund with its diverse equity portfolio of investing in small-cap, mid-cap, and large-cap funds. This pure stock fund holds a Net Asset Value of (Rs. 97.97 per share) and a total assets value of Rs. 44.03 billion. It is considered one of the best SIP plans as it invests most of the money in equity stock funds and offers a 10-year return of 14.93% annually. The date of incorporation of the fund scheme is July 21, 2006. The fund involves high risk-taking by the investor.
Tata AIA Life- Whole Life Aggressive Growth Fund

Tata AIA Life's Aggressive Growth Fund was incorporated on January 08, 2007, with a total assets value of Rs. 6.07 billion. This is one of the best SIP investment plans in the aggressive fund allocation category. This fund puts large money allocations in multiple assets like equity, precious metal ETFs, and more. The SIP plan puts larger funds of 61% in bond holdings and offers 10-year returns of 13.67. The risk involved is relatively higher in this fund scheme.
Future Generali India Life- Future Apex Fund

Future Generali Life's Future Apex Fund is an open-ended fund that invests in large-cap insurance stocks in India. The large blending investment style management of this fund invests 89% of its funds in equity holdings.This fund holds a Net Asset Value of Rs. 37.93 per share and a 10-year return of 12.78%. The highlight is that 18% of women directors and 7% of women executives are managing this fund.

How to Choose Between ULIPs and Mutual Funds?

Investors, especially NRIs, often face a dilemma in choosing between ULIP and MF-based systematic investment plans (SIPs). Our financial experts have conducted research to provide tailored insights for NRIs considering SIP investments:

Financial Management:
- SIP investments facilitate effective personal finance management for NRIs.
- Aids in creating a financial cushion to achieve life's financial objectives.
Regular Investment Management:
- Opting for the best SIP plan allows NRIs to manage investments regularly.
- Provides a simple and hassle-free approach to investment management.
Market-Dependent Returns:

While SIP mutual fund returns hinge on market performance, consider the top-performing SIP plans for 2024 for potential investment opportunities.

By considering these points, NRIs can make informed decisions on the most suitable SIP investment plan aligned with their financial goals.

Why Invest in an SIP in 2024?

One of the most common reasons why NRIs are attracted to investing in SIP is the inculcation of regular savings habits in small and regular intervals. Below are the reasons why you should invest in SIPs:

Investing Small Amounts

Similar to residents, NRIs can invest in SIPs with minimal amounts. SIPs allow for investments as low as Rs. 500 or even Rs. 100 in certain cases, making it accessible to a wide range of investors. The absence of a fixed investment barrier enhances its appeal among NRIs.

Rupee Cost Averaging

Given the inherent volatility of the equity market, SIPs prove advantageous for NRIs by facilitating the purchase of more units when prices are low and fewer units during market upswings. This strategy is particularly beneficial for those who prefer accumulating more shares at lower prices, as opposed to a lump-sum investment in a single stock.

Option to Run Multiple SIPs

NRIs can diversify their investment portfolio by opting for multiple SIPs rather than concentrating on a few specific stocks. Prudent choices in selecting diverse shares and investments can be highly advantageous for NRIs engaged in SIPs.

Flexibility

SIPs provide NRIs with the flexibility to initiate or cease their investments at their discretion. This flexibility remains intact even with lower invested amounts, allowing NRIs to tailor their investment strategy to their individual financial goals and circumstances.

How Can NRIs Maximise Returns with Minimum Investments?

To attain maximum benefits while investing in the best SIP plans, all you have to do is follow these simple steps:

Assess your future requirements with consideration for NRIs.

Create a list outlining the savings required to meet your goals.

Gain comprehensive knowledge about the SIP designed for NRIs.

Ensure all documentation and KYC processes are completed for seamless, uninterrupted investments.

Opt for a SIP aligning with your NRI-specific future objectives; use online SIP calculators for return estimations.

Diversify investments by allocating small amounts across multiple shares for optimal results.

Important Points to Remember Before Investing in Best Mutual Funds for SIP 2024

Start Investing Early in SIPs

In the long term, NRIs must start investing early to earn more benefits from the best SIP plans. The longer the tenure of investing, the higher the returns.

Understand Your Financial Needs

SIP investments can be made for as small as Rs.500 as per the scheme offered. So, learn your financial needs in the future and decide on paying a lump sum or SIPs. This eases the burden on your pocket.

Invest in Different SIPs for Particular Goals

Depending on your future obligations and goals, one should join separate SIP investment plans. Investment in different securities profiles offers different returns for the same tenure with different risks.

Make Investments as per Your Risk Appetite

Your risk-taking appetite is unique and depends on your age, investable income, financial obligations, and personality. Depending on your investment horizon, you must choose the risk portfolio for the best SIP plans you invest in.

Keep Evaluating Your Portfolio's Performance Regularly

An investor committed to building wealth should regularly assess the portfolios of their Systematic Investment Plan investments, especially considering the unique financial landscape faced by Non-Resident Indians (NRIs). This practice ensures that underperforming companies are swiftly identified and excluded from your portfolio, ultimately enhancing returns substantially.

Conclusion

SIPs provide NRIs with excellent investment opportunities to build a substantial corpus through gradual investments over an extended period. These plans are accessible to investors residing anywhere globally. Explore the top SIP plans highlighted in this article to make informed investment decisions tailored to the preferences of NRIs.

FAQ's

Can I withdraw SIP anytime?

Yes, one can withdraw from SIP investments anytime if the returns are not up to your expectations or if one is not able to fulfil your financial goals.

Is SIP tax-free?

SIP investments made in ELSS schemes are eligible for tax exemptions of up to Rs. 1.5 lakhs under Section 80C of the IT Act, 1961. The SIP returns earned from investments made for more than 1 year are considered as Long Term Capitals Gain (LTCG), taxable per the government rules.

Does SIP Investment offer tax benefits in 2024?

Not all SIP plans offer tax benefits. The investment made through SIP in an equity-linked savings scheme is applicable for tax exemption under section 80C of the Income Tax Act.