HDFC AMC has launced a new product called Topup SIP , this is a add-on to an exisiting SIP. The investor would need to specify a fixed amount and choose a time interval . The SIP installment would be increased by the fixed amount ,once every specified time interval
Let me explain , Suppose you have a SIP currently in progress for Rs.2000, and you opt for the Topup SIP and specify Rs.1000 , every six months for next 2 years . then after the first six months your SIP installment would be increased to Rs.3000 ( Rs.2000 + Rs.1000) and this would remain so for next 6 months . after which the SIP installment would get increased again to Rs.4000 ( Rs.3000 + Rs.1000) .and so on till it reaches Rs.6000 at the end of two year .
This product allows you to gradually increase your SIP investment in a phased manner.
This product may help you start off investing in a trickle and let that grow into a deluge
Image: Nagendra kamath
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