There are not 1, 2 but 5 types of your SIP, know the specialty before investing

SIP (Systematic Investment Plan) is considered a famous investment option, through which you can get good returns in the long term through small investments. But do you know that there are not 1, 2 but 5 types of SIP. Yes, these 5 types of SIP have their own characteristics. So now by choosing the right SIP scheme, you can create your investment in a big fund. So then let us know these 5 types of SIP.

Systematic Investment Plan i.e. SIP is becoming the first choice of investments in today's time. People are investing from Rs 1000 to thousands through SIP. Most people now consider it safe and good to invest their money in mutual funds through SIP. By investing regularly in SIP for a long time, you can easily create a strong fund. Do those who create a strong fund through SIP know how many types of SIP are there? Yes, there are 5 types of SIP, so let's know everything about them.

One type of SIP is Regular SIP. In Regular SIP, you have to invest a fixed amount at every fixed time-date. Although the amount invested in Regular SIP remains fixed, this SIP is considered good for investment.

For investors whose income is not fixed, meaning if your income keeps fluctuating, then Flexible SIP is considered the best for such people. In Flexible SIP, you can change the investment from time to time according to your zodiac sign.

You all must have heard about step-up SIP. In this SIP, you have to keep increasing the amount to be invested with time. Generally, step-up SIP has to be increased by 10 percent every year. That is, those who are employed can increase the amount in this SIP as their salary increases.

Investing through Trigger SIP is also considered best for people. Trigger SIP is considered the best for those people. This is best for those who are experts in understanding the ups and downs of the market. In Trigger SIP, investors set triggers for their investment by looking at the stock market. If you do not have knowledge of the market, then stay away from this SIP.

There is also an option of insurance in SIP. Yes, you can also take insurance cover in SIP without any problem. In this type of special SIP, people get the benefits of insurance along with investment (Note: The news is based on general information)