What is the procedure for applying for SIPs?

SIP is only a facility to enable you to invest a fixed amount on a given date in a mutual fund.

Today, virtually every mutual fund offers a SIP and the SIP is only as good or as bad as the underlying fund.

There is no separate evaluation t be done to choose a SIP. Once you have choosen a fund, you can decide whether you like to invest regularly over a period using this facility.

You will have to make an initial investment for the first installment and also fill up a form for the SIP option. You can invest either by giving post dated cheques or by giving an ECS mandate available in select cities.