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In collaboration with State Bank of India (SBI), SBI Mutual Fund on Monday officially unveiled the JanNivesh SIP, a new initiative designed to make mutual fund investments more accessible to a wide range of investors across India.
JanNivesh SIP offers flexible SIP options starting at just Rs 250, with daily, weekly, and monthly investment plans. This low entry threshold makes it easier for individuals to start their investment journey.
The facility will be available on the SBI YONO platform and other fintech platforms like Paytm, Groww and Zerodha. This will ensure that investors can easily access and manage their investments through familiar digital interfaces.
JanNivesh SIP is tailored to meet the needs of first-time investors, small savers, and individuals from rural, semi-urban, and urban regions. The initiative seeks to provide an easy and affordable entry point into the world of mutual funds, empowering individuals from all walks of life to take charge of their financial futures.
Target Investors:
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First-Time Investors: JanNivesh SIP aims to attract first-time investors from rural, semi-urban, and urban regions, providing them with an accessible entry point into the world of mutual funds.
Urban Investors: Targets urban investors who may have limited access to financial advisors but are comfortable using digital platforms for their financial needs.
Unorganized Sector Workers: Self-employed individuals and small savers in the unorganized sector can benefit from the simplicity and flexibility of JanNivesh SIP. This initiative makes it easier for them to invest and create wealth to achieve their financial goals.
"JanNivesh SIP is a pivotal step towards democratizing wealth creation and promoting financial inclusion in India. By lowering entry barriers and leveraging digital platforms, we aim to attract first-time investors, small savers, and those in the unorganized sector, with SIP starting at just Rs. 250," said Nand Kishore, MD & CEO of SBI Mutual Fund
On January 22, market regulator Sebi had released a consultation paper to encourage distributors to promote the low-cost SIP.
The paper suggested a Rs 500 incentive for educating first-time investors in mutual funds and supporting sustainable long-term investments.
SBI Bank said it would waive transaction charges for bank transfers related to these micro-SIPs.
Currently, this will be offered only for the SBI Balanced Advantage Fund. The facility will be available on SBI YONO as well as other digital platforms like Paytm, Groww and Zerodha.
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