Systematic investment plans (SIPs) are the go-to mode of investing for most mutual fund investors. In August 2023, the total number of mutual fund SIP accounts stood at a whopping 6.97 cores. On one hand, 35.92 lakh new SIPs were registered, while on the other hand, 19.59 lakh existing SIPs were discontinued (including those with tenure completion).
The number of SIP closures has been moving higher every month for the last few months. In April 2023 (at the start of the financial year), the monthly SIP closures were at 13.21 lakhs.
Let us understand how you can continue your SIPs for a longer period and make the…
