It is an excellent way to create a long-term savings habit through SIP. It helps in creating a large corpus for the future Financial goals. In a SIP, a fixed amount is invested monthly in a fund on a specific date by the investor.
If you invest just Rs 10,000 per month in an equity fund through SIP for 30 years, you can accumulate a corpus of Rs 3.53 crore. The power of compounding grows wealth and makes you rich.