The LIC Mutual Fund Asset Management Company (AMC) has recently lowered the Daily Systematic Investment Plan (SIP) amount to Rs. 100 and multiples of Re. 1 for certain schemes within the LIC Mutual Fund portfolio. Additionally, LIC MF will now offer a Daily SIP plan within the LIC MF Liquid Fund.
In further updates, the AMC has also adjusted the minimum monthly SIP investment limit to Rs 200 and the minimum quarterly SIP investment limit to Rs 1,000 for specific schemes within LIC Mutual Fund.
The minimum amount step-up facility has been updated to Rs. 100 with subsequent increments of Rs. 1 for all existing SIP schemes, with the exception of LIC MF ELSS Tax Saver and LIC MF Unit-Linked Insurance Plan. These changes will be effective from October 16, 2024. The small ticket SIP, introduced by SEBI, aims to enhance accessibility to mutual fund investments in India.
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| SIP Frequency | Cycle Date | Minimum Amount | Minimum Instalments |
| Daily | All Business Days | Rs. 100 and in multiples of Rs.1 thereafter | 60 |
| Monthly | Any date between(1st to 28th) | Rs. 200 and in multiples of Rs.1 thereafter | 30 |
| Quarterly | Any date between(1st to 28th) | Rs. 1,000 and in multiples of Rs.1 thereafter | 6 |
“We are excited to introduce Rs 100/- daily SIP as part of our initiative to attract more youngsters and working population into MF investments. As per the Periodic Labour Force Survey (PLFS) conducted by the National Statistical Office (NSO) in 2022-2023, the workers account for about 56% of the total population in the country. As per AMFI, the unique investors based on PAN & PEKRN has just crossed 5 crores in Sep-24. The launch of small-ticket SIPs will enable healthy participation of retail investors into mutual funds from smaller cities and towns to further drive financial inclusion across the country. The benefit of India’s stable and consistent economic growth should reach the common man.” said RK Jha, Managing Director & Chief Executive Officer, LIC Mutual Fund.
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The minimum investment amount and frequency of quarterly Systematic Investment Plan (SIP) offered by LIC MF ELSS Tax Saver will be changed to Rs 1,000 with subsequent instalments in multiples of Rs 500, requiring a minimum of six instalments.
Additionally, the minimum amount for utilizing the STEP-UP Facility will be altered to Rs 100 with subsequent increments in multiples of Re 1 starting from October 16.
This notification will be included in the Scheme Information Document (SID) and Key Information Memorandum (KIM) of the aforementioned schemes and the Statement of Additional Information (SAI) of LIC Mutual Fund as modified periodically. All other terms and conditions of the schemes and SAI of LIC Mutual Fund will remain unaltered.
