BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mutual funds
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Stockbrokers
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Commercial banks
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Post office savings schemes
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Detailed explanation-1: -Systematic Investment Plan (SIP) is an investment plan (methodology) offered by Mutual Funds wherein one could invest a fixed amount in a mutual fund scheme periodically, at fixed intervals – say once a month, instead of making a lump-sum investment. The SIP instalment amount could be as little as ₹500 per month.
Detailed explanation-2: -Systematic Investment Plan (SIP) is a method of disciplined investment in market linked funds offered by fund houses (Mutual Funds), Insurance. Best SIP plans offered by these fund management institutions, have given very high returns to disciplined investors even during volatile market scenarios.
Detailed explanation-3: -A systematic investment plan involves investing a consistent sum of money regularly, and usually into the same security. A SIP generally pulls automatic withdrawals from the funding account and may require extended commitments from the investor. SIPs operate on the principle of dollar-cost averaging.
Detailed explanation-4: -What types of mutual funds are there? Most mutual funds fall into one of four main categories – money market funds, bond funds, stock funds, and target date funds.