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FAQs
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What is a SIP?
An SIP is a disciplined investment approach that allows you to invest a fixed regular amount of money at monthly intervals in a mutual fund scheme.
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How does SIP work?
You invest a fixed amount of money at regular intervals (e.g., monthly) in a mutual fund scheme. The amount is invested in the scheme, and units are allocated based on the net asset value (NAV).
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What are the benefits of SIP?
Benefits include: * Disciplined investing * Rupee cost averaging * Compounding * Flexibility * Convenience
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How to start an SIP?
* Visiting ambooli.com or by contacting their customer care service. * Completing the mandatory KYC procedure * Providing necessary documents (e.g., PAN, Aadhaar) * Setting up a bank mandate
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Can I cancel or pause my SIP?
Yes, you can cancel or pause your SIP by notifying ambooli.com
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How to change my SIP amount or frequency?
You can modify your SIP amount or frequency by contacting ambooli.com
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What are the tax implications of SIP?
Tax implications vary based on the type of mutual fund scheme. Consult ambooli.com for specific guidance.
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Can I invest in multiple SIPs?
Yes, you can invest in any number of SIPs across different mutual fund schemes.
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How to track my SIP investments?
You can track your SIP investments through the MF Central integrated mobile app provided by ambooli.com or by contacting their customer service. Here you can track all mutual fund investments made across any fund houses / platforms.
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What are the common mistakes to avoid while investing in SIP?
Common mistakes to avoid include: * Not having a clear investment goal * Not assessing risk tolerance * Not monitoring investments regularly * Not maintaining a long-term perspective Always remember to consult a registered mutual fund distributor for personalized advice on investing in SIPs.
