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In daily SIP scheme, the investor is allowed to invest in a particular scheme on all market trading days. One can start investing in this SIP with ₹300 per day into few specified mutual fund schemes. These are LIC MF Equity Fund, LIC MF Growth Fund, LIC MF Midcap Fund, LIC MF Infrastructure Fund, LIC MF Index Fund, LIC MF Balanced Fund and LIC MF Monthly Income Plan.
LIC MF Tax Plan has the minimum investment limit of ₹500 per day. For an existing SIP investor, daily SIP will be registered after 10 days from the date of submission of SIP application while it is 30 days for the first time investor.
Investors will have to fill the SIP registration form along with NACH (National Automated Clearing House) form and cancelled cheque, and submit it at LIC Mutual Fund office or to any Official Point of Acceptance of LIC Mutual fund or to the registrar Karvy. For investing online, investor needs to register him/herself on www.licmf.com and choose daily frequency under SIP option.
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