How Can NRIs Invest in SIP Plans in India?

Just like Indian residents, Non-Resident Indians (NRIs), Overseas Citizen of India (OCIs), and Persons of Indian Origin (PIOs) can invest in sip plans in India . Systematic Investment Plan or SIP helps you to make mutual fund investment in an affordable way. If you’re investing through SIP, you are offered two options – repatriable and non-repatriable.For mutual fund investments based on a repatriable basis, it is mandatory to open an NRE or FCNR bank account. On the other hand, an NRO or NRE/FCNR bank accounts are required if you do it through a non-repatriable basis.

As an NRI investor, you can start investing in a SIP in the following manner:

• Select a reputed Mutual Fund Company or an Asset Management Company (AMC) and choose the best mutual fund SIP plan from a range of schemes that are on offer.
• You have the flexibility to decide the SIP payment; it can be either monthly or quarterly.
• To start the mutual fund investment through SIP, you should have an NRI bank account in India from where the SIP amount is deducted.
• For the SIP amount, you can also give a Direct Debit Mandate or Electronic Clearing Service mandate. Apart from this, you also have the option to issue post-dated cheques.
• Once you start an investment, you receive monthly or quarterly statements from AMC on your email address.

To sum up, SIP is a great way of growing wealth slow and steadily. Although the process of investing in SIP plans in India may initially have some hassles, it will definitely fetch you great returns in the long run.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.