Is it advisable for a newcomer to invest in mutual funds now?

I want to invest in mutual funds. As a beginner, is it advisable to invest Rs 5,000 through monthly SIP for three to five years in the present situation and circumstances due to Covid-19. Please advise.
-Shridhar Iyengar

It is always the right time to invest in mutual funds, even for a newcomer, to achieve your long-term financial goals. However, it is extremely important to choose mutual funds based on your goals, investment horizon, and risk profile. For example, you should choose debt mutual funds to meet your goals that need to be met before five years. For long-term goals that are at least five to seven away, you may choose equity mutual funds that match your risk profile.

A Systematic Investment Plan or SIP is a strategy used to invest regularly, typically in equity mutual funds, without bothering about the prevailing market conditions. As said earlier, you can invest through SIP in an equity mutual fund provided you have an investment horizon of at least five to seven years. It is not a great idea to invest in equity mutual funds if you have a horizon of only three to five years. Equity or stocks can be extremely risky and volatile in the short term. You would be better off in bank deposits and debt mutual funds with such a short horizon.