SBI Mutual Fund unveils a Rs 250 SIP

Mumbai: SBI Mutual Fund, along with parent State Bank of India, has launched JanNivesh SIP, a scheme aimed at making mutual funds more accessible. JanNivesh SIP, a flexible SIP option that starts with ₹250 has daily, weekly and monthly investment plans. It is designed to enable first-time investors and small savers from rural, semi-urban, and urban regions to invest in mutual fund schemes. The facility will be initially allowed in SBI Balanced Advantage Fund, which invests in a mix of equity and debt based on the fund managers' view.

The facility will be available digitally on the SBI Yono platform and other fintech platforms like Paytm, Groww and Zerodha. SBI has announced it would waive transaction charges for bank transfers related to micro-SIPs.