The country’s biggest public bank State Bank of India’s Mutual Fund arm ‘SBIMF’ has launched a new ‘Jan Nivesh SIP’ scheme which allows investors to start Systematic Investment Plans (SIP) at just Rs 250 per month. The new Jan Nivesh SIP scheme is aimed to expand financial inclusion among students, new investors, and people with generally low savings or low funds to start investing.
Madhabi Puri Buch, SEBI Chairman spoke on the launch saying that the sachetisation will allow every son and daughter to be able to participate in the industry. She further said that the scheme has been designed to be a long time product that the industry will adopt it.
Jan Nivesh SIP Scheme Overview:
- SBI Jan Nivesh SIP scheme allows investment options of Rs 250 daily, weekly and monthly.
- The program aims to promote financial inclusion across small and new investors from rural and urban areas of the country.
Investments through Jan Nivesh SIP will be in ‘SBI Balanced Advantage Fund’ that offers tax benefits with a balanced risk-reward and offers smart allocation, which keeps shifting between equity and debt according to the market. - The SBIMF official site reads that “this SIP is suitable for investors who are seeking long-term capital appreciation and dynamic asset allocation between equity and equity related instruments including derivatives and fixed income instruments.
- SBI Balanced Advantage Fund is an open-ended dynamic asset allocation fund that was launched in August 2021. According to the SBIMF website, the fund has an AUM of Rs 33305.48 crore as of 31st January 2025 and has provided 11.63% returns since inception. The fund itself requires minimum Rs 500 SIP but allows Rs 250 SIP through Jan Nivesh scheme.
How to start:
Interested investors can start the Jan Nivesh SIP through SBIMF’s official website – https://www.sbimf.com/janniveshsip or through SBI’s mobile banking app YONO. Investors can also start this SIP through fintech platforms and investment brokers such as Paytm, Zerodha, Groww, and PhonePe etc.
Riskometer:
Earlier this year in January, the Securities and Exchange Board of India (SEBI) had released a consultation paper on promoting financial inclusion through sachetisation of investment in mutual fund schemes and to inculcate the habit of systematic saving and facilitate investment of small savings by investors new to the mutual fund space.