The Systematic Investment Plan (SIP) is a great periodic investment plan. With SIPs, you can invest a specific fixed amount in a mutual fund scheme. You will have the option to invest monthly, bi-monthly, or fortnightly. Apart from a regular SIP, there are variations like,\r\rIf you decide to increase the invested amount, a Step-up SIP will enable you to do this.\rAlert SIP is a type of SIP that intimates investors when the market is down so that they may invest more.\rIn the case of Perpetual SIP, you don’t have to define an end date. The investment plan will go on till you give the fund house instructions to stop it.\rFlexible SIP allows the investor to change the contribution amount.\rSIP with insurance offers insurance cover to investors of equity funds.\rWith Multi-SIP, you can invest in multiple schemes of the AMC in the form of a portfolio.