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Answered on May 12, 2021
SIP is a way of investing in mutual funds. You can give instructions to the bank to deduct and deposit a fixed amount of money from your account, on a specific date every month, to the mutual fund. On the other hand, you can invest lump-sum amount at one time in a mutual fund. SIP have the advantages of:
Averaging out the market fluctuations
Building investor discipline
Power of compounding
Auto debit instructions
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