SIP stands for Systematic Investment Plan in which a fixed amount is deducted every month i.e. regularly from one’s saving account in the preferred mutual fund scheme that one has selected. As per one’s convenience, a person can invest in short-term, medium-term, or long-term money making but as a matter of fact, the long-term goals are responsible for creating a higher level of incentives. Then the most crucial step that comes is to select the right mutual fund as per one’s needs and capabilities and then fill out the KYC to complete all the necessary documentation. At last now one can easily start submitting the amount very easily even with the help of an online demat account.