LIC Mutual Fund Lowers Daily SIP Limit to Rs. 100 for Selected Schemes
LIC Mutual Fund has lowered the daily Systematic Investment Plan (SIP) minimum to Rs. 100, with the following investments allowed in multiples of Re 1 for select schemes. Also, the fund house has launched a daily SIP option for the LIC MF Liquid Fund, effective from October 16.
The Asset Management Company (AMC) has reduced the minimum SIP investment limits for selected schemes of LIC Mutual Fund. The new limits are Rs. 200 for monthly SIPs and Rs. 1000 for quarterly SIPs. The details are as follows:
| SIP Frequency | Cycle Date | Minimum Amount | Minimum Instalments |
| Daily | All Business Days | ₹100 and in multiples of ₹1 thereafter | 60 |
| Monthly | Any date between (1st to 28th) | ₹200 and in multiples of ₹1 thereafter | 30 |
| Quarterly | Any date between (1st to 28th) | ₹1,000 and in multiples of ₹1 thereafter | 6 |
The fund house notified its unitholders of these changes through a notice-cum-addendum.
The mutual fund house stated that these reductions apply to all existing schemes offering SIPs, except for LIC MF ELSS Tax Saver and LIC MF Unit-Linked Insurance Plan. This initiative aligns with the current announcement by the Securities and Exchange Board of India (SEBI) to introduce small-ticket SIPs, aimed at improving access to mutual fund investments across the country.
RK Jha, Managing Director & Chief Executive Officer of LIC Mutual Fund, commented, “The introduction of small-ticket SIPs will encourage greater participation from retail investors, especially in smaller cities and towns, thereby promoting financial inclusion across the country.”
The minimum amount and minimum instalments for the quarterly frequency SIP under LIC MF ELSS Tax Saver will be revised to Rs 1,000, with subsequent investments in multiples of Rs 500 and a minimum of six instalments required.
Additionally, the notice highlighted that the minimum amount for availing the STEP-UP Facility will be revised to Rs 100, with increments in multiples of Re 1, effective from October 16.
