JanNivesh SIP: Paytm joins hands with SBI MF for Rs 250 SIP; check how to set up account 

Paytm, in a strategic partnership with SBI Mutual Fund, has launched the JanNivesh Systematic Investment Plan (SIP) initiative, aimed at enhancing financial accessibility for a wider audience. This collaboration introduces an investment option where individuals can start their SIP with a minimum of Rs 250. This initiative is designed to democratise investment opportunities, making wealth-building accessible to various segments of society. The focus is on promoting financial inclusion by easing the process of investing in mutual funds through systematic contributions. 

The JanNivesh SIP offers several appealing features designed to attract new investors. It allows investments to be made with as little as Rs 250 per installment, offering flexibility with daily, weekly, or monthly investment options. Additionally, the plan is automated through UPI Autopay, ensuring seamless transactions without manual intervention. The investment scheme aims to help individuals grow their wealth over time by leveraging the power of compounding. 

As stated by SBI Mutual Fund, "When you invest regularly through SIP and invest for the long term, the benefits are magnified by the compounding effect. Compounding effect ensures that you earn returns not only on your principal amount (actual investment) but also on the gains on the principal amount i.e. your money grows over time as the money you invest earns returns. And the returns also earn returns." 

Setting up a JanNivesh SIP account

Setting up a JanNivesh SIP account through the Paytm app is straightforward. Users need to access the 'Do More with Paytm' section, select the JanNivesh SIP option, and choose their desired investment frequency. The process requires entering a starting investment amount, from as low as Rs 250, and providing PAN details. Completing the SEBI-mandated KYC by submitting necessary documents is essential before setting up UPI Autopay for automatic payments. 

Here are the steps:

To begin their SIP through the Paytm app, users can follow these steps:

Open the Paytm app and tap on the JanNivesh SIP option in the 'Do More with Paytm' section.
Choose the investment frequency: daily, weekly, or monthly.
Enter the investment amount, with a minimum starting value of ₹250.
Input your PAN details when prompted.
Fulfill SEBI-mandated KYC requirements by submitting the necessary documents.
Review the SIP details and establish UPI Autopay for convenient automatic payments.
Once the mandate is approved, the SIP will be successfully registered.

Vijay Shekhar Sharma, Founder & CEO of Paytm, remarked: "The mutual funds market currently has over 100 million investors, and we are expanding this to 300-400 million mutual fund investors. This initiative, with its simple and low-investment amount SIP options, allows millions of Indians to start investing and contribute to the nation’s economic growth." The emphasis on low-entry investment models is designed to engage a larger segment of the population, enhancing their participation in the economic growth of the country. 

The introduction of JanNivesh SIP is a significant development in the financial sector, providing an opportunity for individuals, especially those previously excluded, to partake in systematic investments. By simplifying access to mutual funds and offering flexible and low-cost investment options, this initiative aims to reshape the landscape of mutual fund investments in India. In doing so, it promises to promote a culture of systematic savings and investments, contributing to broader economic growth and financial literacy.