The year 2017 has begun with a lot of cheer for home loan borrowers with home loan interest rates at multi-year lows. Two main reasons to account for this:
- Banks are flush with funds received from depositors due to the demonetisation drive.
- Rising competition among financial institutions. Banks and NBFCs getting into an aggressive home loan interest rate war to win customers.
Thus, with low interest rates, stagnant home prices and the income tax incentives in the Union Budget, the timing can’t be better to get your dream home. But you may ask, what about the down payment you have to pay to buy your dream house.
Invest in SIP to save on downpayment
While you are searching for your dream home, you also need to accumulate money for making the down payment. A SIP investment plan is the ideal way to accumulate the money required for making the down payment. Birla Sun Life Mutual Fund’s Sabse Important Plan platform assists investors in accumulating funds for various financial goals like child education, buying a house or building a fund for making down payment for a house, building a retirement fund, buying a car etc. On this platform you can select your financial goal/s, answer some simple questions and you will be recommended the best SIP plans to help you reach your financial goal.
With the Sabse Important Plan (SIP), accumulating money for your home loan down payment is a simple four step process.
Step 1: Amount required and duration
You need to select when do you need the money and the amount required.
Step 2: Your risk appetite
You need to answer two simple questions on how will you react if the stock market goes down by 10% or if the stock market goes up by 10%.
Step 3: Your age and financials
You need to enter your age, income range and the percentage you save.
Step 4: Recommended portfolio
Based on the information entered in the above three steps, you will be recommended an investment portfolio:
- Monthly SIP amount
- Asset allocation (investment break up in equity and debt)
- Best mutual funds for SIP
- SIP amount to be invested in each mutual fund scheme
The process is as simple as that. While you are searching for your dream house, the down payment fund is being built in the background through top SIP plans recommended by the Sabse Important Plan (SIP) platform.
Benefits of the Sabse Important Plan
- The SIP mutual fund platform recommends mutual fund schemes based on your risk appetite. These funds are managed by professional fund managers, who look after your investments full time.
- SIP investments inculcate the much needed habit of regular disciplined savings and investments.
- Through this platform, you can plan separately for each of your financial goals.
Leave the market fluctuation worries to the Fund Manager; sit back, relax and watch your investments grow over the long term. So if you have a financial goal, don’t look elsewhere. Log on to Birla Sun Life Mutual Fund’s Sabse Important Plan platform now!
Disclaimer: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.