Share Certificate(only for Maharastra), Maintenance Bill, Electricity Bill, property tax receipt.

Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/Piped Gas Bill or copy of Passport/ Driving License/Aadhar Card.

Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card.

Loan Application: Completed Loan Application form duly filled with 3 Passport size photographs.

Eliminates excess withdrawals, as the SWP is predetermined and capped as a multiple of SIP instalments.List of papers/ documents applicable to all applicants:.

Investors can pick any scheme for SIP and SWP on the basis of their risk tolerance levels and financial goals.

Provides regular cashflows at the end of the SIP tenure through SWP.

Assists in disciplined investing through SIPs.

Thus suitable for long-term goals that require regular cash flows.

Helps in creating long-term wealth for financial independence.

The following are the key benefits of the Mitra SIP Scheme: Therefore, the SBI Mitra SIP scheme helps save regularly and systematically withdraw at the end of the SIP tenure. Thus, Ms Sandhya can withdraw a maximum of INR 15,000 per month. The maximum amount of SWP per month is a multiple of SIP. Here, Ms Sandhya will be investing a total of INR 12,00,000, and at the end of the SIP tenure (10 years), her SWP will start. She expects a return of 10% from her SIP investments. Ms Sandhya invests INR 10,000 every month in the SBI Large Cap fund for a tenure of 10 years. Let’s understand how the SBI Mitra SIP scheme works with the help of an example.

However, it is restricted to the multiples mentioned by the scheme. Note: It is important to note that SBI Mitra SIP doesn’t give assurance of the fund or guarantee of withdrawal through SWP. The SWP will be triggered post the SIP period. You will simultaneously register for SWP in the same scheme or any other SBI mutual fund. Step3: The maximum monthly SWP will be in multiples of SIP instalments.For SBI Mitra, the SIP must be for 8, 10, 12, or 15 years.

Step1: Choose an SBI fund (growth option) and monthly SIP amount.SBI Mitra is a simple investment tool that combines SIP and SWP in one investment. SBI Mitra combines the benefits of both worlds and creates a comprehensive financial solution for investors. On the other hand, SWP helps set up systematic cashflows through automated withdrawals. SIP mode of investment helps in achieving rupee cost averaging by way of disciplined investments.

Simply put, it is a combination of a Systematic Investment Plan (SIP) and a Systematic Withdrawal Plan (SWP). SBI Mitra SIP is a new investment option that offers a combination of wealth creation and helps reap the investment benefits systematically.

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