Reverse SIP is a method of estimating how much money you need to start saving today to meet your future goals such as marriage, child education or retirement.
Use of Reverse SIP Calculator is to calculate an SIP amount required to meet the future goals.
Let us understand through an example, Suppose Ram would be requiring Rs. 30 lacs, 5-years from now. So what should be the SIP amount per month he should be investing in order to achieve his goal. He can find his answer only if he uses Reverse SIP Calculator.
If an individual who has never started an SIP then for them they need to first get their KYC done. Any mutual fund house can help you in the process of KYC. You just need to go to them, for example ICICI AMC, Axis Mutual Fund etc...
Once the KYC is done, then the investor can start their SIP in whichever fund he/she wants. The SIP can be started online through AMC website as well as through physical form by visiting the AMC office.
No, not at all. Apart from equity funds, SIP can be done in any open ended schemes such as Debt Funds and hybrid schemes as well.