Simply give us post-dated cheques or opt for an Auto Debit from your bank account for an amount of your choice (minimum of Rs. 500 and in multiples of Rs. 100 thereof*). You can invest for a minimum of six months, or for as long as you want. Because it's systematic, a SIP helps you plan for your long-term goals along with the short-term ones. The dates currently available for SIPs are the 1st, 7th, 10th, 20th and the 25th of a month.

Systematic Investment Plan (SIP) is a smart financial planning tool that helps you to create wealth, by investing small sums of money every month, over a period of time. Investing at an early stage of life lets you enjoy the benefits of two powerful strategies, rupee cost averaging and the power of compounding.

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There is nothing like SIP account. It is type of ordering generally in Mutual funds.

You make decision in which fund you want to start SIP. Just go to order menu and select.

You need to have bank account or trading account where the facility is provided.

You can go to fund houses or Mutual fund agents with cheques and start SIP

It is just a recurring account for MFs

I usually use a knife and tear open the seal. You can probably rip it open with your hands, or use scissors. its up to you