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Various types of Mutual Funds exist to cater to different needs of different people. Largely, they are of three types.Equity or Growth Funds,Income or Bond or Fixed Income Funds,Hybrid Funds.
SIP is a vehicle or approach to invest a fixed amount in any fund or scheme at regular intervals. By investing across market phases, whether bullish or bearish, this approach ensures that the cost of investment averages out over a period of time