"Mutual funds" concept was invented by the brains of Wall Street. As this type of investments worked well in the Wall Street, a lot of financial companies formed their Asset Management Companies in India and launched a lot of mutual fund schemes in India.

Some of the Indian companies that have their asset management companies in India are:

• ABN Amro
• Birla Sunlife
• Bank of Baroda
• HSBC
• HDFC
• ING Vysya
• IDFC
• ICICI Prudential
• Sahara
• State Bank of India
• Tata

Some of the Indian companies launched "Systematic Investment Plans" to attract more retail investors and low income persons. These SIP Plans are performing well and generating good returns for the investors. Some of the plans which could be recommended for investing are listed below. You have to consult a certified financial expert before investing in any of these schemes.

• SBI Magnum Sector Funds Umbrella - Contra Fund
• SBI Magnum Sector Funds Umbrella - Emerging Fund
• Reliance Equity Fund
• Franklin Templeton Prima Fund
• Religare Tax Plan Fund
• Fidelity Tax Advantage Fund
• Sahara Tax Gain - Growth

There are many advantages in investing in these SIP Plans. The minimum amount required to invest in these schemes is Rs 500. There are some schemes where you can invest a minimum amount of Rs 100. There are lot of payment options for the investors. You can give post dated cheques for investing or you can apply for SIP auto debit facility. You have to sign a bank authorization form if you want to apply for SIP auto debit facility.

Next Step: Find the best SIP plans and Start Investing.