Top 10 Best Mutual Funds for SIP to invest in 2024

Introduction to Top 10 Best Mutual Funds for SIP to invest in 2024


Nifty50 index generated a 20% return in the last one year. On the other hand, high-risk indexes like the midcap index or smallcap index generated 44% and 48% returns, respectively. If you are an investor looking for a diversified portfolio, investing in a combination of large-cap, midcap, and smallcap mutual funds can always help you balance your portfolio. If you are looking for a diversified portfolio of the Top 10 Best Mutual Funds for SIP to invest in 2024, this article is for you.

What are SIP Mutual Funds?


Skip this section if you are already familiar with SIP mutual funds.

Mutual Funds pool money from investors and invest in equity or debt or both, depending on the objectives of the scheme.

SIP, also known as Systematic Investment Plan, is a method of investing in mutual funds with a fixed amount at fixed intervals, as per the choice of the investor. Investors can invest in SIP with as little as Rs 100 per month. The most preferred interval for SIP is monthly, while some investors do it quarterly too.

Top 10 Best Mutual Funds for SIP to invest in 2024

How did we filter these Best Mutual Funds for SIP to invest in 2024?


Like every year, even this year, we have used key criteria to filter the best SIP mutual funds to invest in 2024.

  • Mutual Funds that delivered the highest returns in the last 5-10 years.
  • Mutual Funds that generated the highest SIP returns.
  • Funds that have the highest rolling returns.
  • Considered only direct plans in mutual funds while assessing the returns.
  • AUM of the funds > Rs 100 crores.

Top 10 Best Mutual Funds for SIP to invest in 2024


Here is the list of the best mutual funds to invest in 2024 for SIP, along with their annualized returns in the last 1 to 10 years. Like every year, we have selected large-cap, mid-cap, small-cap, hybrid, and international funds as part of the top 10 mutual fund portfolios for 2024.

Category Mutual Fund Name 1 Yr 3 Yrs 5 Yrs 10 Yrs
Index / Largecap UTI Nifty Index Fund 20.3% 16.7% 15.8% 14.0%
Index / Largecap UTI Nifty Next 50 Index Fund 26.5% 18.6% 14.3% NA
Index / Largecap Nippon India Largecap Fund 32.9% 26.0% 18.0% 18.1%
Index / Largecap Canara Robeco Bluechip Equity Fund 23.1% 17.2% 18.6% 16.5%
Midcap / Smallcap Quant Mid Cap Fund 37.9% 36.0% 29.0% 20.0%
Midcap / Smallcap SBI Small Cap Fund 26.9% 27.4% 24.6% 28.1%
Flexicap Parag Parikh Flexi Cap fund 37.9% 24.2% 23.9% 20.2%
Flexicap PGIM India Flexi Cap Fund 21.1% 19.4% 21.4% NA
Hybrid ICICI Prudential Equity & Debt Fund 28.6% 27.3% 20.0% 18.5%
International Motilal Oswal Nasdaq 100 FoF 54.8% 13.2% 25.1% NA

Top 10 Mutual Funds for SIP to Invest in 2024 – SIP Returns


Here is the list of the top mutual funds for 2024 and their SIP returns in the last 3 to 10 years.

Category Mutual Fund Name 3 Yrs 5 Yrs 10 Yrs
Index / Largecap UTI Nifty Index Fund 17.2% 18.5% 14.7%
Index / Largecap UTI Nifty Next 50 Index Fund 19.6% 19.2% NA
Index / Largecap Nippon India Largecap Fund 26.0% 24.3% 17.6%
Index / Largecap Canara Robeco Bluechip Equity Fund 17.5% 19.7% 16.5%
Midcap / Smallcap Quant Mid Cap Fund 33.8% 36.3% 23.3%
Midcap / Smallcap SBI Small Cap Fund 23.5% 28.3% 23.3%
Flexicap Parag Parikh Flexi Cap fund 22.7% 25.4% 20.3%
Flexicap PGIM India Flexi Cap Fund 15.8% 22.2% NA
Hybrid ICICI Prudential Equity & Debt Fund 24.4% 24.6% 18.3%
International Motilal Oswal Nasdaq 100 FoF 18.1% 21.0% NA

FAQs on Top 10 Best Mutual Funds for SIP to invest in 2024


Best Mutual Funds to Invest in 2024 for long-term


Investors should always align their mutual fund portfolios with their financial goals and the tenure of their investment. If you have long-term goals over a 10-year time frame, investing in large-cap mutual funds could be the best choice. If you are a high-risk taker, adding some mid-cap or small-cap mutual funds can provide superior returns to your overall portfolio in the long term.

Check our 5 Mutual Funds with Highest SIP returns in the last 20 years article too.

Which mutual fund has the best 10-year return?


Nippon India Small Cap Mutual Fund has generated a 28.8% annualized return in the last 10 years, which is the highest among the mutual fund category.

Even when looking at the best 10-year returns from an SIP perspective, Nippon India Small Cap Mutual Fund has generated a 26.6% SIP return, which is the highest among all the mutual fund schemes.

You can check 5 Mutual Funds with Highest Returns in the last 10 years article too.

Best mutual funds next 10 years


If you are looking for the best SIP to invest in for 10 years in India, you need to align your financial goals and consider funds based on how long you can invest in them. If your goal is over 10 years, investing in the top 10 funds indicated above can be one of the choices

Which mutual fund has highest return in last 5 years?


Quant Small Cap Fund generated the highest annualized returns of 33.7% in the last 5 years.

Even from an SIP perspective, Quant Small Cap Fund generated 46.5% SIP returns in the last 5 years, which is the highest among equity funds.

Which SIP gives 30% returns?


SIP in mutual funds can help investors invest in a disciplined way and does not guarantee any specific returns.

Investors looking for very high returns can take high risks and invest in midcap and smallcap mutual funds.

Historical performance indicates that midcap and smallcap funds generated between 17% to 26% SIP returns in the last 10 years, 22% to 46% SIP returns in the last 5 years, and 20% to 40% SIP returns in the last 3 years. Best High Return Mutual Funds article can provide further guidance too.

Best SIP to invest for 3 years


If you are looking for the best SIP mutual fund for 3 years, you can consider medium-duration debt funds. Historically, these funds have generated 7% to 8% annualized returns. However, such returns are in line with bank FD rates, hence these may not be attractive investment options for investors.

Which is the Best SIP to invest for 5 years?


If you are thinking about which mutual fund is the best for the next 5 years, you can consider large-cap funds. Historically, large-cap funds have shown stable performance in the medium term to long term of 5+ years.

How to make 1 crore in 5 years in mutual funds?


Do you know that even with Rs 5,000 per month SIP, you can make 1 Crore wealth?

If you want to make one crore rupees in 5 years through mutual funds, you can adopt any of the following strategies:

  • SIP of Rs 122,000 per month can fetch 1 Crore in 5 years, assuming 12% annualized returns. An SIP value of Rs 112,000 is good enough if a 15% return is assumed.
  • SIP of Rs 102,000 per month can fetch 1 Crore in 5 years, assuming 12% annualized returns with a 10% increase in SIP every year. An SIP value of Rs 94,000 is good enough if a 15% return is assumed in such a case.
  • In the case of a lump sum, one can invest Rs 57 Lakhs, and this can make 1 Crore in 5 years with a 15% annualized return. A lump sum of Rs 50 Lakhs is good enough if a 15% return is assumed in such a case.
Suresh KP

27 comments

  1. Hi Sir,
    I’m 30 years old government employee, earing 30k per month. I have selected a mutual fund portfolio to invest kindly check and let me know whether it’s a good option or do i have to make some changes?
    1.Nippon India Large Cap Fund
    2.Parag Parikh Flexi Cap Fund
    3.Quant ELSS Tax Saver Fund
    4.Motilal Oswal Mid Cap Fund
    5.Axis Small Cap Fund
    It would be really helpful if you give me some suggestions and kindly let me know how much should I invest in each fund my investment budget is around 8k oer month.

    1. These are good funds, you can continue to invest. However since it contains midcap and smallcap, these are high risk and you should hold for medium to long term to get high returns

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