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Rupee cost averaging is an approach in which you invest a fixed amount of money at regular intervals. This in turn ensures that you buy more Units/shares of an investment when prices are low and less when they are high.

This methodology enables you to invest at any point of time and you don’t have to time the market and ensures that your avg. buying cost remains low and hence gets you better profits. More importantly this makes you a disciplined investor.
This can be used for buying shares as well as mutual funds(SIP)