Birla Sun Life Mutual fund (BSLMF) on Tuesday said it has launched internet-based systematic investment plan or iSIP. The internet-based investment route is a unique and convenient mode of transaction facility that will enable investors to start their systematic investment plan (SIP) investments online.

Investors can make purchases, renew their SIP and also have the option to cancel it online. The service is, at present available through Citi, ING and Axis banks. Going forward, more banks would be added by BSLMF, a company statement said.

"There has been increased interest among investors to invest through the systematic investment route. We have witnessed a 250 per cent jump in the total number of SIPs registered with Birla Sun Life Mutual Fund in the previous financial year. This year, we want to reach out to even more SIP investors," Birla Sun Life Mutual Fund chief

executive officer, Anil Kumar said.