I want to invest in good MUTUAL FUNDS through SIP , any good recomendation?

1st answer good as schwab fine start. MFs not best investment anymore though. ETfs and closed end funds better. Lower costs + closed ends like ADx PEO GAM, etc sell at a discount to asset value which MFs never do. Feel free to contact for more ideas via answers.

OK, first, I am going to admit that I have no idea what SIP stands for. For the record, the best way to invest in anything, is to get an asset management account with Charles Schwab. They are a discount brokerage house, and it takes a minimum of 5000 dollars to open a Schwab One account, and you can then not only invest in any mutual fund you want right from that account, but you can invest in stocks and bonds too. If you have a balance on account, you get 2 percent below prime in interest.

Not only that, you can borrow up to twice your account balance and invest that as well in anything that is performing great. I once invested 20000 dollars in a mutual fund, when I had only 10000, and sold my shares for forty about six months later. You will pay 2 percent above prime for the money you borrow.

Not only that, you get a Visa or MasterCard that you can use to as a credit card, and if you do, it will maximize your float, and be paid out of your account automatically every month. You also have the option of making it a debit card if you want, but, why would you want to spend your money before you have to, when you are making interest on it.

At least that is the way CS use to do it. Some things may have changed. You might want to think about that before you make any investment decisions.

Charles Schwab (Chuck) is a good company, and the service is excellent.

Chuck will stick you for $50 to move your money to someone else however.

Scottrade has a lower minimum investment - I opened an account with a measly $300. Scottrade also has lower fees: $7.00 for a stock trade, as opposed to $12.95 for Chuck, and $12.95 for non-free mutual funds, as opposed to $19.95.

If you like fees, check out Merrill Lynch: there is a fee to invest, a fee to close the account, and even an 'inactivity fee" to do nothing... and there are more.

I too do not have a clue as to what a SIP is.

Your best deal as an American (assuming you are) is a Roth IRA.