Approaching mutual funds (MFs) through the Systematic Investment Plan (SIP) is considered a disciplined way of investing. It helps in long-term wealth creation while allowing users to invest steadily with a small sum. There are a few tips that can be considered in order to maximize returns from SIP.

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According to experts, increasing SIP installments from time to time means the returns will be higher.

(Also read: Looking to withdraw money from mutual fund SIP? Here are key things to know)

"With a rise in income, lifestyle also improves substantially. Logically, savings and investments should also increase over time. By increasing SIP installments every year with an increase in salary, one can accumulate a much larger corpus," say experts.

Also, when markets are down, one should always try to augment the SIP quantum.

“This way, the cost of acquiring great companies will be cheap and the returns will be maximized,” suggests Rachit Chawla, Partner, Risers Accelerator.

Terence Lucien, VP & Head of Mutual Funds, PhonePe explains this with an example.

"If one had started a monthly SIP in Nifty index in January 2006 and continued for 3 years, the annualised return at the end of December 2008 would have been -15.85 percent. But if one had continued with SIP for another 2 years, by the end of 2010, the annualised return would have jumped to 16.07 percent,” he adds.

Naveen Kukreja, CEO and Co-Founder, Paisabazaar further explains, "Those having investible surpluses should always try to top up their equity mutual fund SIPs through lumpsum investments as per their asset allocation strategy.."

These top-up, he adds, should be done in a staggered manner to take full advantage in case there are further corrections.

(Also read: How to open a mutual fund SIP online)

The amount of investment in SIP can be altered through step-up SIP or alter SIP.

Step-up SIPs allow investors to increase the amount during their tenure.

For instance, if Rahul is running a Rs 5,000 SIP in a particular fund, he can set it up so that the SIP amount increases by Rs 2,000 every year. This way, the SIP becomes one of Rs 7,000 in the second year, Rs 9,000 in the third year, and so on.

An alert SIP, on the other hand, sends an alert to the investor to buy more when the markets are down.