Birla Sun Life Mutual fund (BSLMF), a joint venture between Aditya Birla Group and Sun Life Financial, has announced the introduction of internet based systematic investment plan (iSIP).

The company authorities said that iSIP is a mode of transaction facility through which investors can make purchases, renew their SIP and also have the option to cancel it online.

The sources said that this newly launched service will not only allow investors to start their SIP investments online but it will also offer paper less management of SIPs.

Currently, the service is available through Citi, ING and Axis bank.