Here are two types of SIP that you can start with, to multiply your money along with saving on tax:
ELSS Schemes: An Equity Linked Savings Scheme (ELSS) is an open-ended equity mutual fund that doesn't just help you save tax, but also gives you an opportunity to grow your money. It qualifies for tax exemptions under section (u/s) 80C of the Indian Income Tax Act.
Debt Funds: A debt fund may invest in short-term or long-term bonds, securitised products, money market instruments or floating rate debt. The minimum tenure for long-term capital gains was extended from one to three years. This means that investors will have to remain invested for at least three years if they want the benefit of lower tax on long-term capital gains. If redeemed within three years, the gains will be added to the person's income, and will be taxed as per the applicable income tax slab.