Shweta Jain, Founder of Investography, explains that systematic transfer plans (STPs) are like SIPs for individuals who do not have a regular monthly income. STPs allow investors to stagger their investments over a period of time, typically 3 to 12 months, in order to take advantage of rupee cost averaging. To implement an STP, investors first choose an equity scheme and then invest their lump-sum amount in a liquid fund. The money is then systematically transferred from the liquid fund to the equity fund.