Which mutual Fund (SIP) is best for 1-3 Years term of investment?

Three years is too short a timeframe for equity investments to blossom into a good kitty. If you need to definitely withdraw after three years, then it makes sense to invest in one of the two options:

1. If you have a higher risk appetite, consider equity oriented Balanced Funds. These invest in both equity and debt funds and try to balance the returns.
2. If you have lower risk appetite, then park the money in Debt Funds, Liquid funds to be specific.