SIP
What are the different SIP statuses?
In the context of Mutual Funds and SIPs, the common status or terms associated with SIP transactions are:
Active: This status indicates that the SIP is currently ongoing, and the investor's contributions are being regularly invested according to the predetermined schedule.
Paused/ Suspended: Some Mutual Fund platforms allow investors to pause or suspend their SIP temporarily. This means, for a specified period, the scheduled SIP contributions are halted but the investor retains ownership of the existing units.
Completed/ Terminated: This status indicates that the SIP period has concluded and the investor has completed the planned series of contributions. Alternatively, it may indicate that the investor has chosen to terminate the SIP before its originally planned tenure.
Failed/ Rejected: If there is an issue with processing a SIP transaction such as insufficient funds or incorrect details, the status may be marked as failed or rejected.
Pending/ Processing: This status may be used when a SIP transaction is in the process of being executed, but the final outcome is not yet determined.
When will my investment appear in my portfolio?
If you initiate a transaction (buy or sell) prior to the specified cut-off time on a business day, you will receive the units in your account within two working days. Transactions initiated after 3:00 PM will be processed on the following business day. Please note the cut-off timing for different funds:
- Equity, Hybrid and Debt Funds – 3:00 PM (Monday – Friday)
- Liquid Funds – 1:30 PM (Monday – Friday)
What will happen if I do not have sufficient balance in my bank account on SIP due date?
If you happen to miss a payment for your SIP, there is no need for immediate concern. Your SIP request will be initiated again. However, if you miss two consecutive SIP payments, it could result in the termination of your SIP. It's important to be aware that your bank might impose charges for low balance incidence. It's advisable to stay informed about any associated fees with your linked bank.
Can I change the SIP date or frequency?
No, you cannot modify SIP date or frequency for an existing SIP. To do the same you need to cancel the existing SIP and then place a new SIP order with the desired date and frequency.
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