SIP Investment: Many people invest in mutual funds or SIP (Mutual Fund And SIP). However, it is also very important to maintain the continuity of investment in both of these. SIP is a systematic investment.
This gives an investor the flexibility to invest in mutual funds of his/her choice. Although often this question must have come in your mind that what will happen if you do not deposit your installment
Their investment is very important to grow their money fast. In such a situation, many people invest their money in mutual funds or SIP (Mutual Fund And SIP). However, it is also very important to maintain the continuity of investment in both of these. SIP is a systematic investment. This gives an investor the flexibility to invest in mutual funds of his/her choice. Although often this question must have come in your mind that what will happen if you do not deposit your installment.
How to deposit SIP installment
You can deposit your SIP installment monthly, quarterly or every six months. Nowadays many people also choose the option of auto debit for depositing the installment. However, for this, you should have the same amount as the installment in your bank account. If you do not have this amount in your account, then you will have to face a lot of problems.
What do experts say
According to experts, if you do not pay the installment of SIP only once or twice, then it will not affect you much. But if you do not deposit your installment for three consecutive times, then the fund firm can also terminate your SIP. ECS rules state that the request for debit should be sent to the fund house at least three months in advance. If you have invested in SIP scheme of any bank then you can be fined. For example, ICICI Bank imposes a fine of Rs 350 for non-payment of installments.
Can delay installment payment
If the amount for SIP is not available in your bank, then you can also delay your installment for some time by informing the bank. You can do this either online or by visiting the branch. Please tell that this process can also take 10-30 days. Also, not all fund houses offer this facility.
