When will my first auto payment be made towards the SIP?

Your first SIP auto payment depends on two factors:

  1. The payment mode you’ve selected
  2. The SIP date you’ve chosen

Here’s how it works:

  • If you’ve selected UPI as the payment mode:
    • Your first payment will be deducted on the same day you set up the SIP.
    • Your second payment will be made on the next available SIP date that is at least 30 days after the set-up date. However, if the 30-day criteria is not met, the SIP gets deducted in the subsequent month.

From then on, payments will continue on the SIP date you’ve chosen each month.

  • If you’ve selected Debit Card or Net banking as the payment mode, your first payment will depend on how close your SIP date is to the set-up date:
    • If your SIP date is within 6 days of the set-up date, your first payment will be made next month.
    • If your SIP date is after 7 days from the set-up date, your first payment will be made this month (on your selected SIP date).

For example, if you’ve set up 4 different SIPs on different dates and payment methods, here’s how the payment schedule will look: 

Payment  ModeSet-up DateSIP DateFirst paymentSecond paymentThird & following payments
UPI5th of March7th of every month5th of March7th of April7th of May onwards 
UPI15th of March7th of every month15th of March7th of May7th of June onwards 
Netbanking /Debit Card (SIP date within 6 days of setup date)5th of March7th of every month7th of April7th of May7th of June onwards 
Netbanking /Debit Card (SIP date after 7 days from setup date)15th of March7th of every month7th of April7th of May7th of June onwards 

The money for your SIP will be deducted from your account on the scheduled investment date, even if it falls on a weekend or a bank holiday.