When will my first auto payment be made towards the SIP?
Your first SIP auto payment depends on two factors:
Here’s how it works:
From then on, payments will continue on the SIP date you’ve chosen each month.
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 Mode | Set-up Date | SIP Date | First payment | Second payment | Third & following payments |
UPI | 5th of March | 7th of every month | 5th of March | 7th of April | 7th of May onwards |
UPI | 15th of March | 7th of every month | 15th of March | 7th of May | 7th of June onwards |
Netbanking /Debit Card (SIP date within 6 days of setup date) | 5th of March | 7th of every month | 7th of April | 7th of May | 7th of June onwards |
Netbanking /Debit Card (SIP date after 7 days from setup date) | 15th of March | 7th of every month | 7th of April | 7th of May | 7th 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.