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When will my first auto payment be made towards the SIP?
Your first SIP auto payment depends on two factors:
- The payment mode you’ve selected
- 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 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.
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