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What happens during the first SIP installment?
The first SIP installment is executed immediately after successful AutoPay mandate setup. Here’s how it works post the first installment:
- First payment is collected during mandate setup (UPI Mandate authorization).
- First order is placed after successful mandate setup.
- If the first order fails, the SIP remains active.
- Your order can fail due to various reasons, which will be visible in the Order Details and SIP section.
- Your fund balance is not used for the first installment; the debit happens via the funds added from the UPI mandate.
Important: If it is known in advance that the first order will fail due to systems/ regulatory validations, SIP setup may fail along with mandate setup. Please set up the SIP after the validations are corrected.
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