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A Stock SIP (Systematic Investment Plan) allows you to automatically invest a fixed amount in a stock, ETF, or  at a selected frequency (weekly or monthly). Instead of manually placing buy orders every time, the system executes them for you.

When you set up a SIP, you select the instrument, the investment amount, the frequency (weekly or monthly), and the execution day. You are also required to set up an AutoPay mandate. The SIP amount will be debited via AutoPay on your chosen date.

On every selected execution date:

• Auto-Debit: Your SIP amount is automatically debited from your bank via AutoPay
• Order placement: A market delivery (CNC) buy order is placed during market hours. If your SIP falls on a market holiday, the order will be executed on the next business day
• Shares credit: Once executed, the shares are credited to your demat account as per the standard settlement cycle

Note: Once the mandate is set up, your stock SIP remains active unless you cancel it.