While investing in SIP, some things can be availed according to the need.
Many asset management companies (AMC) give SIP investment the option to pause. This means that you can stop your SIP investment for some time. However, its investors have to request in advance.
- Last Updated:
December 23, 2019, 8:00 AM IST
- Edited by: Puja menon
SIP can be stopped
Many asset management companies (AMC) give SIP investment the option to pause. This means that you can stop your SIP investment for some time. However, its investors have to request in advance. They have to give information that they are trying to stop SIP for a month or 3 months.
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SIP can increase or decrease the amount of investment
If you want, you can reduce or increase your SIP investment according to your need. Many AMCs offer the option of making changes to the SIP. You also have to give instructions for this. For this, you have to submit to your nearest AMC office. In this form, you have to provide information about what was the first amount of SIP investment and whether you want new investment amount.
Also option to cancel SIP
To cancel a SIP instruction, you have to give a request in writing. You will also give this request to AMC. Another option for this is to stop adding money to the registered bank account through which you have given the option of auto debit. Explain that if there is not enough money in the account, then after three to four months, this cycle continues continuously, then AMC will stop your SIP. However, in the meantime, reminders will be kept on you to keep the money in the account.
You have to keep in mind that to make any change in SIP, you have to give a request 30 days in advance. Also, you have to keep in mind that what are the restrictions of your Asset Management Company. Do they provide such options or not.
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First published: December 23, 2019, 4:44 AM IST
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