Are the funds for SIP deducted from the bank account?

Are the funds for SIP deducted from the bank account?

Yes, the funds for a Systematic Investment Plan (SIP) are deducted from the registered bank account. In case you do not have sufficient funds in your bank account, the SIP gets cancelled for that month.


    • Related Articles

    • What is the Procedure for Adding a Bank Account?

      To add a bank account to your 5Paisa account, follow the detailed instructions for both the mobile app and the website. Ensure you have the necessary documents ready for a smooth process. Adding a Bank Account Through the 5Paisa App 1. Login: Open ...
    • How to Withdraw Funds from Trading Account to Bank Account?

      For the Website Platform: Access the login portal at https://login.5paisa.com/ and authenticate your credentials to gain access to your account. Proceed to the "Fund Ledger" in the Hamburger Menu Section of the website or Click on Margin on the ...
    • What is SIP date?

      ? What is a SIP Date? The SIP Date (Systematic Investment Plan Date) is the specific day of the month on which your mutual fund SIP amount is automatically debited from your bank account and invested in the chosen mutual fund scheme after AutoPay is ...
    • Can funds be withdrawn to the secondary bank account?

      Please note the following important guideline regarding fund withdrawals from your trading account: Withdrawals are permitted only to your registered primary bank account. At present, withdrawals to secondary bank accounts are not facilitated. In the ...
    • Can funds be added from the secondary bank account?

      Yes, funds can be added to your 5paisa account from a secondary bank account. Here are the details to ensure a smooth process: Bank Selection Consistency: If you are using UPI for the transfer, make sure that the bank selected during the initiation ...