What is SIP date?

What is SIP date?

The date of the SIP is the date on which each month the clients investments will be processed. When client does an SIP with 5paisa amount is debited from their bank account 1 business day prior to the SIP Date.

For Non First order today SIPs, the first installment / Start date of the SIP depends on the status of approval of Auto Pay. If Auto Pay  is approved at the time of placing orders, the first installment will be on the first SIP date after a 5 day gap.

If SIP is placed with Auto Pay  that is not approved from the bank yet, then the first installment date will be the first date of SIP after a minimum 15 day gap

For ledger based SIPs the first installment can be on the first SIP date available after a gap of 3 days.

Note: You cannot change the date of the existing SIP but you can cancel the existing SIP and place another order with the date you want.

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