📅 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 APPROVED
🔍 Example:
If you start a SIP of ₹5,000 with the SIP date set as the 10th of every month,
then:
₹5,000 will be auto-debited on the 10th of each month.
Units will be allocated based on the NAV of that day (if payment is successful
before the cut-off time, usually 2.30 PM).
If the SIP date falls on a holiday, the NAV of the next working day will be
applied.
📆 How to Choose a SIP Date?
Most mutual fund houses allow you to choose multiple SIP dates like:
1st, 5th, 10th, 15th, 20th, 25th, 28th, 30th, etc.
Things to consider:
Select a date after your salary credit for smooth transactions.
You can also set multiple SIPs on different dates to spread market timing risk.
✅ Key Points:
Missing a SIP due to insufficient funds might lead to a failed transaction, need
to pay ESC charges as penalties are imposed.
The SIP continues until the end date or until you cancel it manually.