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.

    • Related Articles

    • How to Start SIP for Smallcases?

      For a step by step guide on setting up SIP, refer to the instructions below: Start SIP Check the SIP box while buying the smallcase OR From the Investments tab, click on the smallcase you want to setup SIP for and select Start SIP from More Actions ...
    • How can I stop my SIP?

      You can stop SIP using the following steps: Go to MF order book >> Click on the SIP section >> Click on the scheme you wish to stop >> Click on Stop SIP >> Choose a reason and click on stop SIP   Note: Stop SIP does not mean that you will get your ...
    • How can I start an SIP and can I shift my existing SIPs to 5paisa?

      Investment in SIP can be done via below platforms:  From 5Paisa Mobile App: Start an SIP by choosing schemes from our categorized baskets: Select a scheme >> Click on start SIP >> Enter amount and SIP Date >> Select SIP Period >> Proceed to Pay You ...
    • SIP for small cases

      A Systematic Investment Plan is one where you can invest a fixed amount of money into your smallcase at specified time intervals. The SIP feature is aimed at aiding you in developing a disciplined investment habit and to subdue the impact of market ...
    • What is the difference between Mutual Fund and SIP?

      Mutual Funds are investment instruments that collect investors money and invest in various securities in order to get returns on the investments. The money invested is managed by a professional fund manager. SIP is just a way of investing a fixed ...