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 volatility
You can start SIP while buying the smallcase for the first time or after you purchase the smallcase, from the Investments page.
Buying a smallcase as a SIP:
At the time of purchasing any smallcase, you can tap on the Monthly SIP option (selected by default).
With SIP, your first instalment will always be an amount equal to or greater than the minimum investment amount of that smallcase. This is to ensure that the weighting scheme is maintained to remain true to the underlying theme/strategy/model of the smallcase. You can simply tap on Confirm Amount > Start Monthly SIP
You can edit the SIP settings whenever you want to change the frequency, SIP amount and next due date. Simply navigate to your Investments > open the smallcase with SIP active > click on Edit SIP under More Actions
You can also end your SIP here. This will not sell your smallcase, instead you will continue to hold it and can restart a SIP in it again.
Setting up a SIP after purchasing:
Say, you have bought a smallcase as a one time investment but wish to set up a SIP in it. Here's how you can do it - navigate to your Investments > open the invested smallcase you want to start a SIP in> scroll to the bottom > click on Start SIP under More Actions
Here you can choose the frequency of SIP (weekly, fortnightly, monthly & quarterly), select the SIP start date, and also set the SIP amount.
SIPs are not automatically executed. When your SIP is due, you will receive a notification and you can execute the SIP in just 2 clicks.
SIP using AMO:
You can also place the SIP order for your smallcase after the market hours using AMO. The order will be executed in the next market day between 09:00 AM and 09:14 AM (pre-market hours)