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 buy a smallcase as a SIP or you can setup an SIP anytime after you have bought the smallcase as a one time investment.
Buying a smallcase as a SIP:
Simply click on Monthly SIP at the time of buying. Your first SIP instalment will be equal to the minimum investment amount of the smallcase. However, you can also enter an amount greater than this; doing so will adjust the amount entered to the closest value so that the stocks & qty of shares are adjusted accordingly.
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. For steps on selling your smallcase, you can read through this article.
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> 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)
For more on how to place AMO orders, click here