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 once you have purchased the smallcase in which you can set the frequency as well as the SIP date. And the amount for SIP would be the minimum amount of your smallcase at the time you make SIP. So any amount less than the minimum amount couldn't be invested.
SIP Step by Step Guide:
You can start SIP while buying the smallcase for the first time or after you purchase the smallcase from the Investments page.
- 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, you will see the option to ‘Start SIP'
2. SIP specifications
- 'View SIP performance for past 3 years' shows you an overview of what your investment would have amounted to at present, if you had invested the said amount through SIP for the past 3 years
- On the SIP page, you can select a frequency and start date for your SIP
- The frequency of investing in SIP can be on a weekly, fortnightly, monthly or quarterly basis
The SIP amount for smallcases starts from Rs. 5000 - the amount is determined by the stocks in your smallcase as well as the current market prices.
3. Start Date and Start SIP
- Next, you will have to choose a start date for your SIP. Your SIP instalment due date will be calculated from this date depending on the frequency you have chosen
- After going over the above mentioned things, you can then tap on the Start SIP button
Note: SIP acts as a reminder and does not automatically place orders on your behalf
4. Edit SIP
- After confirming investing through SIP, you can click on ‘Continue’ to complete the process (or) if you want to make any changes to the amount, frequency or start date, you can click on Edit SIP (You are free to edit your SIP at any time)
- After navigating to the ‘edit’ section, you can change the frequency, start date/due date or amount of your SIP and then save the changes
- At the bottom, you have the option to ‘End SIP’, which ceases your SIP instalments for that smallcase (You are free to end your SIP at any time)