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 at the time of buying a smallcase or you can setup an SIP anytime after you have bought the smallcase as well.
For a step by step guide on setting up SIP, refer to the instructions below:
Start SIP
You can now start SIP at the time of buying the smallcase. All you've to do is click on Monthly SIP >> tap on the Confirm Amount button and click on Start Monthly SIP
Immediately you can see the pop up that says you'll be starting SIP in the number of shares in your smallcase.
To start SIP after you've invested in the smallcase, you can go to Investments>> Click on the name of the smallcase >> Tap on Start SIP from under More actions >> Click on Review order and Tap on Start SIP.
Once you've started the Auto-SIP you can see the following message on your screen
2. Edit SIP
You can also edit your SIP by going to Investments page > Select the smallcase > You will find the option to edit the SIP just below the Invest more button.
Clicking on Edit Auto-SIP will take you back to the SIP pop-up - where you can edit the frequency and start date and save changes.
After navigating to the ‘edit’ section, you can change the frequency of your SIP and save changes or you can change the start date/due date 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)
3. End SIP
At the bottom of the Edit SIP window (below the performance chart), 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)
Further reading: