Useful tips

Can I redeem my SIP before maturity?

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Can I redeem my SIP before maturity?

Unless it is an investment in an Equity Linked Savings Scheme (ELSS), wherein there is a lock-in of 3 years from date of investment, there are no restrictions on investment redemption.

How do I get my money back from SIP?

If you have purchased your SIP with your Demat or trading account, you will receive an e-pay out to the bank account registered with that account. You will need to submit a redemption request to do the same. If you hired an agent to invest in SIPs, contact the same agent to redeem it.

Can I close my SIP anytime?

You may cancel SIP even if you have invested through a mutual fund distributor. It helps if you inform your mutual fund agent who fills up the cancellation request for the SIP with the respective AMC.

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Can I skip SIP for few months?

An SIP pause is temporary and you need to restart, but you can stop investing for a few months. Not all fund houses allow you to pause your SIPs. But some such as ICICI Prudential Asset Management Ltd, Invesco India Asset Management Co. You need to give sufficient notice to your fund house.

Can I stop paying SIP?

Once you are ready to continue making your SIP payments, you can intimate your bank and your mutual fund company. However, you need to keep in mind that if you give the ‘stop payment’ instruction for a period of more than 2 months, then your SIP will be cancelled by the AMC.

Can I stop SIP for few months?

Yes, you should explore the `pause your SIP’ option offered by mutual funds before finalising to stop your mutual fund investments through SIPs. As you know, most fund houses always had the pause facility – the option allows investors to pause their SIPs for one to three months and then restart their SIPs.

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How do I withdraw money from my mutual fund after maturity?

You simply have to log-on to the ‘Online Transaction’ page of the desired Mutual Fund and log-in using your Folio Number and/or the PAN, select the Scheme and the number of units (or the amount) you wish to redeem and confirm your transaction.