A Systematic Investment Plan (SIP) is a tool that you can use to plan out your finances in such a way that you invest a certain amount at regular intervals. You can invest in a Mutual Fund using a SIP to incorporate discipline into your investing habits.
Subsequence SIP Installment Payment:
The first installment of a SIP is deducted from your Upstox account while you register for it. However, after successful completion of the mandate (auto-debit) process, the subsequent installment will be directly deducted from your bank account.
Kindly note that as per the Exchange policy, the SIP amounts will be deducted on the date that you selected while setting up your investment. In case the date that you selected falls on a public holiday or a Saturday or Sunday, the amount will be deducted on the next working day. Kindly ensure that you maintain the required balance in your bank account to avoid any penalty charges by your bank. You can also check the return instruction charges with your bank to stay more informed.