- Mandate should be approved before the SIP installment due date.
- Between two installments there should be a gap of your selected frequency.
For e.g. If you select frequency as “monthly” then there should be a gap of 30 days between 1st installment and subsequent installments.
Assume: Let’s consider today is 16th September where you registered for SIP in ABC Fund for monthly and selected the SIP date as 1st October. In this scenario, the 2nd installment will take place on 1st November rather than on 1st of October because the 1st installment will get deducted on 16th September itself or the date of installment selected by you.
If the said criteria of 30 days gap between 1st installment and subsequent installments doesn’t match then probably SIP gets spill over to the 1st of November.