You might miss a Mutual Fund SIP instalment if you have insufficient balance in your bank account or if your mandate is not approved.
- If you miss 3 consecutive SIP dates, then the AMC will cancel your future SIPs
- In case of insufficient balance in your bank account, you might be charged a penalty (similar to situations when a cheque bounces). This penalty is charged on ‘non-maintenance of sufficient balance’ for AutoSIP mandates via ECS (Electronic Clearing Service)
- For your next month’s SIP to be processed successfully, ensure you maintain sufficient balance
- Click here to know how you can pay a missed SIP instalment