Follow the steps below to place an SIP Mutual Funds order.
Step 1: Log in to the Upstox app by entering your mobile number or User ID.
Step 2: Enter the OTP received on mobile number or mail ID to verify your mobile number.
Step 3: Next enter your 6 digit PIN.
Step 4: Navigate to the 'Invest' tab in the bottom navigation bar, and select 'View All Funds' within the Mutual Funds section. Step 5: Scroll or search for the desired fund using the ‘Search’ icon
Step 6: Select the fund and tap on ‘SIP’
Step 7: Choose the 'SIP Frequency', select the 'Date for SIP deduction', and then click on 'Amount'. You can also verify your 'Next SIP' date.
Note: In accordance with industry practice, there should be a 30 days gap between the first and second instalment, depending on the selected SIP frequency. For e.g. if you choose SIP frequency as monthly, there has to be a gap of 30 days between both your instalments and hence we have greyed out the dates while selecting SIP date.
Step 8: Enter the SIP amount to invest and click on 'Continue'.
Step 9: Please review the details of your SIP order before proceeding. Once you've confirmed them, click on 'Place Order.'
Step 10: Initiate your SIP by making the initial payment. Choose Net banking/UPI as your payment method, then click 'Pay now' to finalize the payment.
Step 11: For Net Banking, the page of your registered bank will appear for you to finalize your payment for the SIP investment.
Upon successful payment through net banking/UPI, the SIP will be initiated successfully. The funds will be debited from your registered bank account and not from the Upstox account.
Step 12: Navigate to the 'View Order History' within the MF Portfolio section, where you can review your order status under the 'Open Orders' tab or SIP tab. Usually, the order is finalized within three business days.
To ensure your upcoming SIP is automatically processed, kindly establish AutoSIP by adhering to the steps provided here. Failure to do so will result in your SIP investment not being processed automatically, and you will be required to place it manually.