The amount to be debited for a Stock SIP Order will be based on the previous day closing price of your Stocks + 5% extra.

This amount cannot exceed the mandate amount you have approved. In case the SIP amount exceeds the mandate amount, no auto-debit will take place. 

If you want to ensure that your SIP Order is executed even when the Autopay fails, make sure to keep sufficient balance in your Upstox wallet. 

Example: 

Let’s say you have added 20 quantities of 3 Stocks in your Stock SIP Order. The previous day closing prices of these Stocks are ₹100, ₹200, and ₹300. Let’s say the approved mandate is for ₹15,000.

Stocks

Previous Day closing prices

Quantity

A

₹100 

20

B

₹200

20

C

₹300

20

For the above order, the amount to be debited will be:

= (₹100X20 + ₹200X20 + ₹300X20) + 5%

= ₹12,000 + 5%

= ₹12,600 

So for the above Stock SIP Order, ₹12,600 will be debited from your account. 

Keep in mind:

  1. To ensure larger SIP Orders are executed without fail, we recommend setting up higher payment mandates. 

  2. You can adjust your SIP Orders according to your convenience and to suit your payment mandate. 

  3. If any of the buy order(s) in your SIP fails, the amount added from your bank account will remain in your Upstox wallet.  

  4. The excess amount left after investing in your Stock SIPs will remain in your Uptox wallet. You can withdraw or invest this amount anytime easily.