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What happens if I miss an SIP instalment payment?

If you miss an SIP instalment payment due to insufficient funds or any other reason:

Auto-Debit Failure: If you have set up AutoPay and the mandate is active, but your bank account has insufficient funds, the instalment will fail.
SIP Continuation: Your SIP will not be automatically cancelled due to a missed payment. It will continue from the next scheduled instalment date.
Multiple Missed Payments: If you miss multiple instalments, your AMC (Asset Management Company) may cancel your SIP as per their policies (Typically, 3 consequent failed SIPs).
Place a Purchase Order: If you miss an SIP instalment, you can manually place a purchase order on the same date to ensure you receive units for that day.
ECS Charges: If your auto-debit fails due to insufficient funds, your bank may levy ECS (Electronic Clearing Service) charges as per their policy.
Reactivating SIP: If your SIP gets cancelled, you may need to set up a new SIP to continue investing.

To avoid missed payments, ensure your bank account has sufficient funds, and your mandate is active and approved.

Last updated: 5 Months Ago

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