PeppyPretzel

SIP issue in February

Hey guys,

I have a doubt. I have a SIP in mutual fund. I am a bit confused about February month. Let's say my SIP date is on 2nd Feb, so what would be the next SIP date ? I don't think it would be 2nd of march as the difference between these two dates would be 28 days only but as far as I know, there should be atleast 30 days gap between two installments in SIP.

Would be great if anyone can clarify this. 😅

20mo ago

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GoofyWalrus

Groww20mo

Yess 1st and 2nd SIP need to be atleast 30 days apart

PeppyPretzel

Stealth20mo

@Dark_Dog So what about feb month bro ? I still didn't get the answer. 😅

GigglyHamster

Porter20mo

Hey, I also started an SIP in February and the March SIP didn't get deducted. I thought there was some issue with bank

FloatingMarshmallow

Stealth20mo

There is no rule saying there has to be 30 days gap between SIP. When you set up SIPs it on specific date of a month. So yes next SIP will be 2nd March itself.

PeppyPretzel

Stealth20mo

Bro, I think you are wrong here. It says there has to be a minimum of 30 days gap between two installments.

Check this out - https://www.google.com/search?q=minimum+duration+between+two+installments+in+sip&client=ms-android-samsung-gs-rev1&sca_esv=959a59c8beda7f19&ei=vsMOZrHjOcmhnesPosqoWA&udm=&oq=minimum+duration+between+two+installments+&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIiptaW5pbXVtIGR1cmF0aW9uIGJldHdlZW4gdHdvIGluc3RhbGxtZW50cyAqAggAMgUQIRigATIFECEYoAEyBRAhGJ8FMgUQIRifBUi2fVCPF1jKcnADeACQAQCYAeYCoAHiRqoBCTAuMTcuMjUuMbgBAcgBAPgBAZgCLaAC5UeoAg_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&sclient=mobile-gws-wiz-serp

FloatingMarshmallow

Stealth20mo

Aah okay, actually 30 days difference mandate is only for your 1st and 2nd SIP installment after that it happens on the date you have mentioned. I didn't actually know this. Source: https://groww.in/help/mutual-funds/order/my-next-sip-due-date-is-2-months-away-why