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. 😅

13mo ago

Talking product sense with Ridhi

9 min AI interview5 questions

GoofyWalrus

Groww13mo

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

PeppyPretzel

Stealth13mo

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

GigglyHamster

Porter13mo

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

Stealth13mo

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

Stealth13mo

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

Stealth13mo

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

SqueakyQuokka

Stealth13mo

If you start your SIP on 2nd feb along with the first installment, your next installment goes on 2nd April and then 2nd of each month

PeppyPretzel

Stealth13mo

Ahh okay....got it...thanks man

SillyUnicorn

Stealth13mo

@ap211 AFAIK, SIP is a long term game. 2 days here and there doesn’t have any effect on the returns in a longer time frame.

QuirkyPretzel

Accenture13mo

You can change the date of installment for Feb-March cycle. Also could you tell in which mutual fund you are investing?

Discover more

Curated from across

Personal Finance9mo

by JazzyPancakeProduct Manager

Mutual funds - Upcoming scam

Lately, there have been news surfacing about some incidents where discounts brokers like Grow have not even invested a user’s money in mutual funds, and when this guy wanted to redeem, he realized, the fund he has been paying for has not...

Personal Finance16mo

by WigglyRaccoonStudent

will I get itr refund?

my new company is asking for investment proofs for tax now only, I'm yet to invest in elss. If I don't provide the proofs I'll be paying more tax but I invest in elss in between Jan to Mar, I can show this while filing and claim a refund...