Am I required to transfer my SIP installment every month?
While starting an SIP, you will be required to set up a NACH/One-Time Mandate. This is a one-time registration through which you give an institution the authorisation to debit funds from your bank account. As a result, you will not be required to transfer funds every month.
|Investment Route||NACH/One-Time Mandate Details|
|FundsGenie||By registering an SIP on FundsGenie, you will be giving BSE the authorisation to debit the specified installment amount from your bank account and invest it in the selected mutual fund|
|Offline Route||By registering an SIP through the offline route, you will be giving the concerned fund house the authorisation to debit the installment amount from your bank account|