I missed one Systematic Investment Plan (SIP) payment due to lack of funds in my account. Can I pay the same before the next date?
There is no penalty associated with missing the monthly SIP payment
I missed one Systematic Investment Plan (SIP) payment due to lack of funds in my account. Can I pay the same before the next date?
Girish Sahay, Noida
There is no penalty associated with missing the monthly SIP payment and the folio won't be discontinued. Investments in mutual funds happen on the day the money hits the account, you cannot buy fund units retrospectively, which means even if you increase the SIP next month, you cannot buy the units at the price which was prevalent in the previous month.