Before you make any Mutual Fund investment,
you need to complete a KYC process. This is done
through submission of certain documents as proof of identity and proof of
address. The process of starting or stopping an SIP is extremely convenient and
easy. How to start an SIP is explained in the graphics on the left.
What
happens when you skip an installment or two?
SIP
is just a convenient mode of investing and not a contractual obligation, there
is no penalty even if you miss an installment or two. At most, the Mutual Fund
Company would stop the SIP, which means further installments would not get
debited from your bank account. At the same time, you can always start another
SIP, even in the same folio, even after the earlier SIP was stopped. Please
keep in mind, this would be treated as a fresh SIP and hence there could be
some time taken to set up the SIP all over again.
Consult
with a financial
advisor today and start enjoying the benefits of
Mutual Funds!
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