SIP in Mutual Fund ( Systematic Investment plan) Such difficult situations can sometimes come in front of the investors investing through, When they do not have the funds to continue it. job loss, Such situations can arise due to salary cut or some other financial problems. covid-19 Many investors were finding it difficult to continue with the SIPs due to the financial difficulties created due to this. But there is a solution to this problem.
Use ‘SIP Pause’
Mutual Fund AMC, According to investment advisors and broking platforms, investors can stop SIPs during difficult economic conditions. for them ‘SIP Pause’ Option is allowed to be used. Experts say that if the job is lost or the income has decreased and the investor feels that it is temporary, then he ECS instead of bouncing ‘SIP Pause’ can use.
There is no charge for ‘SIP Pause’
‘SIP Pause’ Allows investors to always stop SIP installations. You can use this feature to pause your installation for a few days. After that you can continue it as per your convenience. That is, when your financial condition is fine, you can continue it. The good thing is that there is no extra charge to avail this facility.
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Do not cancel SIP, use ‘SIP Pause’
SIP always than to cancel ‘SIP Pause’ This option is good because it is easy to re-activate it. In case of SIP cancellation, the process of ECS mandate and certification has to be repeated. Almost all mutual fund houses including Kotak Mutual Fund, Nippon India Mutual Fund, L&T, Edelweiss Mutual Fund, DSP Mutual Fund Provides facility of ‘SIP Pause’. The logic behind providing ‘SIP Pause’ facility is that mutual fund companies should stay connected with it. It usually happens that once the customers have canceled the SIP, they do not invest in it again.
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