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Thinking of taking a break from your Axis SIP (Systematic Investment Plan)? This guide explains the pause facility and alternative options to manage your contributions.
What is Pause SIP?
The pause facility allows you to temporarily stop your Axis SIP installments for a specific period. This lets you manage your cash flow without completely stopping your investment plan.
Things to Know Before Pausing:
- Limited Uses: You can only pause your SIP twice during its entire tenure.
- Advance Notice: Submit your pause request at least 10 days before the next installment date.
- Pause Duration: Pause for a minimum of 1 installment and a maximum of 6 installments.
- Applicability: Pause SIP is not available for SIP Insure, Flexi SIP, or SIPs done through Stock Exchange Platforms.
- Minimum Tenure: Your SIP must be at least 6 months old to be eligible for pause.
- Monthly SIPs Only: This facility is currently available only for monthly SIPs.
How to Pause Your SIP:
- Download the Axis SIP Pause Form (link not provided due to security reasons).
- Fill out the Pause SIP section of the form.
- Submit the form to your nearest Axis Mutual Fund Office or KFIN Tech office.
Alternative Option:
If you only need to miss a few installments (up to 3), consider redeeming the equivalent amount from the same mutual fund instead of pausing your SIP. This way, your SIP continues uninterrupted.
Axis SIP Pause FAQs
- Maximum Pause Duration? 6 installments, usable twice during the SIP tenure.
- How Many Times Can I Pause? Twice during the SIP tenure.
- Can I Skip Installments? Yes, use the SIP Pause form to skip a maximum of 6 installments.
If you interested to STOP Axis Mutual Fund then use SIP Stop Form
