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ICICI SIP Cancellation Form

If you wish to discontinue your Systematic Investment Plan (SIP) with ICICI Prudential Mutual Fund, you can complete the process either online (via AMC portal, MFCentral, or your broker) or offline using the physical cancellation form.

Important Things to Know Before Cancelling

  1. Units Remain Invested: Cancelling an SIP only stops future deductions from your bank account. Your accumulated units remain invested and continue to earn market returns until you submit a redemption request for your ICICI units.
  2. Notice Period (Cut-off Time): Submit your cancellation request at least 15 to 21 working days prior to your next SIP debit date to ensure the upcoming installment is not deducted.
  3. NACH / Mandate Status: Cancelling the SIP scheme registration does not automatically delete your bank OTM (One Time Mandate) or NACH mandate, which can be reused for future investments.

Option 1: Cancel ICICI SIP Online

A. Via ICICI Prudential Mutual Fund Website / Investor Portal

  1. Log in to the ICICI Prudential Mutual Fund investor portal using your PAN / Folio Number and OTP.
  2. Navigate to Transact / Systematic Transactions > SIP / STP / SWP Book.
  3. Locate the active SIP scheme you wish to discontinue.
  4. Click on Cancel / Stop SIP and select the cancellation reason.
  5. Authenticate the cancellation with the OTP sent to your registered mobile/email.
  6. The status of your SIP is typically updated within a few working days — check your account statement to confirm.

B. Via MFCentral or CAMS

If your ICICI Prudential folio is mapped under CAMS:

  1. Log in to MFCentral or the CAMS Online Investor Portal.
  2. Go to Service Requests > Systematic Transactions Management.
  3. Select the ICICI Prudential Mutual Fund folio, choose the active SIP, and submit a Cancellation Request.

C. Via Third-Party Investment Platforms (Groww, Zerodha Coin, AngelOne, etc.)

  • If you initiated the SIP through a fintech broker platform or demat mode, you must cancel the SIP directly through that platform’s dashboard, as external AMC-level cancellations may not sync automatically.

Option 2: Cancel ICICI SIP Offline (Using Physical Form)

If you prefer physical processing or your online access is restricted:

  1. Download & Print: Download the ICICI SIP Cancellation Form PDF (use the button above).
  2. Fill in Required Folio Details:
    • Folio Number
    • Name of First / Sole Holder
    • Scheme Name and Plan (e.g., ICICI Prudential Bluechip Fund - Regular / Direct Growth)
    • SIP Amount and SIP Registration Number (URN), if available
    • Effective Date for Cancellation
  3. Signatures: Ensure all unit holders sign the form according to the mode of holding (Single or Joint).
  4. Submission: Submit the physical form at the nearest ICICI Prudential Mutual Fund Branch or CAMS Official Point of Acceptance (POS).
  5. Collect Acknowledgement: Keep the stamped acknowledgement slip for your records. Processing typically takes 5–10 business days, after which you receive an SMS/email confirmation.

Alternative: Consider “SIP Pause” Instead of Cancelling

If you are facing temporary cash-flow constraints, cancelling your SIP may not be necessary:

  • Check whether an SIP Pause Facility is available for your specific ICICI Prudential scheme — it allows you to pause installment deductions for a short period (typically 1 to 3 months) instead of terminating the SIP.
  • Once the pause period expires, your SIP resumes automatically without needing fresh KYC or bank mandate setup.
  • Confirm the current pause terms directly with ICICI Prudential Mutual Fund or on their official website before relying on this option.

Frequently Asked Questions (FAQs)

Q1. Are there any exit penalties for cancelling an ICICI SIP? No. There are no penalty charges for stopping an ongoing SIP. However, standard exit loads apply only if you redeem/withdraw existing units before the minimum holding period.

Q2. What happens if an installment is debited after submitting the cancellation form? If the request was submitted less than 15 days before the scheduled debit date, one final installment may go through. The SIP will be stopped from the subsequent cycle.

Q3. How do I verify if my ICICI SIP is cancelled? You will receive an SMS/email confirmation from ICICI Prudential Mutual Fund. You can also generate an updated Account Statement (CAS) via CAMS or the ICICI Prudential portal to verify the SIP status shows “Terminated” or “Cancelled”.

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