Mutual Fund SIP Cancellation
Everything you Need to Know
SIP Cancellation FAQ
When you cancel SIP the next installment will not be deducted the funds from your bank account. Investment you have made is not affected.
If you decide to keep the balance unit in your regular investment. Do you want to take out your investment? You can cash it out. You will not be penalized but the scheme will are subject to exit load according to rule.
The last 12 months of the sip unit is eligible for exit load. Check exit load in your statement below scheme unit details.
Normally every AMC Charge 1% exit load.
e.g. – Last 12 month investment (SIP Amt 2000*12) 24000 then exit load is approximate 240.
No Lock-in period for your regular SIP. The investment options in ELSS or an equity-linked savings scheme are accompanied with a mandatory lock-in time of Three years .
The retirement plan will come with the option of locking in for at most five years or until retiring age, whatever comes earlier.
There is no penalty fee for cancellation of sip.
Any reason you not continue your mutual fund SIP plan. That time you cancel your SIP.