SIP issue in February

Hey guys, I have a doubt. I have a SIP in mutual fund. I am a bit confused about February month. Let's say my SIP date is on 2nd Feb, so what would be the next SIP date ? I don't think it would be 2nd of march as the difference between these two dates would be 28 days only but as far as I know, there should be atleast 30 days gap between two installments in SIP. Would be great if anyone can clarify this. 😅

l0calh0st

Pocket FM

6 months ago

There is no rule saying there has to be 30 days gap between SIP. When you set up SIPs it on specific date of a month. So yes next SIP will be 2nd March itself.

ap211

Remote

6 months ago

Bro, I think you are wrong here. It says there has to be a minimum of 30 days gap between two installments. Check this out - https://www.google.com/search?q=minimum+duration+between+two+installments+in+sip&client=ms-android-samsung-gs-rev1&sca_esv=959a59c8beda7f19&ei=vsMOZrHjOcmhnesPosqoWA&udm=&oq=minimum+duration+between+two+installments+&gs_lp=EhNtb2JpbGUtZ3dzLXdpei1zZXJwIiptaW5pbXVtIGR1cmF0aW9uIGJldHdlZW4gdHdvIGluc3RhbGxtZW50cyAqAggAMgUQIRigATIFECEYoAEyBRAhGJ8FMgUQIRifBUi2fVCPF1jKcnADeACQAQCYAeYCoAHiRqoBCTAuMTcuMjUuMbgBAcgBAPgBAZgCLaAC5UeoAg_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&sclient=mobile-gws-wiz-serp

l0calh0st

Pocket FM

6 months ago

Aah okay, actually 30 days difference mandate is only for your 1st and 2nd SIP installment after that it happens on the date you have mentioned. I didn't actually know this. Source: https://groww.in/help/mutual-funds/order/my-next-sip-due-date-is-2-months-away-why

Dark_Dog

Groww

6 months ago

Yess 1st and 2nd SIP need to be atleast 30 days apart

ap211

Remote

5 months ago

@Dark_Dog So what about feb month bro ? I still didn't get the answer. 😅

PutridArm36

Porter

5 months ago

Hey, I also started an SIP in February and the March SIP didn't get deducted. I thought there was some issue with bank

See more comments

ChinChinChu

Stealth

5 months ago

If you start your SIP on 2nd feb along with the first installment, your next installment goes on 2nd April and then 2nd of each month

ap211

Remote

5 months ago

Ahh okay....got it...thanks man

Gavi

Accenture

5 months ago

You can change the date of installment for Feb-March cycle. Also could you tell in which mutual fund you are investing?

hewmanb3ing

Stealth

5 months ago

@ap211 AFAIK, SIP is a long term game. 2 days here and there doesn’t have any effect on the returns in a longer time frame.