ap211
ap211
Remote

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. 😅

7mo ago
Dark_Dog
Dark_Dog
Groww7mo

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

ap211
ap211
Remote7mo

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

PutridArm36
PutridArm36
Porter7mo

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

l0calh0st
l0calh0st
Pocket FM7mo

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
ap211
Remote7mo
l0calh0st
l0calh0st
Pocket FM7mo

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

ChinChinChu
ChinChinChu
Stealth7mo

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
ap211
Remote7mo

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

hewmanb3ing
hewmanb3ing
Stealth7mo

@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.

Gavi
Gavi
Accenture7mo

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

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