InvestorQ : What happens if I miss SIP installment?
Vikas made post

What happens if I miss SIP installment?

Answer
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Roshni Hegde answered.
8 months ago


Many investors see the mutual fund as an insurance scheme where if they miss any premium amount to pay they are penalized and ultimately leads to inactivation of the plan.

However, I have good news for all mutual funds lovers! Investors are never charged if they skip few payments in-between. In mutual funds your investments will be continued that gets you the return and investors are free to withdraw anytime they want.

If the investor continues the nonpayment of SIP for 3 consecutive months, the investment is canceled by the mutual fund company. Not just this but your bank will penalize for discontinuing auto-debit payments.

I would ask you to maintain the payment cycle that will help you accumulate wealth to achieve your financial goals.