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Daily SIP

Registration​

T = day of registration
T+2c = start of instalments

Debit Schedule​

SIP debit happens on the following days:

Business Day Daily SIP: Mon, Tue, Wed, Thu, Fri
Calendar Day Daily SIP: Mon, Tue, Wed, Thu, Fri, Sat, Sun

Process (w/ UPI Autopay)​

T = day of sip instalment

Daily SIP ProcessDaily SIP Process
  • on T-1c day: Notification about the next day debit will be sent to the investor by his bank, at around 5am
  • on T day: Actual debit happens, at around 8am
  • on T+1b day: Units are allotted on that day's NAV
  • on T+1b+1c day: Unit allotment details are available. SMS notification is sent to the investor by the AMC.

Cancellation​

You can cancel a SIP anytime when the fulfillment is in PENDING OR ONGOING states.

When cancelled

  1. No future instalments will be generated
  2. Instalments already generated but waiting for the payment debit - will have no impact (the debit will happen as per the schedule)
  3. Instalments already generated and payment debit happened - will have no impact (units will be allotted after processing)

API​

In the on_search callback, scheme plans supporting daily sip will have fulfillments of type = SIP and THRESHOLDS.FREQUENCY tag = P1D with the following variations

  • For Business day Daily SIP: THRESHOLDS.FREQUENCY_DAY_TYPE tag = BUSINESS
  • For Calendar day Daily SIP: THRESHOLDS.FREQUENCY_DAY_TYPE tag = CALENDAR

While making a select call, use the appropriate fulfillment id and provide the schedule as shown in the example below.

"fulfillments": [
    {
        "id": "34002",
        // ... other attributes
        "stops": [
            {
                "time": {
                    "schedule": {
                        "frequency": "R6/2025-05-15/P1D" // 6 instalments, starting 15th May
                    }
                }
            }
        ]
    }
]