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Monthly SIP

Registration​

T = day of registration

While registering a monthly SIP, you need to provide the following inputs:

  1. First instalment date. It has to be any day on or after T + 2c. The date should be among the allowed monthly dates for the scheme chosen.
  2. Number of instalments. min/max?

Debit Schedule​

SIP debit happens on the instalment day, every month as per the provided schedule. If for some reason, POA is not able to debit on the instalment day, it attempts to debit on the following day. Debit will never be attempted before the instalment day. Even if the instalment day is a market holiday, the debit will still happen.

Process​

T = day of sip instalment

SIP Debit process with UPI Autopay MandateSIP Debit process with UPI Autopay Mandate
  • 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.

API​

In the on_search callback, scheme plans supporting monthly sip will have a fulfillment of type = SIP and THRESHOLDS.FREQUENCY tag = P1M.

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

"fulfillments": [
    {
        "id": "34023",
        // ... other attributes
        "stops": [
            {
                "time": {
                    "schedule": {
                        "frequency": "R6/2025-05-15/P1M" // 6 instalments, starting 15th May and recurring every month on 15th
                    }
                }
            }
        ]
    }
]