What is the AMC SIP option on Coin web?
A Systematic Investment Plan (SIP) is a technique of investing money in mutual funds, wherein you regularly invest a predetermined amount of money in a particular fund, on a particular date of the month.
For example, invest Rs.5000/- in a large-cap fund, on every 5th of the month.
There are two ways to set up a SIP investment on Coin:
1) Via Coin itself, wherein you can control the SIP attributes (like pause SIP, edit SIP, step-up SIP, delete SIP, etc) using the Coin interface.
2) AMC SIP, wherein you set up the SIP with an AMC directly, using the Coin interface.
This article will help you understand the AMC SIP better.
In an AMC SIP, the minimum investment amount is as specified by the AMC. The AMC SIP is not created internally in our system. Hence, you will not be able to modify/pause/step-up the SIP. If you’d like to delete or cancel your SIP, it can be done only 2 days prior to the SIP’s next installment date.
To create the AMC SIP on coin.zerodha.com, please follow the below steps:
- Select a fund of your choice.
- Click on Direct SIP.
- Uncheck the ‘Suggest initial investment’ option. This is an optional field but has to be unchecked.
- Select your SIP date.
- Click on Start SIP and Confirm.
The GIF above helps you understand the process better.
Note: The AMC SIP option is only available for new investments.
You can refer this article to know what happens on the background once you create an AMC SIP.