How to create a SIP on the Coin app?
To create a SIP on the Coin app, follow these steps:
- Select the fund and tap on SIP.
- Enter the Initial investment amount and Instalment amount.
- Select the frequency (Weekly, 15-days, Monthly or Quarterly).
- Tick the Automatic step-up checkbox, enter the Increment percentage, and select the month and date to step up the SIP automatically. Untick to prevent automatic step-up.
- Tap on Create SIP and then Create.
and complete the payment.
Did you know? To ensure that a Systematic Investment Plan (SIP) starts within the current month, it must be set up at least 2 days prior to the preferred execution date. For example, if the client wants the SIP to execute on the 5th of each month, they need to set it up on or before the 3rd of the current month. If the SIP is set up on the 4th with an execution date of the 5th, it will start from the next month.