How do I set up AMC SIPs on Coin mobile app?
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 the Coin app:
- 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.
- AMC SIP, wherein you set up the SIP with an AMC directly, using the Coin interface.
This article will help you understand how to set up the AMC SIP using Coin mobile app.
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 the Coin app, please follow the below steps:
- You can click on the mutual fund you wish to invest in.
- Choose the SIP option.
- Click on the “No initial investment” option.
- Set the preferred frequency, date, and amount.
- Click on Create AMC SIP.
This is how you can create an AMC SIP on the Coin app. Click here to understand how the AMC SIP is registered once you create the SIP.