A step-up SIP is an automatic increase in the SIP amount by a predefined percentage.

Example Scenario

A SIP of ₹10,000 is made this year. A 10% step-up would mean that the SIP amount for the next year will increase to ₹11,000(10% of ₹10,000)and ₹12,100(10% of ₹11,000) the following year.

To create a new SIP with the step-up option, follow these steps:

1. Select the mutual fund and tap on SIP.
2. Tap on the check box for Automatic step-up (optional).
3. Enter the Increment percentage to select the percentage by which the SIP should increase.
4. Select Month and Day.
5. Tap on Create SIP.
6. Tap on Create.
7. Tap on Pay now.
8. On the payments page select UPI or netbanking.
9. Tap on Continue.

To enable step-up on existing SIPs, follow the below steps:

1. Tap on Investments and then on SIPs .
2. Tap on the fund and then on Modify.
3. Enter the Increment percentage to select the percentage by which the SIP should increase.
4. Select Month and Day.
5. Tap on Modify SIP.

Did you know?

• The step-up percentage multiple varies from scheme to scheme because each scheme has a unique additional purchase amount multiple.
• An email is sent when the step-up SIP is triggered.
• While modifying a SIP, the automatic step-up option can be selected and unselected at anytime.
• Funds in the Zerodha account cannot be used for mutual fund investments. See How to complete payments for the purchase orders on Coin?
• AMC SIP schemes cannot be created as a step-up SIP as the SIP for these schemes cannot be modified.