To set up a weekly, fortnightly, monthly, or daily stock SIP, follow these steps:

1. Click on Orders and then on SIP.
2. Click on Create new SIP.
3. Click on Create basket or on + New basket.
4. Enter the basket name, and add the instruments to the basket.
5. Click on Back to SIP.
6. Enter the SIP name and select the basket.
7. Select the Date and Time.
8. Click on +Add and select a date with a weekly, fortnightly, monthly or daily interval.
9. Click on Create.

Creating daily SIPs and managing them is cumbersome. More importantly, if the goal is to invest regularly, there's no difference in returns between a daily, weekly or monthly SIP. A better way to do this is to add up the amount that has to be invested and create a weekly SIP instead. This makes it easier to track and manage multiple SIPs. To learn more, visit tradingqna.com/t/is-daily-sip-better-than-monthly/138135.

Did you know?

• Only 5 schedules are allowed per SIP.
• Only dates (1st to 31st) can be used to create schedules; days (Mon-Fri) cannot be used.

To know more about stock SIP, see How to create a stock SIP on Kite?