How to set up weekly, fortnightly, monthly or daily stock SIP?
To set up a weekly, fortnightly, monthly, or daily stock SIP, follow these steps:
- Click on Orders and then on SIP.
- Click on Create new SIP.
- Click on Create basket or on + New basket.
- Enter the basket name, and add the instruments to the basket.
- Click on Back to SIP.
- Enter the SIP name and select the basket.
- Select the Date and Time.
- Click on +Add and select a date with a weekly, fortnightly, monthly or daily interval.
- Click on Create.
Creating daily SIPs and managing them is cumbersome. More importantly, if the goal is to invest regularly, then 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 can I setup a stock SIP on Zerodha Kite?