How to increase SIP amount in MF

POSTED BY priya ON August 25, 2011 10:43 am COMMENTS (6)

I have SIP in HDFC top 200 for rs3000, i want to increase the SIP amt to rs5000.i asked MF office they told me to cancel the prev SIP & start a new SIP. i think rather cancelling prev sip n starting new sip can i start 1 more sip for rs 2000 n continue prev sip of rs3000.which option will be better & why?thanks in advance

6 replies on this article “How to increase SIP amount in MF”

  1. priya says:

    thanks to all of u for the quick responses.got ur suggestions,i will invest add. amnt online,

  2. TheZionView says:

    @Jig
    Here is my answer below

    I mean how it will be treated? As a normal lumsum invested in any fund or it will be added to our SIP folios?

    You have to choose which folio to add and it will be considered as Additional Investment

    How to do your second option if we have online HDFC account?

    By Online HDFC account means you have your HPIN obtained from the AMC.Using this and your folio no you can login to HDFC and make additional Investment on any given day.

  3. Jig says:

    Anand,

    How to do your second option if we have online HDFC account?

    Sorry i didnt seen your reply earlier so i raised the query.

    Tx

  4. Jig says:

    Good query ,
    I want to extend this query little bit further.
    If we want to add lumsum in the same fund we are having SIP, how it can be done?
    I mean how it will be treated? As a normal lumsum invested in any fund or it will be added to our SIP folios?

    Hope not confused. 🙂

    Regards
    Jig

  5. Anand says:

    I second Ramesh. Start a new SIP on a different date.

    I have another option also. Get the online access of your HDFC account and then you can do an additional investment in the same scheme online.

    The advantage is that you can fix the amount and you can do it on any day of the month. (say market has fallen sharply then you can take this opportunity to do your additional investment)

  6. Ramesh says:

    Yes, you can start a new one for 2k separately. you can even plan it at a different day from your usual SIP date.

    Plus, you can check out and take an online access of your hdfc fund account. then you can do it faster and more easily.

    This option is just more flexible (in terms of, say you cannot pay 5k for 3 months because of unforeseen circumstances, then division into 2 diff SIPs will help you continue atleast one of them, etc).

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