Stopping SIP

POSTED BY Raj ON January 12, 2013 12:40 am COMMENTS (7)

I started SIP directly from the Franklin Templeton AMC website and registered URN provided by them in my SBI online banking biller section. Now if I delete the biller registeration will that stop SIP payments? Currently my AMC does not allow online SIP cancellation.

7 replies on this article “Stopping SIP”

  1. Point taken. But I cant find the stop sip feature in HDFC! Can you point me to it
    Don’t see it either in DSPBR. See it in Quantum (but they don’t count since they do everything online)

    1. Raj says:

      From the top menu click SIP/STP then click the button “View registered SIP details” and from the grid you can cancel your SIP if you wish.

      1. Don’t see it. See only a ‘register sip’. All my SIP as listed in the table
        but there no links on any of the entries or any where else to that effect.

        1. Raj says:

          May be it is only available for registered SIPs which are yet to start. In such cases you should see the last column of grid with a link to Cancel.

          1. Yes you are right. I now remember I did this once for a SIP yet to start. Now I have few running SIPs and I cant stop them online! Thanks.

  2. Raj says:

    AFAIK, HDFC and ICICI Pru AMC has stop options for SIP online – I’ve used HDFC’s feature multiple times.

    Also I believe AMC stop sending SIP request once 2 payments are missed.

  3. That may stop further payments but not the SIP. FT may keep making requests to SBI and send you reminders

    You will have to send in a written request to stop the SIP it may take 30 days to take effect.

    I dont think any AMC has online cancellation. Why would they? There are enough people stopping equity investments already!

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