Are you searching for How to Start SIP in the Upstox App in India 2024? If yes then you are at the right place. In this article, we will share step by step guide about How to Start SIP in Upstox App in India 2024.
Upstox is one the popular destinations for investing in Indian shares. It offers one of the best UI and features in contrast to other brokers. The Best part of Upstox Mutual fund is that you can all of the direct funds here which means you don’t have to pay additional charges like the regular funds. In the Upstox app, you can also get the option to invest in a particular stock on a monthly or weekly basis.
Also Read: How To Make 30000 Quickly
How to Start SIP in Upstox App in India 2024
How to Start Mutual Fund SIP in the Upstox App?
You can start SIP investing with a few simple steps. Here are the steps you will have to follow to Start a Mutual Fund SIP in the Upstox App:
- To Begin with, log in to your Upstox app.
- If you are onUpstox For Investor then you can see the mutual funds section at the bottom of the Homepage. However, if you are using the Upstox Pro Mode then you can find it in the Discover section.
- Search for the Mutual fund you want to invest in and select it.
- After that select the SIP option.
- Enter your preferred Investment amount.
- Under SIP Amount, you will also find an option to choose your SIP Schedule date.
- After selecting the SIP amount and date you have to tap on the continue button.
- Now Complete the payment for SIP and then you will have to set up the Auto-Pay feature.
Also Read: Post Office Monthly Income Scheme Full Details
How to Start Stock SIP in the UPSTOX App?
Stock SIP is similar to mutual fund SIP. However, in this method, you can invest in a particular stock on a weekly or monthly basis. You will get the option to invest based on a fixed amount or quantity. So if you want to start SIP in a particular stock then you can follow these steps:
- First of all open the Upstox app and login to it.
- Now search for the stock you want to start SIP.
- The Default order type will be set as ‘Market’. Simply Click on this drop-down menu and change the order type from ‘Market’ to ‘SIP’.
- Select your investment frequency weekly or monthly.
- In the last step, you must decide whether you want your Stock SIP to be based on a fixed amount or quantity.
- Your first SIP will executed on the same day. However, if the market is closed then it will completed on the next trading day.
SIP Calculator
FAQs: How to Start SIP in Upstox App
The Fund house won’t charge or penalise you if you don’t have enough money on the SIP date. However, if sufficient funds are not maintained by the investor, the bank may charge a fee for rejecting the ECS. In addition, if you miss 3 consecutive instalments, your SIP will be automatically cancelled.
Generally, It takes 3 days to get the first SIP units.
SIP lowers your investment costs and increases the money you will generate in the long run. On the other hand, Lumpsump is also a great option in a bear market and if your investment horizon is long-term.
It takes T+7 days to register e-Mandate.
