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This document serves as a formal request to discontinue a Systematic Investment Plan (SIP) associated with a mutual fund.
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How to fill out discontinuation of systematic investment

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How to fill out Discontinuation of Systematic Investment Plan (SIP)

01
Obtain the Discontinuation of SIP form from your financial institution or their website.
02
Fill in your personal details such as name, address, and contact information.
03
Provide your SIP details including the folio number, scheme name, and amount.
04
Specify the date you wish to discontinue the SIP.
05
Sign the form to authorize the cancellation.
06
Submit the completed form to the financial institution through the method they require, which may include email, postal service, or in-person submission.

Who needs Discontinuation of Systematic Investment Plan (SIP)?

01
Investors who no longer wish to invest in a particular fund.
02
Individuals facing financial difficulties and need to stop automatic deductions.
03
Those who have achieved their investment goals and want to cease further contributions.
04
Investors who are rebalancing their portfolio and want to change their investment strategy.
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People Also Ask about

Mutual funds are flexible long-term investment tools, and missing a few installments is not penalised by fund houses. However, if you skip payments for three consecutive months, your SIP will be automatically canceled. Additionally, your bank may charge a penalty for missed auto-debit transactions.
Interest rate fluctuations When interest rates rise, the values of bonds decline. So, if you have invested in debt funds via a Systematic Investment Plan and interest rates in the economy rise, your mutual fund value may decline. Depending on how much it falls, an SIP loss may occur.
When you stop a Systematic Investment Plan (SIP) in a mutual fund, no more automatic payments will be deducted from your account. The mutual fund units you've already invested in will continue to be invested in the fund. The value of these units will continue to fluctuate based on the fund's performance.
India's mutual fund SIP stoppage ratio rose to 128.27% in March from 122.76% in February, as 51.55 lakh SIPs were discontinued or completed while only 40.19 lakh new SIPs were initiated.
You should stop your SIP and take and exit only when you are in a desperate need for money. If your SIP is underperforming, you need to change the SIP fund and continue to invest there. Since markets are quite cyclical, it is not a good strategy to time the market.
Canceling the SIP will stop future installments, but your invested amount will remain as is until you redeem it. Once you place the request to cancel the SIP, it cannot be undone.
Your fund's poor performance. If your fund consistently underperforms its benchmark and category over multiple years and different periods (beyond short-term volatility) without a valid reason, you may consider stopping your SIP.
You should stop your SIP and take and exit only when you are in a desperate need for money. If your SIP is underperforming, you need to change the SIP fund and continue to invest there. Since markets are quite cyclical, it is not a good strategy to time the market.

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Discontinuation of Systematic Investment Plan (SIP) refers to the process where an investor decides to stop their scheduled investments in a mutual fund or investment scheme that operates on a systematic investment basis.
The investor who wishes to stop their systematic investments in a mutual fund or scheme is required to file the Discontinuation of Systematic Investment Plan (SIP).
To fill out the Discontinuation of Systematic Investment Plan (SIP), the investor needs to provide their account details, investment folio number, the specific SIP plan to be discontinued, and the reason for discontinuation, if required.
The purpose of Discontinuation of Systematic Investment Plan (SIP) is to formally notify the fund house or investment manager to cease the automatic deduction of installments from the investor's account.
The information that must be reported on Discontinuation of Systematic Investment Plan (SIP) includes the investor's name, folio number, details of the SIP to be discontinued, and any other required information as specified by the fund house.
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