Query on SIP first payment date
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Hey'll.. so I am planning to start a SIP on Groww & when I select `10th of every month` option, it shows `Next Payment on Aug 10th`. so my question is when I connect my UPI Autopay now, will the 10K be deducted immediately for this month (July) and second installment is on Aug 10th OR the first installment itself is on Aug 10th?
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1st installment in this month, can select next month's date.
In Which sip, you decided to invest because i also want to invest
Which mutual funds are good to invest
I am not an expert but all I could say is the selection should be based on the type of risk you are willing to take by investing in mutual funds
PS: the link is to the riskometer info page on groww but I dont think its redirecting correctly!
Whenever you start any investment the first installment will be on the same time or we can say immediately. The next installment date will be starting from the date which you set on the application for example 10th of every month so suppose this is July, you paid today that is your first installment of 10000 the next installment will be debited in the 10 August or whatever the date you set for every month.
Remember SIP will not be start without any initial payment because this payment will be send to the respective AMC house which will be considered as you are starting your SIP from now and the same will be allocated to you in 3 business days or trading days. The final units will be allocated on the third day with that NAV date.
aug 10th first installment