How to Increase Your Existing SIP in Axis Mutual Fund Online: A Step-by-Step Guide
Dear investor, thank you for your valuable question. This is a common concern for many investors who wish to increase their investment amounts.
Understanding Systematic Investment Plan (SIP)
Systematic Investment Plan (SIP) is a popular method of investing in mutual funds. By investing a fixed amount on a regular basis, you can benefit from the power of compounding.
If you want to increase the monthly SIP amount from Rs. 1000 to Rs. 1500 in Axis Mutual Fund online, here is a step-by-step guide to help you through the process:
Step-by-Step Guide to Increasing Your SIP Amount
1. Log in to Your Axis Mutual Fund Account
You can access your Axis Mutual Fund account through their website or mobile app. If you don't have an account, you will need to create one and link your mutual fund investments.
2. Find Your Existing SIP
Once you are logged in, navigate to the section that shows your current SIPs. This may be under a tab such as My Investments.
3. Modify SIP
Look for an option to edit or modify your existing SIP. This option might be labeled as Edit SIP, Modify SIP, Change SIP, or something similar. Click on the SIP you wish to modify.
4. Change the SIP Amount
When you click on the edit option, you will be able to change various details of your SIP, including the investment amount. Increase the amount from Rs. 1000 to Rs. 1500.
5. Confirm the Changes
After making the changes, the platform may ask you to review and confirm them. Double-check the new SIP amount, frequency, and any other relevant details.
6. Authenticate
Depending on the platform's security measures, you might need to authenticate the change using an OTP sent to your registered mobile number or email. Alternatively, you might need to use other security methods.
7. Save the Changes
Once authenticated, save the changes. You should receive a confirmation message or email indicating that the SIP amount has been updated.
8. Follow-up
To ensure the change has been implemented, you can check your upcoming SIP transactions or wait for the next SIP debit to confirm the new amount. If you encounter any issues, you can reach out to MySIPonline for assistance.
Alternatives for Increasing SIP Amount
Alternatively, you can do it through the Axis Mutual Fund app or the e-KYC (Know Your Customer) app. You can either open an additional SIP for the excess amount or cancel the existing SIP and open a new one for the higher amount. Both options are available and fairly easy to manage.
If you need more assistance or have questions, feel free to reach out to MySIPonline. Happy investing!