What is the right date to start SIP? If you have forgotten the payment date, what will be its effect?

Mutual Fund SIP Investment: Investing in SIP i.e. Systematic Investment Plan has become a very profitable deal nowadays. But, before investing in Mutual Funds through SIP, it is very important to know about it properly. Investing without doing the right homework can result in loss instead of profit. Before starting a SIP, check the date on which it is being started. According to experts, you can start SIP whenever you want, but if you start it at a particular time of the month, then it will give you maximum benefits.

This is the special date to start SIP
Although there is no specific formula to start SIP (Tips to Choose Right SIP Rate) but, HDFC Bank advises customers that if it is started after 10th of every month then it is better. . After this, investing does not face any kind of problem. It is worth noting that investors decide the date to start SIP according to the date of receipt of money in the bank account from SIP. If you want, you can use SIP Calculator before starting SIP. This will give you an accurate idea of ​​your returns.

What is SIP?
SIP (Systematic Investment Plan) is a systematic investment scheme. Under this, you invest a fixed amount after some regular time in a pre-determined mutual fund scheme. This interval can be done on month or three month basis. During a SIP, your total cost is averaged. You can invest in this according to your financial condition. It also gives you the flexibility to choose your investment limit.

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If payment is not made on time
Let us tell you that there is an Auto Debit Transaction feature in SIP. In this, on the due date, the amount automatically comes out of your bank account and comes in SIP. But, if there is no balance in the account, then the money will not be deducted and the bank will charge you. Therefore, keep in mind that the money must be in the account before the due date.

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