Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can I switch the amount to another scheme before the tenure? Will the SIP continue in the old scheme or new scheme?

April 26, 2017Continue Scheme SIP Switch tenure

0

Posted

Can I switch the amount to another scheme before the tenure? Will the SIP continue in the old scheme or new scheme?

1 Answer

0

Posted

Switch from one fund to another can be done by giving a switch request and clearly indicating the SIP instructions. If it is clear, the switch will be activated and the investment will be made according to the instructions, else, the SIP will continue in the old scheme. Incase of SIP through Post Dated Cheques (PDCs), a new application and fresh cheques in favour of the new scheme have to be submitted. The old PDCs would be returned to the investor.