How to Pause or Stop Mutual Fund SIP ?
In today's post, you will learn how to close or stop Mutual Fund SIP Pause and also when and under what circumstances you should make a temporary stop or permanent closure of Mutual Fund SIP?
Mutual Fund SIP Pause or Need to Close
Generally the investment made through Mutual Fund SIP is considered as a long-term investment, in which the fixed amount of Mutual Fund SIP investment is deducted from our account every month,
But many times due to different personal reasons such as loss of job, increase in expenses, or any other financial problem, one wants that - every month the amount of Mutual Fund SIP is being deducted automatically. Not severed, either Mutual Fund SIP Pause for some time (temporarily closed for some time - 6 months 9 months 1 year closed) or in some circumstances the person wants Mutual Fund SIP further Be closed forever,
So in both these situations, if you have decided, then you can make your Mutual Fund SIP Temporary Closure or Permanent Closure .
But an important Question !
Should you STOP Mutual Fund SIP or not?
By investing through Mutual Fund SIP, you are creating a fund for your future, so in my opinion you should make a very careful decision to stop or stop a Mutual Fund SIP,
And in most cases you should not stop it at all… because your expenses have gone up, or your job has gone away for some time,
If the expenses have increased, then you should focus on controlling your expenses immediately, and if there is a problem of job then you should look for another job soon .. not think about turning off SIP .. because By stopping the Mutual Fund SIP or closing it, you are putting your future at stake, and you are reducing the money you are going to get from the Mutual Fund SIP in the future….
And if you are discontinuing the old Mutual Fund SIP, because you are going to start another Mutual Fund SIP, then you should do so thoughtfully….
So I hope that before closing Mutual Fund SIP you will keep these things in mind,
Now let's talk about - If you want to close the Final Mutual Fund SIP, then how can you do it .
Mutual Fund SIP Pause or Stop Processing,
Whenever you start a SIP (Systematic Investment Plan) investment in a mutual fund, then we have to choose some options while filling the form of Mutual Fund SIP, like - how long do you want to do Mutual Fund SIP,
And in such case we usually have two options -
First option - up to a fixed time period (eg January 2019 to December 2025), where we tell when the Mutual Fund SIP will start and stop
So if you have selected this kind of date, then in this Mutual Fund SIP, your money will go till the last date which you have selected,
And there is another option - until you cancel.
So if you have chosen another option, then you can use the following methods to stop this Mutual Fund SIP Pause or Stop Mutual Fund SIP Pause or -
Talk to Customer Care of Mutual Fund Company -
Note that - To make such changes Mutual Fund SIP Pause or Stop All Mutual Fund Company has its own terms and conditions, then whichever company you have Mutual Fund, you are the first customer of that Mutual Fund Company. Call care and ask your questions, and they can guide you well on what process you need to follow to stop your Mutual Fund SIP Pause or…
(Note that - All Mutual Fund Companies offer the option to discontinue Mutual Fund SIP, but not all Mutual Fund Company gives the option to stop Mutual Fund SIP or for some time, so you should get your Mutual Fund Must talk to customer care of the fund company)
Now the Second Option is -
Go to the office of offline process Mutual Fund company -
If you want to go to the nearest office of Mutual Fund Company, and after getting information about it there, if they give you a form to stop Mutual Fund SIP Pause or stop, then fill that form and submit it… and Like you can stop your Mutual Fund Mutual Fund SIP Pause or
Now the Third Option is -
Online Process Mutual Fund Company Website or Mobile Application -
If you talk to the customer care of the offline process Mutual Fund Company, and if they tell that you can stop Mutual Fund Mutual Fund SIP Pause or stop online too i.e. through Mutual Fund Company website or mobile application then you can simply From them, knowing its process, you can temporarily stop or stop your mutual fund SIP, or you can stop it,
Hope, after reading this post you will be able to understand how you can do Mutual Fund Mutual Fund SIP Pause or Stop and whether you should do it or not?