Start a new SIP for the extra amount or cancel the existing SIP and open a new SIP with the amount of your choice
28-Sep-2015 •Research Desk
You advise to increase the SIP amount with an increase in one's income. But fund houses usually say this is not possible in an existing and running SIP investment. Please explain how can one increase SIP amounts in the existing funds.
- Soumitra Ray
Most fund houses do not encourage changing the SIP amount midway. You can overcome this problem by either starting a new SIP for the extra amount or cancelling the existing SIP and open a new SIP with the amount of your choice. And for easy tracking, all this can be done in the same folio.
