Daily Mutual Fund SIP: What is the minimum investment amount?
Mutual fund houses allow investors to choose SIP frequency as per their own convenience. Mutual fund subscribers are given SIP investment options like daily, monthly or quarterly. The monthly Systematic Investment Plan (SIP) is the most preferred way for people to invest in mutual funds until today. But slowly and slowly, asset management companies (AMCs) are witnessing a rise in interest from people for daily SIP as well.
Like any other frequency of SIP, mutual fund houses provide daily SIP option to investors. In daily SIP, an investor can pick any day to start an SIP. Daily SIP usually gets registered after 30 days from the date of submission of an SIP application form.
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If someone is using the Paytm platform to invest in any mutual fund, the minimum daily SIP amount is kept at Rs 21 and the maximum investment for a day can be as high as Rs 1001. There are many fund apps and platforms which have kept the minimum daily SIP investment amount at Rs 100.
The minimum daily SIP period is one month. In case the end date is not mentioned, the mutual fund will continue the SIP till the time it has not received a termination notice from the investor or till the time instructions given in the SIP Registration Form, whichever is earlier. In case the SIP date is a non-business working day, the SIP gets processed on the next business working day.
The process to complete the daily mutual fund SIP registration is the same as of monthly or quarterly SIP registration. Investors need to fill the SIP registration form along with NACH form and then submit it at the mutual fund office or to any official point of acceptance or to the registrar
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