How to Change SIP Amount in Groww?

Change SIP Amount in Groww

Friends, if you invest in the stock market, you’re probably aware that if you open a Demat account with a broker named Groww, you can get a lot of benefits from the same Demat account as this platform charges very low for trading in the stock market.

However, many people in India have very low awareness of the stock market and are therefore hesitant to invest their money in the same market. 

But with this you should also know very well that there are many people in India who do not have much knowledge about the stock market, in spite of this, all those people believe in someone’s talk and invest their valuable money. And eventually, they have to lose their money a maximum of times.

If you are a person who is not so familiar with the stock market then always keep in mind that you should never invest your money directly in the share market based on what other people are saying.

Instead of directly investing your money in the stock market, why you can do is that you can start your investment journey with the help of mutual funds.

Groww Mutaul Fund SIP

SIP means Systematic Investment Planning. Whenever you start investing in mutual funds, then you must keep in mind that you must have not invested all your money in one fund at the same time.

Groww’s platform gives you the facility of SIP to invest in mutual funds, with the help of which you can easily invest your money in mutual funds every month according to your ability to invest.

We all know that our income as Indians is never steady for extended periods of time because we can earn a lot of money one month and then earn less in the next, and therefore our income fluctuates.

In this circumstance, you can invest your money in mutual funds according to your convenience using SIP.

Now If we talk about the Groww application, which, as we previously stated that this leading stock broker allows you to easily invest your money in the stock market, mutual funds and it also provides you a facility to track the progress of your investments.

If you have already started investing in Groww’s application and now want to change your SIP amount and SIP date then you are at the right place because we have given all the information about the same thing in detail in this article. 

Change SIP Amount in Groww

Step 1: Login into your Mutual Funds account using Groww’s application.

Step 2: Go to my accounts.

Step 3: Click on All SIPs.

(Here you will be shown whole lists of SIPs in which you are investing.)

Step 4: Click on SIP you want to change your invested amount.

Step 5: Click on Edit SIP

(If your application is not showing the option of Edit SIP then you have to update your application from the Google Playstore.)

Step 6: Edit amount and date

(when you actually click on the Edit SIP option then the application will show you two options, one is edit amount and date, on which you have to click in order to change your amount and the second one is skip installment. If you really want to skip your installment for the next month then you can click on this option.)

Step 7: Enter a new amount and new date according to your convenience.

Step 8: Click on confirm and submit the same in the application.

Important Note

Whenever you select the option of Edit SIP in Groww’s application then through this application then this SIP is application is also providing with the option close the monthly automatic deposit and with the help of this, you can invest according to your own by disabling the option of automatic investment from your bank account.

Along with this, whenever you select an option named Edit SIP, then at that time you are also provided with the option of Cancel SIP.

If in any case, you are unable to pay your SIP investment from next month, then you can very easily close your SIP by clicking on the option named “Cancel my SIP” shown on the top of this webpage.

One thing here you would like to mention is that whenever close the SIP, then only your SIP gets closed and all the money you have invested so far remains invested in mutual funds and you can also withdraw it very easily whenever you want.

Final Conclusion on Change SIP Amount in Groww

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