Hi All,
I plan to invest in some equity schemes on SIP basis. My question is how long I need to make payments. Is it possible to exit the scheme and withdraw the money at any time. How do I do that? Thanks in advance
Ramesh K
First question : How long I need to make payments?
Answer : dear it depends on you.....your plan of saving....say 1, 1 1/2, 2, ....
in multiples of 6 (months)....You can stop SIP at any time......simply by giving a letter to stop the further SIPs to the AMC... Minimum SIP payment period is 6 months
But if invested for a long period say 3 years you can get maximum benefits..just for a period of 6 months...you wont get much benefits.....
Second question : Is it possible to exit at any time?
Answer : Yes. But some AMCs have minimum period of 6 months...ie you cant withdraw before 6 months and if withdrawn then you have to pay exit load
Hope this helps you...if not can ask for more..
have a nice day
JB