Are you investing in an Axis Mutual Fund through a Systematic Investment Plan (SIP) but facing a temporary financial crunch? If you cannot pay your upcoming SIP instalments for a few months, you might be thinking about cancelling your SIP altogether.
Stop right there! Cancelling your SIP permanently disrupts the power of compounding and breaks your long-term financial goals. Instead of cancelling, the smart move is to pause your Axis Mutual Fund SIP online.
In this article, we will show you the exact, step-by-step process to temporarily halt your Axis Mutual Fund SIP instalments using your mobile phone and resume them automatically later.
Why You Should Pause Your SIP Instead of Cancelling It
When you cancel a SIP, restarting it requires setting up a new mandate, which involves additional paperwork and time. However, pausing your SIP gives you the following benefits:
(a) Saves Compounding: Your existing investments continue to grow in the market.
(b) Temporary Relief: You can stop your instalments for up to 6 months to manage your cash flow.
(c) Hassle-Free Auto-Resume: The SIP automatically restarts once the pause period ends no extra setup required.
Step-by-Step Guide to Pause Axis Mutual Fund SIP Online
Follow these simple steps on the Axis Mutual Fund mobile application to temporarily pause your active SIP:
Step 1: Log In to the App
Open the Axis Mutual Fund Mobile App on your smartphone and log in securely using your MPIN or biometric credentials.
Step 2: Open the Main Menu
Once logged in, you will see your dashboard displaying your total investment value and current portfolio value. In the top-left corner of the screen, tap on the Three-Line Menu Button (Hamburger Menu).
Step 3: Go to "My SIPs and More"
A sidebar menu with various options will appear on your screen. Look for the link that says "My SIPs and More" and click on it.
Step 4: Select Your SIP
You will now be redirected to the SIP management page where all your active SIPs are listed. Underneath each active SIP, you will find a "Pause SIP" button. Click on this button for the specific mutual fund scheme you want to pause.
Step 5: Choose the Pause Tenure & Confirm
A pop-up window will appear asking you to select the duration for which you want to stop the instalments.
* Note: You can pause your Axis Mutual Fund SIP for a maximum of 6 months at a time.
Select your preferred pausing tenure. Once selected, the screen will display the exact pausing period and the SIP resume date. Review these details carefully and click on "Confirm".
Step 6: Enter the OTP Verification
For security purposes, a One-Time Password (OTP) will be sent to your registered mobile number and email ID. Enter the OTP in the designated field and click on "Continue".
Step 7: Confirmation Success
A success message reading "SIP paused successfully" will appear on your screen. You will also receive an official confirmation email containing the pause duration details.
Key Points to Remember Before Pausing Your SIP
(a) Processing Time: While the app states it can take up to 10 days to process the request, in most cases, you will receive a confirmation message within 1 to 2 days.
(b) Advance Request: To avoid the auto-debit for the upcoming month, it is highly recommended to submit your pause request at least 10–15 days before your next SIP due date.
Conclusion
Pausing your Axis Mutual Fund SIP online is a quick, seamless, and financially smart way to manage temporary money shortages without harming your long-term wealth creation. Whenever you face a budget tight-spot, just follow these 7 simple steps instead of closing your investment account.
If you found this tutorial helpful, feel free to share it with your friends and fellow investors. Do you have any questions regarding Axis Mutual Fund online services? Let us know in the comments below!
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