Are you investing in an SBI Mutual Fund but facing a temporary financial crunch? Or maybe you just want to redirect your cash flow for a few months? Whatever your reason, you don’t need to permanently cancel your investment. You can easily pause your SIP installments online.
In this guide, we will show you exactly how to pause SBI mutual fund SIP installments online using the official SBIMF mobile app, InvesTap.
Why Choose "Pause" Instead of Canceling Your SIP?
Canceling a Systematic Investment Plan (SIP) means you have to go through the hassle of setting up a new mandate all over again when you are ready to reinvest.
By using the SBI Mutual Fund SIP pause feature, your investment remains active, your accumulated wealth continues to grow, and your monthly deductions will automatically resume after your chosen break period.
Prerequisites Before You Begin
Before following the steps below, make sure you have:
1. The SBIMF InvesTap app installed on your smartphone.
2. Your login credentials (User ID and Password/PIN).
3. Your registered mobile number or email handy for notifications.
Step-by-Step Guide to Pause SBI SIP Online via InvesTap App
Follow these simple steps to pause your active SBI mutual fund installments:
Step 1: Log In to the App
Open the SBIMF InvesTap mobile app on your device and log in using your credentials or biometric authentication.
Step 2: Navigate to the Dashboard
Once logged in, your current portfolio value will display on the screen. Tap on the "Go to Dashboard" option located on the top bar of the page.
Step 3: Access Your Portfolio
On your dashboard, tap the three-line menu (hamburger icon) in the top-left corner. From the drop-down menu that appears, click on "Portfolio".
Step 4: Select Your Mutual Fund Scheme
Scroll down your portfolio page to see a list of your invested schemes. Click on the specific SBI mutual fund scheme for which you want to pause the installments.
Step 5: Open Fund Details
Your selected fund's details will appear on the screen. Tap on the scheme name once again to drill down into the transaction settings.
Step 6: Locate Your Active SIP
Scroll past the NAV details at the top of the page until you see your Active Systematic Plans. Find your next SIP installment date and click on the three-dot menu right next to it.
Step 7: Select "Pause SIP"
A pop-up window will appear with multiple options. Select and click on "Pause SIP".
Step 8: Choose the Pause Tenure
On this page, select the tenure (number of months) for which you want to pause your SIP installments.
Step 9: Verify Dates and Confirm
Once you select the tenure, the app will automatically display your Pause Starting Date and the SIP Restart Date. Review these carefully, then click the "Pause SIP" button at the bottom of the page.
Step 10: Successful Registration
A confirmation message will appear on your screen stating, "Your request is registered."
Note: Within a few hours, you will receive an official confirmation SMS and email on your registered contact details confirming that your SBI SIP installment has been successfully paused.
Frequently Asked Questions (FAQs)
1. How many months can I pause my SBI SIP?
Generally, SBI Mutual Fund allows you to pause your SIP installments for a minimum of 1 month up to a maximum of 3 to 6 months, depending on the specific fund mandate.
2. Are there any charges for pausing an SBI Mutual Fund SIP?
No, pausing your SIP via the SBIMF InvesTap app or website is completely free of charge.
3. How many days in advance should I submit the pause request?
It is highly recommended to submit your SIP pause request at least 10 to 15 days before your next scheduled deduction date to ensure the bank mandate is stopped in time.
4. Will my bank charge me if I pause the SIP?
No. Because you are pausing the SIP officially through the mutual fund house, your bank will not attempt a debit, meaning you will not face any ECS bounce or bank penalty charges.
Conclusion
Pausing your SBI Mutual Fund SIP online is a quick, seamless process that helps you manage your monthly budget without hurting your long-term financial goals. Give yourself the financial breathing room you need, and your investments will pick up right where you left off!
Disclaimer: Mutual Fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
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