Need A Financial Product › Forums › Trading/Investments › Will my SIP bounce due to insufficient balance

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  • August 6, 2014 at 5:53 pm #46713
    samkapoor77
    Keymaster

    If I have Rs. 3,000 in my savings bank and the very next day, ECS for SIP in Direct Growth Option Plan of ICICI Prudential Focused bluechip equity for Rs. 6,000 is due. What will happen then? Will the SIP be bounced or will they use the available balance towards it and treat the balance as due?

    August 8, 2014 at 10:55 pm #46714
    samkapoor77
    Keymaster

    Due to insufficient balance in your account, your SIP will be bounced for this time. There are many fund AMCs that cancel your SIP if it bounces for 3 times over the SIP term or in one year.

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