When and How to Pause or Stop a Mutual Fund SIP?
How to pause or stop a MUTUAL FUND SIP?
How to Pause or Stop a Mutual Fund SIP: In today’s post, you will know how to pause or stop Mutual Fund SIP, and also you will know when and under what circumstances you should temporarily stop Mutual Fund SIP or stop it permanently or not.
MUTUAL FUND SIP PAUSE OR NEED TO CLOSE
Generally, the investment made through Mutual Fund SIP is considered a long-term investment, in which the fixed amount of Mutual Fund SIP investment is deducted from our account every month,
But many times due to different personal reasons like – job loss, increase in expenses, or getting trapped in any other financial problems, a person wants that – the amount of Mutual Fund SIP is being automatically deducted every month, that Do not cut, either Mutual Fund SIP Pause (temporarily closed for some time like – 6 months 9 months 1 year) should be stopped or under some circumstances, the person wants Mutual Fund SIP further be closed forever
So in both these circumstances, if you have decided, then you can temporarily close or permanently close your Mutual Fund SIP –
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Should you STOP Mutual Fund SIP or not?
By investing through Mutual Fund SIP, you are creating a fund for your future, so in my opinion, you should decide to stop or stop Mutual Fund SIP very carefully…
And in most cases, you should not stop it at all because your expenses have increased, or you have lost your job for some time, If the expenses have increased, then you should focus on controlling your expenses immediately, and if there is a job problem, then you should look for another job soon.. and not think about stopping the SIP.. because By stopping or closing the Mutual Fund SIP, you are putting your future at stake, and reducing the money you are going to get in the future from the Mutual Fund SIP….
And if you are closing the old Mutual Fund SIP because you are going to start another Mutual Fund SIP, then also you should do so after thinking….
So I hope you will keep these things in mind before closing Mutual Fund SIP.
If you want to close Mutual Fund SIP finally, then how can you do it –
MUTUAL FUND SIP PAUSE or STOP process
Whenever you start SIP i.e. (Systematic Investment Plan) investment in a Mutual Fund, then we have to choose some options while filling out the form of Mutual Fund SIP, like – for how long do you want to do a Mutual Fund SIP,
And in such a situation we generally have two options –
The first option is till a fixed time period (like January 2019 to December 2025), where we tell when this Mutual Fund SIP will start and when it will end, So if you have selected this type of date, then your money in this Mutual Fund SIP will go till the last date which you have selected.
And there is another option – until you cancel –
So if you have chosen the second option, then you can use the following methods to pause or stop this Mutual Fund SIP:
Conversation with the Customer Care of the Mutual Fund company –
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Note that – To make such changes to Mutual Fund SIP Pause or Stop, all mutual fund companies have their own terms and conditions, so whichever company you have a mutual fund with, you are the first customer of that Mutual Fund company.
Call care and ask your questions, and they can guide you well about what process you have to follow to pause or stop your Mutual Fund SIP…
(Note that – All mutual fund companies give the option to stop Mutual Fund SIP, but not all mutual fund companies give the option to pause or stop Mutual Fund SIP for some time, so you should consult your mutual fund about this. Must talk to the customer care of the fund company)
Now…the other option is –
The offline process goes to the office of the Mutual Fund company
If you want, go to the nearest office of a Mutual Fund company, and after getting information about it there, if they give you a form to pause or stop Mutual Fund SIP, then fill that form and submit it… Like you can pause or stop your Mutual Fund SIP…
And the third option is –
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Online Process Mutual Fund Company Website or Mobile Application
If you talk to the customer care of the offline process Mutual Fund company, and if they tell you that you can pause or stop the Mutual Fund SIP online also through the website or mobile application of the Mutual Fund company, then you can simply Know the process from them, understanding that you can put a temporary stop on your mutual fund SIP for some time or you can close it,
I Hope, after reading this post, you will be able to understand how you can pause or stop Mutual Fund SIP and whether you should do so or not.
