In this type, you have the choice to set a quantity or number of shares that are to be bought at the set frequency for the set duration. The order value is calculated based on the market price of the share prevailing in the market at the time of order placement.

On ICICI Direct App:

In this transaction, every month 1 share of RELAINCE will be bought for 3 years beginning from 15^th June 2024.

On Website:

In this type, the you have the choice to set a quantity or number of shares that are to be bought at the set frequency for the set duration. The order value is calculated based on the market price of the share prevailing in the market at the time of order placement.

In this transaction, every month 2 shares of ITC will be bought for 18 months beginning from 17^th June 2023.

In an event where the funds available to purchase the set quantity are less than what is required, the trade for that frequency will not take place and only continue for the next frequency if enough funds are made available then.

For example, Mr. A has a SIP for ITC where on 15^th of each month 10 shares are bought. On June 15^th he has insufficient balance and therefore no trade takes place. Even if he adds more funds by June 16^th no trade will be executed for this frequency and a trade will take place directly on 15^th July if sufficient funds are available.

Date Related

Before the cut off time, any date can be chosen as the start sate however the start date cannot be chosen as T-day (transaction day) after the cut off time. Any day after the T-day can be chosen as the start day in that case.

If any Stock SIP trigger date falls on a trading holiday, then the Stock SIP trigger will take place on the next trading day.