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How to fill Mutual Funds SIP Form?

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Many investors make the mistake of signing a mutual fund Systematic Investment Plan (SIP) form without reading the whole and understanding the relevant points mentioned. We just ask the advisor one question – where do I need to sign? Simply signing the form will only complete the formalities, however, it will not help you understand where your money is being invested. However, an aware investor should always be aware of how the fund will deal with our money.

Here are 5 important points which one should know while signing their SIP form:

Applicant's Information: The first thing you need to check is your name which should be entered correctly. You also have the option to enter second and third applicant's name. Most importantly, you should enter your mobile number and e-mail ID correctly. This helps the AMC in sending you updates related to your investments details from time to time. However, investors should be KYC compliant before making an investment. If you have not got your KYC done, you should get it updated first.

Investment Details: This is the most important section which should not be left unread. You should know the following investment details:

Scheme Name: Know the fund house where you are going to invest your money and after that the scheme name where your money is actually going to be pooled in. While knowing the scheme, you get to know the scheme category which helps you in identifying the risk and returns associated with that particular scheme.

Plan option: There are three options for you to select while routing your money through SIP mode. As per your choice, you can select – Growth option which helps in appreciating your capital over a period of time. Second is Dividend option which helps you get regular payouts from the scheme and the third is Dividend re-investment option where instead of taking the payouts in hand, you can reinvest the same in that particular scheme.

SIP Frequency: It's a myth or lack of knowledge that SIP's can be done only on monthly basis. You can ideally do MF-SIP investment on quarterly, weekly, half-yearly or even on an annual basis.

SIP Date: Your SIP investment amount will get deducted from the bank as the date you will select while filling up the form.  You may select any one date from a range available. Once you select the date, your investment amount gets automatically deducted every month (or in any frequency) on that particular date. Therefore, choose the date wisely and maintain minimum SIP amount in your bank on that particular date so that you may lose out any of the deduction any month.

SIP Period: For how long you want to continue your SIP? By selecting the number of years, you can continue your SIP till that date. No deduction will be made further from the bank once the tenure of SIP gets over. However, your money remains invested and you will still earn compounding interest over the years till the time you will not exit from the scheme. Make sure as per the time horizon of your financial goals, you should be able to continue your SIP without any break.

Bank account detail for the debit mandate: You need to link your bank account with the AMC (Asset Management Company) so that your monthly investment amount get automatically deducted from the bank through ECS (Electronic Clearing Service) mode. Therefore, before giving details of the bank make sure you will be able to maintain a minimum balance in that account and keep it in a running mode. However, banks detail can be changed anytime as when the investor requires doing so.

DEMAT Details: Mention the details correctly in the form. However, it not a mandatory to have a DEMAT account. You can directly invest through any AMC or a broker/agent. If you have a DEMAT account you can get your SIP linked to it and get an easy access to view the details of your scheme anytime. In such case, you do not have to request a broker or an agent to send you your investment details whenever required.

Declaration and Signature: Once you have thoroughly gone through all the details and took concerned advice from your financial adviser, you can then sign the form and submit it to the AMC for final processing of your investments.



SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds

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