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How to Increase your SIP Investment Amount

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The existing investment in the SIP can be cancelled and replaced by an SIP of a higher amount

INVESTORS need to be ready to deal with situations that demand changes in their investment profiles. Systematic investments plans (SIPs) are not above such needs.

Changing needs for SIP:

One starts an SIP to make sure that some sort of regular investment is made into mutual funds over a certain period of time. The idea is to see that there is an averaging out of the investment cost and one benefits from the ups and downs in the price of the asset one is buying. So, when you start an SIP there is a fixed amount that's invested each month and this remains constant over the period for which the SIP is set. Now, what do you do if some unforeseen circumstance demands a change in the amount supposed to be invested? But can it be done? If yes, how? Amount invested: One important feature of an SIP is that the amount with which this is started can not be changed in the existing structure. This means if you are making an investment of Rs 10,000 a month in a particular area then this would have to continue for the time period fixed for this purpose.

In between, if you want to raise the figure to Rs 12,000, it won't be permitted under existing rules.

This is why the investor has to be careful at the time of making the investment. He must be careful while deciding how much he would pay in each month. No change will be allowed because either post-dated cheques have been given for this purpose or ECS instructions have been issued for the original amount. Change in procedure: An existing SIP cannot be changed, but it doesn't necessarily mean that the investor cannot actually do anything about the money he wants to invest each month. In fact, there are ways in which he can increase the investment amount if he so wants. The existing investment in the SIP can be cancelled and can be replaced by an SIP of a higher amount. This is one way how an individual can ensure that he is actually getting what he wants by just changing the instructions related to the investment.

The other way in which he can achieve the same goal is by starting an additional SIP for the extra amount. This will continue along with the current SIP. However, this can result in a situation involving additional activity, simply because one is running two SIPs with different time periods. After a period of time they can be aligned and the situation would then consist of a single investment of the required amount. This is another way in which the overall situation remains largely unchanged and the

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