With the "Pause SIP" feature, clients can pause their SIP if they have a financial emergency instead of cancelling it.
The SIP will automatically continue after the pause interval.
Please Note:
- Depending on the scheme, SIP pause facility can be availed a maximum of two times during the entire SIP life span and can be paused upto a maximum of 3 months
- SIP pause request should be raised at least 5 working days before the next installment.
- SIP once paused, cannot be cancelled, unpaused or modified during the pause period.
Pausing SIP on web:
1. Go the client Page in Clients on web dashboard, and click on pause next to the scheme you want to pause
2. Enter the number of installments to pause:
3. Request will go through to the client to approve from his end.
Note : Most SIPs have a maximum limit of 3 months, while a few have 1 month and 2 month as well. Accordingly, if you fall within the limit, pause SIP request will go through otherwise you will receive an error message.
Pausing SIP on App:
1. Open the Systematic investments on your app, and navigate to the SIPs. Click on Pause
2. Enter the number of installments to pause
3. Request will go through to the client to approve from his end
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You can view the pause status on clicking the 'PAUSED' button here:
Note :
Most SIPs have a maximum limit of 3 months, while a few have 1 month and 2 months as well. Accordingly, if you fall within the limit, the pause SIP request will go through; otherwise, you will receive an error message.