I noticed there is a new Auto step up feature added in Coin web/app. Thanks for bringing this needed feature. Along with percentage step up ,would be good if absolute amount step up option is also provided. Also We are also looking forward to SWP/STP features thats been requested by a lot of users and pending for a long time. Can we expect this feature to rollout anytime soon?
@Bhuvan Can you.
A step-up is a % increase. The idea is that your investments keep pace with your salary increases, inflation etc. A flat-step would be sub-optimal because it will remain the same through which is why we didn’t want to add it. Moreover, it would just complicate things.
Yes, there were some regulatory overhangs that led this being on hold but this is on the to-do post the new Coin web revamp.
‘By x% every December 16’
so, will the step-up be applied every year on Dec’16?
Right. You can learn more about Step-Up SIP here.
any idea if auto step up will be enabled for AMC SIP.Currently i dont see any option for AMC SIP…Is there any workaround other than set up AMC SIP with increased amount every time?
Not possible for now. Some these funds have investment limits based on PAN etc, kinda makes it tricky to do this. And moreover, once they allow lumpsum, things will back to normal.
could you please tell me is there any option to step up my SIP Quarterly instead of Annually ?
We don’t have preset time frames. You can enter whatever date you want the SIP to be stepped up
that means i have to amend manually if i want a step up the SIPP on Quarterly basis ?
Yes, you can set whatever date you want.