Hi Vaibhav,
There are 2 ways in which the AMC accepts the investments. One is Lumpsum and the other is SIP.
The lumpsum consists of 2 fields, first is the ‘ Initial minimum investment amount ‘ and second is ‘ Minimum additional purchase amount ‘.
When you wish to invest via SIP, then you need to register for it via a ECS/NACH mandate form wherein the amount is always debited from your bank account on some specific dates.
Now, we have made a custom SIP where the installment amount is actually the ‘ Minimum additional purchase ‘ which is a part of Lumpsum investment. This is the reason you have the flexibility to modify/pause/delete your SIP and the amount is debited from your trading account.
In the conventional SIP, if you wish to modify the amount then again a new physical request form has to be submitted to the AMC. Also, if at any point of time there is less balance in your bank account on the day the installment amount has to be debited, then the bank will penalize you. But, in our case you will just receive a notification saying that your order has failed due to insufficient balance. Then, you can just open the fund page and place a order again for the same amount after you have transferred the money on any day.
Unfortunately, Mirae Asset has stopped the investment via Lumpsum so we do not show the fund on our platform.