I have registered an SIP with auto debit. I wish to change the bank from which the amount is being debited as very recently i have changed my job, so now i want to switch my sip to my new salary bank account. Is this possible?
1. You are cancelling your existing sip and registering new sip in the same mutual fund scheme.
2. For making changes you need to use "SIP Auto Debit/ ECS Form" and in that form click the option for change in bank details.
- Copy of Bank Statement of recent 3 months, or,
- Copy of Bank pass book containing account number , account holder’s name & address.
6. It will take approximately 30 days to effect the change, and for debits to go to the new bank. The reverse of the SIP auto-debit form contains instructions on the requirements to change the auto-debit bank.