{"id":21089,"date":"2021-07-26T09:21:41","date_gmt":"2021-07-26T09:21:41","guid":{"rendered":"https:\/\/www.tatacapital.com\/blog\/?p=21089"},"modified":"2023-12-05T10:57:33","modified_gmt":"2023-12-05T10:57:33","slug":"how-to-top-up-your-sip","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/moneyfy\/sip\/how-to-top-up-your-sip\/","title":{"rendered":"How to Top up Your SIP?"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Say, you start investing in a Systematic Investment Plan (SIP) every month to build a healthy retirement corpus. To your delight, you get a decent salary hike or make some extra income and wish to invest the additional amount instead of spending it every month. Now, a conventional option would be to start a fresh Systematic Investment Plan.<\/p>\n\n\n\n<p>Thankfully, top-up or step-up facilities are available to let you increase your investment contribution with an increase in income. This way, you can fully leverage the power of the compounding effect.<\/p>\n\n\n\n<p>Wondering how to increase SIP amount in <a href=\"https:\/\/www.tatacapital.com\/moneyfy\/home\">mutual funds<\/a>? Keep reading.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>First, consider a few important things<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The top-up amount is predefined over a fixed period. As defined by your scheme, it could either be a percentage of the existing amount or multiples of a minimum amount.<\/li><li>The frequency cap is typically half-yearly or yearly.<\/li><li>You can set the upper limit for top-up capping, either in terms of the month, year, or amount, after which the top-up facility will stop.<\/li><li>Once you sign up for this facility, there\u2019s no turning back. If, down the line, you cannot afford to pay the periodic increases, the only option is to cancel the plan and start afresh.<\/li><\/ul>\n\n\n\n<p style=\"color:#FF0000\"><strong>Additional Read: <\/strong><a href=\"https:\/\/www.tatacapital.com\/blog\/investments\/why-are-sips-an-ideal-choice-for-the-first-time-investor\/\">Why are SIPs an Ideal Choice for the First-time Investor?<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Here\u2019s how to increase mutual fund SIP amount<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>First, check with your mutual fund house if it offers a mutual fund top-up facility.<\/li><li>Do remember that a lot of mutual fund houses grant you the option of a top-up at the time of opening a new SIP. So, in case you don\u2019t get such an option midway, you can start a new scheme and apply for a top-up before you pay your first instalment.<\/li><li>All mutual fund houses have a standard application form and an SIP form. In the latter, fill in your basic scheme details and opt for a top-up option found at the bottom of the page.<\/li><li>You must also give an application to your bank asking them to transfer the increased amount to the mutual fund house, in case you had opted for payment automation.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A few tips to keep in mind<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>The top-up facility works best when you use it to build allocation for a preferred asset class over time. This way, you can reach your desired asset allocation levels quickly and without any cost of acquisition of mutual fundunits.<\/li><li>Avoid using the top-up facility as a tactical strategy to gain from falls in the equity market. The strategy may not work efficiently as a top-up is allowed once every six months or a year, depending upon the mutual fund.<\/li><\/ul>\n\n\n\n<p style=\"color:#FF0000\"><strong>Additional Read: <\/strong><a href=\"https:\/\/www.tatacapital.com\/blog\/investments\/timed-lump-sums-vs-sips-what-works-better\/\">Timed lump sums vs SIPs: What works better?<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Bottom Line<\/strong><\/h3>\n\n\n\n<p>Want to explore mutual funds that match your custom investment goals? Browse through Tata Capital\u2019s <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.tatacapital.moneyfy&amp;hl=en\">Moneyfy app<\/a>! You can use the MF scanner to pick your investment type, get a detailed comparison of mutual funds, and choose those that align with your investment objectives, risk profile, and other requirements. Take the effortless route to MF investing today.<\/p>\n\n\n\n<div class=\"wp-block-group alignwide\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.tatacapital.moneyfy&amp;hl=en\">Download Moneyfy App<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Say, you start investing in a Systematic Investment Plan (SIP) every month to build a healthy retirement corpus. <\/p>\n<p><a href=\"https:\/\/www.tatacapital.com\/blog\/investments\/how-to-top-up-your-sip\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":21090,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[77],"tags":[],"class_list":["post-21089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sip"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Guide on How to Top up SIP - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Topping up your SIP has various advantages. Want to know what is SIP Top Up and how does it work? Explore our detailed guide on how to top up SIP. Know more!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Guide on How to Top up SIP - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Topping up your SIP has various advantages. Want to know what is SIP Top Up and how does it work? Explore our detailed guide on how to top up SIP. Know more!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tata-blog.osian.dev\/moneyfy\/sip\/how-to-top-up-your-sip\/\" \/>\n<meta property=\"og:site_name\" content=\"Moneyfy Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-26T09:21:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-05T10:57:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapitalmoneyfy.com\/blog\/wp-content\/uploads\/2021\/07\/03-top-up-your-sip.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tata-blog.osian.dev\/moneyfy\/sip\/how-to-top-up-your-sip\/\",\"url\":\"https:\/\/tata-blog.osian.dev\/moneyfy\/sip\/how-to-top-up-your-sip\/\",\"name\":\"A Guide on How to Top up SIP - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2021-07-26T09:21:41+00:00\",\"dateModified\":\"2023-12-05T10:57:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/0485591fd960aaa01211ff62d7d5faab\"},\"description\":\"Topping up your SIP has various advantages. 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