A Stock SIP (Systematic Investment Plan) is a disciplined way to invest in stocks. It allows you to either invest a fixed amount or buy a fixed quantity of a stock at regular intervals (weekly or monthly). Think of it as subscribing to a stock, similar to a subscription for an OTT platform.

Steps to Set Up a Stock SIP:

Step 1: Choose a Stock.

• Click on the stock you wish to buy.

Step 2: Select the SIP Option.

• Tap on the ‘Buy’ button.

• The default order type will be ‘Market’. Click on the dropdown menu and change the order type from ‘Market’ to ‘SIP’.

Step 3: Set the Frequency.

• Select how often you’d like to invest—either weekly or monthly.

• Choose the specific day for the SIP to recur.

Step 4: Specify Amount or Quantity.

Decide if you want the SIP to be based on:

• A fixed amount: Enter the amount you wish to invest.
• A fixed quantity: Enter the number of shares you want to purchase.

Things to Keep in Mind:

• Immediate Execution: Your first Stock SIP order will be placed on the same day you set it up.

• Future Orders: Subsequent SIP orders will follow the schedule you selected.

• Market Hours: If the market is closed when you set up the Stock SIP, the order will be executed as soon as the market opens next.

Start your Stock SIP today to build wealth systematically over time! Let us know if you have further questions.