Setting up Stock SIPs involves 3 simple steps:

Creating a Stock SIP Order → Setting up Autopay → Paying the first instalment

Here’s a how-to for each of the steps:

Creating a Stock SIP Order

Step 1: Log into your Upstox account.

Step 2: Head to the ‘Orders’ tab and go to SIP section.

Step 3: Tap on ‘Create SIP’ and give it a name.

Step 4: Select the SIP frequency between Weekly or Monthly.

Step 5: Select the day (for Weekly) or the date (for Monthly) for your next SIP.

Step 6: Click on ‘+Add’ to add Stocks to your SIP Order (up to 20 Stocks).

Step 7: Select the quantities for each Stock.

Step 8: Click on ‘Create SIP’ and verify the details and click on Confirm SIP.

Step 9: Select the Autopay mandate or ‘Setup a new Autopay’.

Step 10: Click on ‘Create SIP’.

Note: You can create a maximum of 50 Stock SIP Orders, each with up to 20 Stocks.

Setting up Autopay

To set up an Autopay, you need to create a bank mandate as per the below steps:

Step 1: Head to the SIP order you created.

Step 2: Click on the SIP mentioning Autopay pending.

Step 3: Click on ‘Set up Autopay’.

Step 4: Select the payment method:

• UPI for up to ₹15,000
• Net Banking for up to ₹2,00,000

Step 5: Click on continue and you’ll be redirected to the UPI app or the Net Banking page.

Step 6: Approve the mandate and you are done.

Ensure that you have sufficient funds in your bank account for your SIP payments. If there’s insufficient balance in the case of Net Banking, you might have to pay bank charges.

Paying the first instalment

After setting up the Autopay, you can pay the 1st instalment for your SIP Order and automate the process for future investments.

Additional Notes:

• Your SIP Order will be created even if you don't set up an Autopay or pay the first instalment.
• After setting up the mandate, you'll receive a notification before any SIP is executed to confirm the approximate amount.
• Autopay is a great way to be a consistent investor in the Stocks of your choice.
• Paying the first instalment ensures that you take the first step in your investment journey.