Cancel Your Groww Mutual Fund SIP Subscription
Groww is a popular Indian online investment platform. A Systematic Investment Plan (SIP) allows users to invest a fixed amount of money into mutual funds at regular intervals, typically monthly.
How to Cancel Groww Mutual Fund SIP Subscription
Follow the step-by-step instructions based on your device/platform.
Groww App
- 1On your home screen, navigate to the 'Mutual Funds' section.
- 2Select the 'SIPs' tab at the top of the screen.
- 3From the list, choose the specific SIP you want to cancel.
- 4Click on 'Cancel SIP', which is usually in the top right corner.
- 5Select a reason for the cancellation from the options provided.
- 6Confirm the action by clicking 'Cancel SIP' one more time.
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Your Existing Investments Are 100% Safe
CRITICAL: Stopping your SIP only stops future monthly payments. The mutual fund units you have already purchased remain securely in your portfolio and will continue to grow or fall with the market. You are NOT selling your investments.
There Are No Penalties for Stopping a SIP
VERY IMPORTANT: Groww does not charge any penalty, fee, or exit load for cancelling a SIP. You can stop and restart your SIPs at any time without any financial loss. It is a completely free and flexible feature.
Understand the Cut-Off Time to Avoid the Next Deduction
To ensure your next SIP installment is not deducted, you must cancel the SIP at least 2-3 business days before the scheduled payment date. The cancellation needs time to be processed by the bank and the mutual fund house.
Consider Pausing Instead of Cancelling
If you have a temporary cash-flow issue and plan to resume investing soon, Groww offers a 'Pause SIP' feature. This allows you to skip payments for a few months without cancelling the SIP entirely, making it easy to restart.
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Are there penalties on SIP cancellation?
No penalties, and you can start again anytime.
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