With effect from 20 January 2011
HDFC Mutual Fund has decided to introduce SIP Top-up facility under
Systematic Investment Plan (SIP) investments for the benefit of the
unitholders. This facility will be available with effect from 20 January
2011.
The terms and conditions of SIP Top-up facility are as follows:
SIP Top-up is a facility wherein an investor who has enrolled for SIP,
has an option to increase the amount of the SIP installment by a fixed
amount at pre-defined intervals. This will enhance the flexibility of
the investor to invest higher amounts during the tenure of the SIP.
All schemes offering SIP facility shall be eligible to offer SIP Top-up facility.
SIP Top-up facility shall be available for SIP investments through ECS
(Debit Clearing) / Direct Debit Facility / Standing Instruction only.
The Top-up amount should be in multiples of Rs 500 only.
Monthly SIP offers Top-up frequency at half yearly and yearly intervals.
Quarterly SIP offers Top-up frequency at yearly intervals only.
In case
the Top-up frequency is not indicated under Monthly SIP, it will be
considered as yearly intervals.