HDFC SIP Cancellation - How to Stop SIP in HDFC

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We start investing in a mutual fund systematic investment plan to accumulate wealth within a select time horizon; usually 5 years or more. HDFC Securities has a range of mutual fund plans to meet everyone's needs. And the company provides its clients completely online platform to buy and sell schemes on the go. Today, I will be taking you through how to stop SIP in HDFC.

For HDFC SIP cancellation, you don't need to go anywhere. You can simply follow the instructions given below to stop your SIP in HDFC Securities.

Life is a roller-coaster ride and sometimes unforeseen expenses may force us change our plans. If you're too going through hard time and due to that you would like to opt HDFC SIP cancellation option then it is okay. Once everything comes to normal you can restart it.

Another valid reason for stopping SIP in HDFC, in my opinion, would be you have chosen a wrong mutual fund scheme which does not meet your financial goals.

There is also third reason for which most of the investors stop their systematic investment plan. That reason is they are not getting expected returns within the first few years. This is the most illogical reason.

Look you cannot expect good returns in mutual funds within the first few years because these are meant for long term investment, ideally 15-20 years. In mutual fund, you accumulate wealth with the help of compounding. But if you stop your investment within the first 2-3 years then you don't receive the actual benefits.

How to Stop SIP in HDFC

Before you follow the steps, I would like to tell you that you have three options:

  • First option is you can opt HDFC mutual fund cancellation and also withdraw the amount that you have invested by selling your mutual fund portfolio.
  • Second option, recommended, is you can take advantage of HDFC mutual fund switch option which enables you move from one mutual fund scheme to another without selling your mutual fund units. This option is strongly recommended if you think your mutual fund scheme is not right for you.
  • Third option is you can stop SIP in HDFC without closing your HDFC mutual fund portfolio account. It means you can stop future SIPs but can keep the already investment amount in your HDFC mutual fund account.

I have already showed you how to sell HDFC mutual fund units and switch from one scheme to another without selling your existing mutual fund units. In this post, I will be explaining how you can opt HDFC mutual fund SIP cancellation for future SIPs without redeeming your existing mutual fund units.

Watch this video to know how to cancel HDFC mutual SIP. It is very easy and only takes 5 minutes.

Read: How to invest in share market?

HDFC SIP cancellation

If you would like to stop HDFC mutual fund SIP without selling your already invested amount then follow the steps to stop your SIP in HDFC Securities:

HDFC SIP Cancellation Online
  • First of all, you will need to register on official HDFC mutual fund website. For that purpose, watch this video (I have explained in detail how to register on HDFC Securities website).
  • Once you are registered, login to your online mutual fund account and click on Dashboard.
  • Move your mouse cursor on Dashboard icon showing in the sidebar and click on Systematic-Corner.
  • Click on Transact under Action and select Cancel.
  • Now cautiously press Confirm button to stop HDFC mutual fund SIP.
  • That is it. You have successfully stopped your systematic investment plan's future payments. Now your SIP will not be deducted from your bank account.

Kindly read other post if you would also like to redeem your mutual fund portfolio (link is available in the beginning).