How to Pay for SIP instalments on Groww
July 1, 2022, onwards Groww Balance cannot be used to pay for your mutual fund transactions, including SIP instalments. The amount will have to be deducted from your bank account directly.
Going forward, you can either setup an Autopay mandate that will directly debit the amount for your SIP instalment from your bank account or you can use the process listed below.
Here’s how you can pay for your SIP instalments going forward:
Step 1: Go to your Dashboard
After July 1, 2022, your existing SIP instalments for which money used to be deducted from your Groww Balance account, will show up in the ‘Pending SIP Payments’ section in your dashboard. The payment for them is not complete yet because Groww Balance can no more be used for SIP instalments.
Step 2: Pick any of your desired payment methods and head to the payment gateway to complete the payment.
