Missed ECS for Reliance SIP, will it discontinue my Policy?

Question

Have applied for Reliance SIp in the month of May. Cleared ECS regularly for June and July, but cudn;'t manage for August.

Will they cancel my policy or continue from next monht. havn't got any response from them yet. Thanks

Answer 1

There will be relaxation for 3 months.  After 3 months they cancell the SIP.  For more detials log on to www.indianmutualfunds.page.tl

Answer 2

They will try again after a period of time. there is three time they will try and if they are not getting money, then they will close this

Answer 3

No, It will not be cancelled. But if you miss it for three consecutive dates then they may send a letter informing about cancellation of the arrangement. Your bank may charge a sum for cancellation (just like bounced cheque). Pvt sector banks charge a hefty amount. So be careful next time. If you are not able to deposit the amount by the current SIP date you may even change your SIP date.

Keep SIPping

good luck !!