FAQs

FAQs in English FAQs in Hindi

Equity Systematic Investment Plan (SIP)

• What is "Equity Systematic Investment Plan" (Equity SIP)?

  Equity SIP is a new facility offered through indiainfoline.com using which you can place buy orders for a prespecified amount or for a prespecified quantity in scrips of your choice at regular intervals over a period of time as selected by you. For instance, you can select an Equity SIP for a period of say 6 months to invest 3000 per month / other permitted frequency in shares of BHEL or alternatively you can choose to buy 1 shares of BHEL every month / other permitted frequency through Equity SIP.
  After you have provided the necessary details i.e the scrip, amount / quantity to be invested, frequency of investment, total time period and authorized India Infoline Limited (IIFL) vide your Equity SIP request, IIFL will place your Equity SIP buy orders at market price.

• Can all clients of India Infoline Limited avail Equity SIP facility?

  Yes. All online existing and new clients of India Infoline Limited can avail the Equity SIP facility.

• How can I invest through Equity SIP?

  To start investing through Equity SIP there are 2 options
  
  1. Through TT Web : You will have to follow 5 easy steps as mentioned below:
  

  • Login to your TT web trading account on https://ttweb.indiainfoline.com/trade/
  • Enter Client ID » Password » Product Equity » Submit
  • Click on the tab Market » Equity SIP
  • Fill in the required details, accept the Terms & Conditions
  • Click on 'Submit'

  2. Through TT exe : You will have to follow 5 easy steps as mentioned below:

  • Login to your TT exe. trading account.
  • Enter Client ID » Password » Submit
  • Click on the tab SIP » Orders » Equity SIP
  • Fill in the required details, accept the Terms & Conditions
  • Click on 'Submit'

• Why should I invest through Equity SIP when I can invest in cash segment?

  Equity SIP allows you to systematically invest a prespecified sum / buy a prespecified quantity of shares over any defined period of time in a disciplined manner. You can therefore invest at predefined intervals without the need to worry about the right time to invest in the Equity market.
  Unlike in the cash segment, where you have to time the market to make gains, Equity SIP helps you to bring down your average cost of acquisition of shares due to the averaging principle.
  Equity SIP eliminates the need for you to actively track the market and helps in distributing your investment over a period of time.

• What is an Equity SIP Request?

  An Equity SIP Request is an online instruction placed by you on https://ttweb.indiainfoline.com/trade to place buy orders in your account as per the details specified by you.

• Can I place Equity SIP Request for Sell transactions?

  No. You can place SIP Requests for "buy" orders only under the Equity SIP facility.

• What is the difference between Equity SIP request and Equity SIP order?

  Equity SIP request is an authorization given by you to IIFL for placing buy orders as per your instructions mentioned in the request.
  The orders placed by IIFL as per your authorization vide the SIP request are called Equity SIP orders.

• Do I need to allocate funds for placing an Equity SIP Request?

  No. Equity SIP Request is merely an authorisation given to IIFL to place order in your account as per your instructions vide the SIP Request. Hence, funds are not required or used when you place Equity SIP Requests.
  Your funds would however be required and used at the time of placing the SIP orders.

• What is meant by "Frequency"? Please explain how does it work?

  Frequency means the time interval, after the start date, with which you wish SIP orders to be placed in your account. Depending on the frequency selected by you, IIFL will place SIP orders at the defined intervals after the start date for the total period specified by you. The First order will be placed on the start date specified by you and thereafter orders would be placed at the frequency for the total period as per your request.
  For example:,
  If you have placed a SIP request for buying 100 shares of Reliance at a 'Monthly' frequency for a total period of 6 months with start date 10-04-2012, IIFL will place 6 orders for this SIP i.e. the first order being on the Start date and the other order in the next month after the start date on a monthly frequency. In this case the first SIP order for 100 shares in Reliance is placed by IIFL on 10-04-2012, the next SIP order will be placed in the next month on 10-05-2012 and last installment will be on 10-09-2012 which will be the end date.

• Do I need to log in on every SIP date to place the Equity SIP orders?

  No. Once you have placed your Equity SIP requests, IIFL will place the Equity SIP buy orders on your behalf. You need not login to your account to purchase the shares.

• What is meant by Minimum and Maximum Period?

  'Minimum Period' is the period below which an Equity SIP request cannot be placed ie. you need to place an Equity SIP request for a period equal to or greater than the minimum period. Currently minimum period is 6 months
  'Maximum' Period is the period beyond which an Equity SIP request cannot be placed ie you need to place an Equity SIP request for a period equal to or lesser than the maximum period. Currently maximum period is 120 months
  The Order placement page displays the Minimum period and the Maximum period at the time of placing the SIP request.
  IIFL may change the Minimum period or the Maximum period from time to time without giving any prior notice.
  

• What are the types of Equity SIP request I can choose on indiainfoline.com and how do I indicate my choice?

  You may select either Amount based SIP request or Quantity based SIP request. You can indicate your choice by selecting the desired option under the field "Invest by" at the time of placing the Equity SIP request.

• What is "Amount" based Equity SIP?

  Amount based Equity SIP is a SIP type wherein a fixed amount (or approximately the same) is invested in your desired scrip at each frequency.
  In case of Amount based SIP, you need to specify the amount to be invested in the scrip at your desired frequency. The amount specified by you should be equal to or above the minimum amount defined by IIFL.
  At the time of placement of your SIP order, since quantity of shares has to be specified, the same will be calculated by dividing the SIP amount specified by you with the prevailing market price of the scrip at the time of order placement as per the SIP request.
  The formula would be Quantity = SIP Amount / Market price. Any fractional quantity will be ignored and order will be placed for the balance quantity. The actual order value would be based on the market price for the quantity so calculated above.

• What is "Quantity" based Equity SIP?

  Quantity based Equity SIP is a SIP type wherein a fixed quantity of shares of your desired scrip is purchased at each frequency.
  In case of Quantity based SIP, the quantity would be as specified by you and would be fixed while placement of orders as per your desired frequency. The order value would be calculated based on the market price of the scrip prevailing in the market at the time of order placement.

• What is "Equity SIP Registration Book"? What are the details available on the Equity SIP Request book?

  The "Equity SIP Registration Book" on the site is a page which displays the details of the SIP requests placed by you under the Equity SIP product. You can view the Equity SIP Registration book by visiting Equity SIP Registration Book link under the Holding page on the Equity segment. This book will provide you the details like the SIP reference no., stock name, quantity or amount, frequency, total period, start date, next SIP date, end date etc.

• What is "SIP Order book" link? What are the details available on the 'SIP order book' link?

  The "SIP order book" link on the holding page under Equity segment is a link which displays all your ongoing equity SIP requests . This link will provide you with details of the SIP order executed like the date, SIP transaction no., stock name, SIP type, quantity or amount, status, SIP start date, SIP end date, next SIP date etc.

• Can I place Equity SIP request in any scrip?

  Equity SIP requests can be placed only in select scrips which are available on cash segment as per india infoline.
  IIFL may include or exclude any scrips from the Stock list at any time without any prior intimation.

• Where can I view the SIP Stock list?

  All scrips which are available for trading in cash segment on india infoline platform are available for sip also. So, please refer equity market scrip list.

• In which exchanges can I place Equity SIP Requests?

  You can place Equity SIP Requests for placing SIP orders in both NSE as well as BSE.

• Can I place Equity SIP Request at any time during the day?

  Yes. You may place Equity SIP Request at any time during the day and even post market hours.

• Can I place Equity SIP Request through CallNTrade?

  Currently this facility is not available.

• How many Equity SIP Requests can I place in a day? Is there a restriction on the number of scrips in which Equity SIP can be placed by a client?

  You can place multiple Equity SIP Requests in a day for different scrips or for the same scrip irrespective of whether the SIP requests are Amount based or Quantity based.
  There is a restriction of maximum 10 scrips that you choose for Equity SIP request with a single mandate rovided the scrips are enabled under the stock list.

• Can I place "Quantity" and "Amount" based SIP Request in the same scrip simultaneously?

  You can choose both, Quantity as well as Amount based, SIP request simultaneously for different scrips or the same scrip. However, you will have to place two different SIP requests for each SIP type in each Scrip.

• When would IIFL place my Equity SIP orders?

  When placing an Equity SIP request, you are required to select a "start date" from when Equity SIP order placement will commence. IIFL will place the order from the start date selected by you as per your request. The start date should be atleast T+2 from the date of placing the Equity SIP request in case of ledger and T+30 in case of SIP through Bank
  Thereafter, the orders would be placed on the basis of the frequency and the total period chosen by you in your Equity SIP Request.
  The orders would be placed on these dates provided they are trading days. In case the frequency dates fall on Trading holidays, then the orders would be placed by IIFL on the subsequent trading day. In case of SIP with daily frequency, orders would be placed by IIFL only on trading days. During a SIP order placement date, the time of order placement would be at the discretion of IIFL and would be displayed on the site for your reference.

• Is there a possibility that my entire SIP order may not be executed at the exchange?

  Yes. IIFL is merely your agent for placing orders as per the instructions given by you under the facility. IIFL does not have any role to play in the execution of trades after the orders have been placed. Trade execution takes place at the exchange platform as per the order matching rules of the exchange. Thus there is a possibilty that orders may be executed only partially or may not be executed at all; as is the case with normal cash transactions also.

• At what price will my Equity SIP orders be placed and where can I see details of the same?

  You can view the details of all successfully placed SIP orders in your account in the normal Equity SIP order book.

• How do I differentiate between SIP orders and cash orders in the order book?

  Equity SIP orders and cash order books details are visible from 2 different reports.

• I have forgotten to allocate enough funds for my Equity SIP order. Is my order liable to be rejected?

  In case of SIP through ledger ,IIFL will place the order only after checking that sufficient clear funds are available in your Equity ledger in case of SIP . In case the clear funds in your Equity ledger are insufficient to place your Equity SIP order, the entire Equity SIP order will not fail.
  Please note that EQUITY SIP order will be placed for partial amount/quantity on the basis of priority. In case sufficient balance is not available in your account.
  
  In case of SIP through bank, IIFL will place the order only after checking that sufficient Money is credited to IIFL through mode of ECS. In case the ECS transaction get rejected entire sip order will fail.

• Where can I view the SIP order placement date for my SIP requests?

  You can view your order placement date in the Equity SIP Registration book under the column 'Holding'.

• Can I cancel a SIP request?

  Yes. You can cancel an On-going SIP request at any time before IIFL has initiated order placement on the order placement date .
  Currently You can cancel your SIP request by putting a e-mail on iiflmfipo@indiainfoline.com along with SIP registration details. But soon you can cancel your SIP request by visiting the Equity SIP registration book under the Equity holding page of your online trading account.
  Once you cancel a SIP Request, all future orders to be placed against such SIP Request no. would stand cancelled.

• Is the brokerage rate different for Cash and Equity SIP transactions?

  No, there is no change in the brokerage rates for Equity SIP transactions. Brokerage rates and applicable charges applicable for Equity SIP transactions would be the same as your cash transactions. But Rs. 10 per installment will be charged over and above normal brokerage for executing the SIP Transaction.

• How will my Equity SIP transactions be settled?

  Settlement of Equity SIP transactions would be done in the same manner as cash transactions.

• Can I sell shares which I have bought through Equity SIP ?

  Yes. Shares bought in your demat account through Equity SIP are at par with the ones bought by you in the cash segment. You can therefore sell/ otherwise deal in such shares at anytime as per your requirement.