How is a SIP transaction processed?

Let’s say you want to invest Rs. 1,000 in Reliance Top 100 Fund, every month. To make this investment, Moneycontrol trade will guide you to place the SIP order of Rs. 1,000 for the fund.
Once you start the SIP order, you will be required to enter following details on the Order details page:
- Amount (the amount you want to invest every month)
- SIP Date (the date you’d like to invest every month)
- Number of Instalments (the number of months you’d like to invest the amount.)
To continue with our example, let’s choose the 7th of every month as our SIP date and 36 as the number of instalments to be paid. This would mean that every month, on the 7th, Rs. 1000 will be invested from your bank account, for the next 36 months, towards Reliance Top 100 Fund investment.
• Once the order details are verified, you will be taken to the payment gateway to make your first payment of Rs.1000.
• After the payment is made, all the subsequent payments will be directly invested from your bank account.
• To automate your future transactions, you will need to complete the SIP Activation process. Visit My Profile section  SIP Activation, for more details.
• In case the chosen date (like the 7th) is a holiday/Saturday/Sunday, your transaction will be processed on the next working day.