If you are investing in an mutual fund and doing a Systematic Investment Plan SIP using myCAMS and would like to cancel or pause a SIP of your MF folio, then follow below steps.
How to Cancel SIP in myCAMS
Cancel SIP in myCAMS:
#1. First Log in to https://mycams.camsonline.com/ Website
#2. Once Logged in go to my Transactions on Left side bar in bottom.
#3. Under my Transactions click on Systematic Transaction, see below image.
#4. Now selct Mutual Fund Name that you would like to Cancel the SIP
#5. Now Select Systematic Investment Plan and in Select Transaction Status dropdown select Active option.
#6. It will list the list of available folio details, see below image.
#7. Now click on Cancel button it will display your fund SIP details enter submit, now you will receive an OTP on your registered mobile number enter OTP to cancel the SIP.
How to Pause SIP in myCAMS
You can also Pause an SIP in myCAMS, just go to my Transactions->Systematic Transaction then choose your Fund and click on Pause.
Now it will display options like No of Pause Installments, Pause From Date and Pause To Date, now you will receive an OTP enter to pause a SIP in myCAMS website online.
FAQ’s on how to pause a SIP in myCAMS
SIP Pause is a facility provided by different mutual funds that allows an investor to pause their SIP for a temporary period
An investor can pause their SIP temporarily without discontinuing it
Once the Pause request gets initiated it cannot be cancelled
Investor can select up to a maximum of 3 instalments in case of a weekly or monthly SIP and 1 instalment in case of a quarterly/half-yearly/yearly SIP
For SIPs which are on a monthly or weekly basis, Pause will be applicable for 3 consecutive cycles from the start period. An investor will not be allowed to pick 3 staggered or non-consecutive periods to pause their SIPs
Note: Investor needs to initiate Pause request at least 15 days before the next SIP instalment date for it to take effect. If the Pause request is received within 15 days of the next instalment, it will become effective for the subsequent instalment