If I close SIP before completion of 10 years or part withdraw then what will be the charges

Following is the answer to your queries –

1. For your SIPs you may opt for 10 years or for that matter, any period you want. If you discontinue your SIPs anytime during this period, AMCs will not charge or deduct any amount from you. Simply sending a SIP closure letter to the AMC will do.

2. In case you partially withdraw from the SIP corpus, only the exit load may apply. Normally the exit loads are 1-1.50% of applicable NAV, if you withdraw with 12-18 months. Beyond that, ideally, there will be no exit loads. You should refer to the respective scheme information document (SID) to know the exact scheme exit loads/ period. Other than exit loads, if applicable, there will be no other charges for partial withdrawal from your SIPs.

3. In case you want to extend the SIPs beyond the mandated period, there will be no charges or any hassles. Rather, AMCs will welcome this. To extend your SIP period you will have to further submit a fresh SIP ECS Mandate form along with a cancelled cheque or you may also do it directly from the respective AMC websites.