How To Cancel SWP In Mirae Asset Mutual Fund?

Finance Guru Speaks: In the previous article, I have shared Steps on how to start SWP in Mirae Asset Mutual Fund. 

In this article, I will guide you on how you can Cancel the SWP registration in Mirae Asset Mutual Fund.

If you are an existing Mirae Asset Mutual Fund investor, then first of all get registered to its Mirae Asset Mutual Fund website. You can follow the options as mentioned here.

In this article, we will provide steps for stopping SWP in Mirae Asset Dynamic Bond Fund. However, you may select any other Mutual funds from this fund house, steps will remain the same.

Steps to Cancel SWP in Mirae Asset Mutual Fund:-

1. Open Mirae Asset Mutual Fund website and provide your User ID, Password & Generated OTP and click on LOGIN button.:-

Mirae Asset Mutual Fund Login Page

2. On the Home page, first go to TRANSACT -> SWP Cancellation, as shown below:-

Click to enlarge - How To Cancel SWP In Mirae Asset Mutual Fund

3. Against your Fund (Mirae Asset Dynamic Bond Fund in our case), click Cancel option:-

Click to enlarge - How To Cancel SWP In Mirae Asset Mutual Fund

4. Check all the details and click on CONFIRM button:-

Click to enlarge - How To Cancel SWP In Mirae Asset Mutual Fund

5. Click on OK button:-

Click to enlarge - How To Cancel SWP In Mirae Asset Mutual Fund

Congratulations on the successful cancellation of SWP in Mirae Asset Mutual Fund :-)

Click to enlarge - How To Cancel SWP In Mirae Asset Mutual Fund

You can also go back to TRANSACT -> SWP Cancellation and make sure that the Status of this SWP is Cancelled, as shown below:-

Click to enlarge - How To Cancel SWP In Mirae Asset Mutual Fund

Images Courtesy: Mirae Asset Mutual Fund

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How To Start SWP In Mirae Asset Mutual Fund?

Finance Guru Speaks: This article will guide you on how you can start SWP (Systematic Withdrawal Plan) in Mirae Asset Mutual Fund to generate regular income.

Some details about SWP: SWP is a method through which you can redeem mutual funds units or amounts on a periodic basis. For example, you can withdraw INR 5000 per month from a Mutual fund and the amount will directly credit to your registered bank account. 

SWP is ideal for Senior Citizens or Investors who seek regular income from their investments.

If you are an existing Mirae Asset Mutual Fund investor, then first of all get registered to its Mirae Asset Mutual Fund website. You can follow the options as mentioned here.

In this article, we will provide steps for starting SWP for Mirae Asset Dynamic Bond Fund. However, you may select any other Mutual funds from this fund house, steps will remain the same.

Steps to start SWP in Mirae Asset Mutual Fund:-

1. Open Mirae Asset Mutual Fund website and provide your User ID, Password & Generated OTP and click on LOGIN button.:-

Mirae Asset Mutual Fund Login Page

2. On the Home page, first go to TRANSACT -> SWP, as shown below:-

Click to enlarge - How To Start SWP In Mirae Asset Mutual Fund

3. Click CONTINUE, as shown below:-

Click to enlarge - How To Start SWP In Mirae Asset Mutual Fund

4. Against your Fund (Mirae Asset Dynamic Bond Fund in our case), select Transact option.

Enter the SWP details like SWP Frequency (e.g. Monthly), SWP Amount (e.g. Withdrawing Rs. 2000 per month),  SWP Date, SWP Period, etc. Click on SUBMIT button once all the required details as filled in:-

Click to enlarge - How To Start SWP In Mirae Asset Mutual Fund

5. Check all the details and click on CONFIRM button:-

Generate Regular Income By Starting Online SWP In Tata Mutual Fund

Finance Guru Speaks:  This article will provide information on how to online register for Systematic Withdrawal Plan (SWP) in Tata Mutual Fund for generating regular income.

Tata Mutual Fund SWP

SWP is a process through which you can redeem mutual funds units or amount on a periodic basis. For example, you can withdraw INR 5000 per month from a Mutual fund and the amount will directly credit to your registered bank account. 

SWP is ideal for Senior Citizens or Investors who seek regular income from their investments.

You may select any Mutual fund scheme, steps will remain the same for this fund house.

If you are an existing Tata Mutual Fund investor, then, first of all, get registered to its Tata Mutual Fund website. You can click on CREATE NEW ACCOUNT link mentioned here. Make sure you have your Mobile No. and Email ID correctly registered in the fund house.

Steps to follow to start online SWP in Tata Mutual Fund:-

1. Open Tata Mutual Fund website and provide your Username and Password and click on Login button:-

Tata Mutual Fund Login Page

2. In the Home page, scroll down and go to Folio Summary, then click on your Folio No. as shown below:-

(Click to enlarge) Tata Mutual Fund SWP

3. Now, click on Transact and then SWP, against the selected Mutual Fund in which you want to start the SWP, as shown below:-

(Click to enlarge) Tata Mutual Fund SWP

4. On the Next Page, provide SWP Frequency, Period and SWP Amount and click on GENERATE OTP button after accepting Terms & Conditions:-

SWP - How To Generate Regular Income From Quantum Mutual Fund?

Finance Guru Speaks:  This article will provide information on how to online register for Systematic Withdrawal Plan (SWP) in Quantum Mutual Fund for generating regular income.

Quantum Mutual Fund - Start SWP

SWP is a process through which you can redeem mutual funds units or amount on a periodic basis. For example, you can withdraw INR 2000 per month from a Mutual fund and the amount will directly credit to your registered bank account. SWP is ideal for Senior Citizens or Investors who seek regular income from their investments.

In this article, we have taken Quantum Long Term Equity Value Fund to register the SWP. However, you may select any other Mutual fund scheme, steps will remain the same for this fund house.
It is better to register yourself to the Quantum MF website in order to perform online transactions like Purchase, Redeem, SWP, etc. You can follow this link to get yourself registered to this fund house. Make sure you have your Mobile No. and Email ID correctly registered in the fund house.

Steps to follow to start online SWP in Quantum Mutual Fund:-

1. Open Quantum Mutual Fund home page after clicking here

2. As shown below, click Submit button. Here, we are using combination of UserID and Password. You can even login after generating OTP on your registered Mobile No.:-

Quantum Mutual Fund Login

3. In the Home Page, under Transact, click on SWP as shown below:-

(Click to enlarge) Quantum Mutual Fund SWP

4. On the Next Page, under SWP Registration, click on Register SWP against your Mutual Fund:-

(Click to enlarge) Quantum Mutual Fund SWP

5. On the Next Page, provide SWP Frequency, Period and SWP Amount and click on Submit button:-

(Click to enlarge) Quantum Mutual Fund SWP

(Click to enlarge) Quantum Mutual Fund SWP

6. Review all the SWP details and click on Confirm button:-

(Click to enlarge) Quantum Mutual Fund SWP

Congratulations on your successful Online SWP Registration of Quantum Long Term Equity Value Mutual Fund.

(Click to enlarge) Quantum Mutual Fund SWP

The Mutual Fund SWP amount will be directly credited to your Registered Bank Account on the selected frequency (e.g. monthly basis).

Images Courtesy: Quantum Mutual Fund Website

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I Love You - Financial Freedom!

Finance Guru Speaks: This is a special article on the occasion of Valentine's Day and it is written on the demand of some of my readers!

Valentine's Day is celebrated on 14th Feb every year and it is considered to be the best day to express your love and care for your loved ones. Have I told something which you are not aware of? 😉

Financial Freedom

Then, why are we discussing Valentine's day in this Website which is related to Personal Finance and Investments?

Well, the answer lies in your LOVE! I absolutely love my Financial Freedom and always encourage my audience to walk on the path of this freedom.

Financial Freedom is not a destination, rather it is a continuous journey where you keep a track of your Assets and Liabilities and maintain your required Standard of Living.

I am very sure you know the meaning of Assets and Liabilities.

Assets generate Income whereas Liabilities generate Expenses.

Let's understand with simple examples.

If you are getting Monthly Rental from your Property then it is considered to be one of your Assets.
However, the Amount (EMI) paid on your Personal Loan is considered to be your Liabilities.

Assets and Liabilities

As shown in the above figure, the number of Assets should be more than the number of Liabilities inorder to stay Financial healthy and free.

Follow some basic steps to stay on the path of Financial Freedom:-

1. Maintain an Emergency Fund equivalent to 6 to 8 months of your monthly Income or 12 to 14 months of your monthly Expenditure. Keep this Emergency fund in the mix of Bank Deposits and Debt Mutual Funds.

2. Keep yourself adequately insured. Buy Term Insurance for covering your Life, Health Insurance to cover Critical Illness & Hospitalization expenses and Accident Insurance.

Generate Regular Income By Starting Online SWP In ICICI Prudential Mutual Fund

Finance Guru Speaks: This article will provide information on how to online register for Systematic Withdrawal Plan (SWP) in ICICI Prudential Mutual Fund.

SWP is a process through which you can redeem mutual funds units or amount on a periodic basis. For example, you can withdraw INR 1000 per month from a Mutual fund and the amount will directly credit to your registered bank account. SWP is ideal for Senior Citizens or Investors who seek regular income from their investments.

In this article, we have taken one of the ICICI Prudential Mutual Fund Scheme to register the SWP. However, you may select any other Mutual fund scheme, steps will remain the same for this fund house. Make sure to register your valid Email and Mobile with the Fund house.

Steps to follow to start online SWP in ICICI Prudential Mutual Fund:-

1. Open ICICI Prudential Mutual Fund website and click on LOGIN button after providing your User Name and Password:-

ICICI Prudential Mutual Fund - Login Page

NOTE: If you don't have access to their website, then you can register your Folio by following instructions mentioned in this link. It will help to generate your User Name and Password to login.

2. In the Home page, click on MAKE A TRANSACTION link as shown below:-

ICICI Prudential Mutual Fund - Start SWP

3. On the Next Screen, select your Folio No. and click on SWP button, as shown below:-

What is SIP (Systematic Investment Plan) in Mutual Funds?

Finance Guru Speaks: SIP stands for "Systematic Investment Plan" which is very common while investing in Mutual Funds. 

SIP

Reasons to Invest in SIPs:-

Fact No. 1: Over a long-term horizon, equity investments have given returns that far exceed those of debt-based instruments. They are probably the only investment option, which can build large wealth.

Fact No. 2: In the short term, equities exhibit very sharp volatility, which many of us find difficult to stomach.

Fact No. 3: Equities carry a lot of risks even to the extent of losing one's entire corpus.

Fact No. 4: Investment in equities requires one to be in constant touch with the market.

Fact No. 5: Equity investment requires a lot of research. 

Fact No. 6: Buying good scrips requires one to invest fairly large amounts.
Systematic investing in a mutual fund is the answer to preventing the pitfalls of equity investment and still enjoying high returns. And it makes all the more sense today when the stock markets are booming.

It's an Expert's Field - Let's Leave it To Them:

Management of the fund by professionals or experts is one of the key advantages of investing through a mutual fund. They regularly carry out extensive research - on the company, the industry, and the economy - thus ensuring informed investment. Secondly, they regularly track the market. Thus for many of us who do not have the desired expertise and are too busy with our vocation to devote sufficient time and effort to investing in equity, mutual funds offer an attractive alternative.

Putting Eggs in Different Baskets:

Another advantage of investing through mutual funds is that even with small amounts we can enjoy the benefits of diversification. Huge amounts would be required for an individual to achieve the desired diversification, which would not be possible for many of us. Diversification reduces the overall impact on the returns from a portfolio, on account of a loss in a particular company/sector.

It's All Transparent & Well Regulated:

The Mutual Fund industry is well regulated both by the Securities and Exchange Board of India and the Association of Mutual Funds in India. They have, over the years, introduced regulations, which ensure smooth and transparent functioning of the mutual funds industry. This makes it safer and more convenient for investors to invest through mutual funds.

Market Timing Becomes Irrelevant:

One of the biggest difficulties in equity investing is WHEN to invest, apart from the other big question WHERE to invest. While investing in a mutual fund solves the issue of 'where' to invest, SIP helps us to overcome the problem of 'when'. SIP is a disciplined investing irrespective of the state of the market. It thus makes the market timing totally irrelevant. And today when the markets are high, it may not be prudent to commit large sums at one go. With the next 2-3 years looking good from the Indian Economy's point of view, one can expect handsome returns through regular investing.

Does Not Strain Your Day-to-day Finances:

Mutual Funds allow us to invest very small amounts (Rs 500 - Rs 1000) in SIP, as against larger one-time investment required, if we were to buy directly from the market. This makes investing easier as it does not strain our monthly finances. It, therefore, becomes an ideal investment option for a small-time investor, who would otherwise not be able to enjoy the benefits of investing in the equity market.

Reduces the Average Cost:

In SIP we are investing a fixed amount regularly. Therefore, we end up buying more units when the markets are down and NAV is low and less number of units when the markets are up and the NAV is high. This is called rupee cost averaging. Generally, we would stay away from buying when the markets are down. We generally tend to invest when the markets are rising. SIP works as a good discipline as it forces us to buy even when the markets are low, which actually is the best time to buy.

Helps To Fulfill Our Dreams:

The investments we make are ultimately for some objectives such as buying a house, children's education, marriage, etc. And many of them require a huge one-time investment. As it would usually not be possible to raise such large amounts at short notice, we need to build the corpus over a longer period, through small but regular investments. 

This is what SIP is all about.  

Small investments, over a period of time, result in large wealth and help fulfill our dreams & aspirations.

Also read:

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