Stock SIP (earlier referred to as SEP), is a product using which you can place buy orders for a pre-specified amount or for a pre-specified quantity in securities of your choice at regular intervals.

Cash Segment requires constant monitoring of the markets to make gains, with Stock SIP clients can set the price or the quantity to be bought as well as the frequency. This eliminates the need to actively track the market. It also brings down the average cost of acquisition due to averaging principle. SIP orders can also be placed at any time during the day.

The clients are free to modify, pause, or cancel their Stock SIP. Clients do not need to allocate funds for placing an Stock SIP as funds are auto debited from their linked bank account.
No additional charges are incurred for placing Stock SIPs. You will be charged brokerage for Stock SIP Segment as per your pricing plan.

On ICICI Direct App:

Following are steps to place order for Stock SIP

• On tools, under Stocks select Stock SIP.
• Under the two tabs namely All Stocks & ETFs and Nifty 50 Stocks, you will be able to see the list of Stock SIPs available.
• You can now start investing in SIP by selecting any company of your choice.
• Specify the Exchange, Stock SIP Type (Quantity or Amount), Frequency or Duration followed by SIP Date.
• In “Amount Type”, you can set a pre-decided amount which will be invested in a security of your choice, at the set frequency for the set duration.
• In “Quantity Type”, you can set a quantity or number of shares that are to be bought at the set frequency for the set duration.
• You can also use the SIP Returns Calculator to calculate the expected value of your SIP returns.
• Once you have completed the process by agreeing to the terms and conditions, your order will be placed successfully.
• You can now either place another order or view your SIP order by selecting View SIP Book.

In this transaction, every month Rs. 100 will be invested in IDBFC First Bank Limited stock monthly for 3 years beginning from 19^th June 2024.

In this transaction, every month 1 share of RELAINCE will be bought for 3 years beginning from 15^th June 2024.

On Website:

You can place a Stock SIP by following these steps:
Login > Stocks > Smart Tools > Stock SIP

Or you can go to “Place Order” screen and choose Stock SIP.

• The key details such as Stock Name, Stock SIP Type, Exchange and duration need to be filled.
• A Stock SIP Request is an online instruction placed by you on icicidirect authorising I-Sec to place buy orders in their account as per the details specified by them.
• You may select either Amount based Stock SIP request or Quantity based Stock SIP request. You can indicate your choice by selecting the desired option under the field "Stock SIP Type" at the time of placing the request.

• In “Amount Type”, you can set a pre-decided amount which will be invested in a security of your choice, at the set frequency for the set duration.

In this transaction, every month Rs. 100 will be invested in IDFCBAN stock monthly for 20 months.

The amount specified by you should be equal to or above the minimum amount defined by I-Sec. The shares will be purchased at market price and the quantity will be decided using the formula Stock SIP/Market Price

• In “Quantity Type”, you can set a quantity or number of shares that are to be bought at the set frequency for the set duration. The order value is calculated based on the market price of the share prevailing in the market at the time of order placement.

In this transaction, every month 2 shares of ITC will be bought for 18 months beginning from 17^th June 2023.

• Frequency refers to the time interval which needs to be maintained between investments. I-Sec will place Stock SIP orders in accordance with the frequency selected by the you.

In “Amount Type” a you can set a pre-decided amount which will be invested in a security of their choice, how frequently this investment will take place and for how long. 

On ICICI Direct App:

In this transaction, every month Rs. 100 will be invested in IDBFC First Bank Limited stock monthly for 3 years beginning from 19^th June 2024.

On Website:

In this transaction, every month Rs. 100 will be invested in IDFCBAN stock monthly for 20 months.

The amount specified by you should be equal to or above the minimum amount defined by I-Sec. The shares will be purchased at market price and the quantity will be decided using the formula Stock SIP/Market Price

Amount Related

If the amount which is to be invested in SIP (Rs. 100) is more than what the stock is worth (Rs. 80), then the stock will be bought at Rs. 80 which is the prevailing market price.

If the stock price or LTP exceeds the set amount after a while, the system will start showing an error and no transaction will take place this is because the set amount cannot be less than the LTP.

As long as the amount is above the last traded price (LTP) of the stock, any amount can be set.

Date Related

Before the cut off time, any date can be chosen as the start date. However, the start date cannot be chosen as T-day (transaction day) after the cut off time. Any day after the T-day can be chosen as the start day in that case.

If any Stock SIP trigger date falls on a trading holiday, then the Stock SIP trigger will take place on the next trading day.

In this type, you have the choice to set a quantity or number of shares that are to be bought at the set frequency for the set duration. The order value is calculated based on the market price of the share prevailing in the market at the time of order placement.

On ICICI Direct App:

In this transaction, every month 1 share of RELAINCE will be bought for 3 years beginning from 15^th June 2024.

On Website:

In this type, the you have the choice to set a quantity or number of shares that are to be bought at the set frequency for the set duration. The order value is calculated based on the market price of the share prevailing in the market at the time of order placement.

In this transaction, every month 2 shares of ITC will be bought for 18 months beginning from 17^th June 2023.

In an event where the funds available to purchase the set quantity are less than what is required, the trade for that frequency will not take place and only continue for the next frequency if enough funds are made available then.

For example, Mr. A has a SIP for ITC where on 15^th of each month 10 shares are bought. On June 15^th he has insufficient balance and therefore no trade takes place. Even if he adds more funds by June 16^th no trade will be executed for this frequency and a trade will take place directly on 15^th July if sufficient funds are available.

Date Related

Before the cut off time, any date can be chosen as the start sate however the start date cannot be chosen as T-day (transaction day) after the cut off time. Any day after the T-day can be chosen as the start day in that case.

If any Stock SIP trigger date falls on a trading holiday, then the Stock SIP trigger will take place on the next trading day.

Step Up is a feature that will increase the Equity Stock SIP amount/quantity periodically by an amount or a quantity at a set interval as defined by the you. For “Amount Type”, a step-up amount can be set and similarly for “Quantity Type” a step-up quantity can be selected. This feature can be availed at the time of placing the order.

Step up will continue till the Stock SIP End date or Step Up cancelled by the user whichever is earlier. In case Stock SIP period selected as ‘Till cancellation’, then Step Up will continue till it is cancelled by the user.

*Step-up cannot be modified; it can only be cancelled. After cancellation of Step-up, next Stock SIP will be placed with on-going amount/quantity which will be equal to last Stock SIP triggered (Amount or Quantity). Follow these steps to modify the order.

On ICICI Direct App:

For example:  Reliance Stock SIP, Step-up feature will be applied after 8 months from the start date i.e. from 15^th February 2024, the amount will increase by 200.

On Website:

For Example,

Amount based

On-going Stock SIP request

     Start date : 15-Jan-19
     New Stock SIP Amount : 2000
     Total period : 24 months
     Frequency : Fortnightly
     Step up selection date : 20-Apr-19
     Incremental/Step up amount : 200
     Step up period/interval : 2 months

Quantity based

Step up at the time of New or Fresh Stock SIP request

     Stock SIP Start Date : 10-Jan-19
     Next Stock SIP Date : 17-Jan-19
     Stock SIP Amount : 1000
     Total period : 11 months
     Frequency : Weekly
     Incremental/Step up Quantity : 20
     Step up period/interval : 1 month

This action lets the you pause or put a hold on the SIP transactions for however long you wish to.

While pausing your sip you need to select a “Resume Date”, and your SIP will automatically get resumed on this date.

On ICICI Direct App:

• In order to pause your Stock SIP, you can open Stock SIP Book.
• Click on the SIP you wish to pause.
• Enter the resume date from which you wish to continue your SIP, click on continue.

On Website: 

In order to resume SIP manually on website:

Go to the Stock SIP page and click on Existing Stock SIPs. Here the name of the Stock SIP as well as the option to “Resume” should be mentioned.

Login > Stocks > Smart Tools > Stock SIP > Existing Stock SIP > Resume.

In case a Stock SIP request with step-up is paused, then the step-up shall be discontinued once you proceed with the pause. At the time of resuming the Stock SIP request, you are allowed to select or opt for step-up once again.

Yes, Stock SIPs can be modified or cancelled anytime through Stock SIP Request Book.

On ICICI Direct App:

FOR MODIFY

• In order to modify your Stock SIP, you can open Stock SIP Book.
• Click on the SIP you wish to modify.
• Make relevant changes in the duration or quantity of the Stock SIP, select on Modify.
• You will see a successful modification confirmation on your screen.

FOR CANCEL

• In order to cancel your Stock SIP, you can open Stock SIP Book.
• Click on the SIP you wish to cancel. Provide your confirmation to cancel the Stock SIP by clicking on OK.

On Website:

Login > Stocks > Smart Tools > Stock SIP > Existing Stock SIP > Modify

Stock SIP Request book can be accessed by going to the SIP page (Smart Tools à SIP), selecting the drop-down menu and click the option as shown below

After going to Request Book you will be able to see the details about your stock SIPs.

No additional charges are incurred for placing Stock SIPs. You will be charged brokerage for Stock SIP as per your pricing plan.

Yes, you should have sufficient balance in trading account for successful Stock SIP trigger. Investors are recommended to add sufficient funds with ample buffer(factoring in stock price movement), to their trading balance based on their Stock SIP value to avoid SIP failure.

Frequency means the time interval, after the start date, with which you wish Stock SIP orders to be placed in your account. Depending on the frequency selected by you, I-Sec will place Stock SIP orders at the defined intervals.

For example, if your specified frequency is One Month, Stock SIP orders will be placed every month.

Some stocks may not be eligible for SIP. You can refer to the list of eligible stocks by the following steps:

Go to Stock SIP page, here click on the drop- down menu as shown below and select “Stock SIP List”. This will present a list of all stocks eligible for Stock SIP.

On ICICI Direct App
Eligible stocks and ETFs can be found on “All Stocks & ETF” tab

On Website:

Login > Stocks > Smart Tools > Stock SIP > Stock SIP List