Introduction:

State Bank of India (SBI), a reliable government bank, provides numerous investment choices for individuals. Mutual funds and SIP investments have become widely popular due to their lucrative returns and liquidity. If you've invested in an SBI mutual fund and wish to terminate your SIP, this can be done effortlessly using either online or offline methods.

• To cancel your SIP online, follow these steps:
• Start by visiting the SBI Mutual Fund website. [Insert link here]
• Navigate to the 'Select Request' section under the non-financial transaction header.
• Select 'SIP Cancellation Request' from the available options.
• Input your Folio No. and click Proceed.
• Upon processing your request, SBI's team will cancel your SIP, which might take up to 30 days.

Another online method to close your SIP is through your investment agent. Communicate your account closure request to your agent, who can facilitate this via their portal.

If the offline mode is more convenient, the steps to cancel your SIP are as follows:

• If you have a designated asset manager, notify them of your plan to cancel your SIP. If not, directly contact your asset management company.
• Acquire an appointment form from the transfer agents.
• Complete the necessary details on the form, such as bank account information, folio number, SIP scheme name, SIP amount, PAN, and the date from which you wish to stop the scheme.
• Submit the filled form to your asset manager.
• The cancellation process generally requires around 21 days, though times may vary by fund house.

Before account closure, it's advisable to consult your asset or portfolio manager about the current status of your funds and any possible hidden fees. Even though most companies refrain from charging for cancellation, some might levy a processing or transaction fee.

For assistance or inquiries regarding SBI Mutual Fund services, contact customer service at the toll-free numbers 18002093333 or 18004255425, or via email at customer.delight@sbimf.com.

Closing your SBI Mutual Fund SIP is streamlined with these two user-friendly options available.