If your bank account doesn’t have enough funds on the SIP date, that instalment is skipped. The SIP itself is not cancelled; it continues from the next scheduled date as normal.
Samco does not charge a penalty for a missed instalment. However, your bank may levy a return or bounce charge for the failed auto-debit, depending on your bank’s policy.
If you know funds won’t be available on a particular date, it’s better to pause the SIP in advance from the app rather than letting the debit fail.
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