Write a letter to SBI for discontinuing SIP for mutual fund

 SIP is a smart way of investing in small amount for financial security. A number of companies including State Bank of India (SBI) are offering attractive SIP schemes to invest and prosper. However, it may not be possible or profitable to continue with a particular mutual fund. In such a case, a letter can be communicated to the appropriate authority to discontinue the same. This is a sample letter to SBI for discontinuing SIP for mutual fund. The letter can be modified according to need and preference.

 

 

To
The Manager
SBI
Branch Name
Branch Address

 

Subject: Discontinue SIP

Dear Sir/Madam,

                                 I am an account holder of the (mutual fund name) for the last three years with account number (number). A monthly amount of Rs 3000 is deducted from my bank account as SIP.

                               I would like to close my mutual fund account with immediate effect. Hence, I request you to do the needful and stop deducting the above mentioned SIP from my bank account.

 

                                  This is for your kind information and necessary action.

                                                                                            Yours truly,

 

                                                                                             Your name

                                                                                             Your address

                                                                                            

Date:
Place:

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 Sample grievance letter to Manager of State Bank of India informing about deduction of SIP even after closure of mutual fund