Transaction Plans Use Cases

1. John is expecting a 40% increment in 2023 and wants to increase the Axis Emerging fund SIP from 5,000 to 10,000. How this be achieved?

This can be achieved by updating the existing SIP using Update a Purchase Plan -

Request

{
  "id": "mfpp_dbabb25ba34c48329dbfbeff70c846f0",
  "amount": 10000
}

Upon updating the SIP with the new amount, all the remaining installments will be generated with amount as 10000.

2. Tina wants to change the installment date for an existing SIP from 7th of every month to 15th of every month. How can this be implemented?

Changing the installment date of a SIP is not possible as RTA does not allow this as of now.

But this use case can be served if the user creates a purchase plan with systematic = false.

Then she can update the installment date of the plan using Update a Purchase Plan -

Request

{
  "id": "mfpp_dbabb25ba34c48329dbfbeff70c846f0",
  "installment_day": 15
}

Upon updating the purchase plan with the new installment date, all the remaining installments will be generated by FP on the 15th of every month.

3. Mona invests 5,000 on a monthly SIP on 17-March-2023. Her first installment to be deducted on 17-March-2023. Thereafter she should have the flexibility to choose her second installment date in March, Apr or May.

For the above example, let's say the user wants to generate her next installment on 15th May.

Then this can be achieved using the following steps -

Step 1: Create a purchase order of amount 5,000 on 17th March 2023.

Request

{
  "mf_investment_account": "mfia_367a75826694614a539c0f82b196027",
  "scheme": "INF173K01FE6",
  "folio_number": "31171511",
  "amount": 5000
}

Step 2: Create a purchase plan on the same day with activation date (activate_after) as 2023-05-01 and installment_day = 15

Request

{
  "mf_investment_account": "mfia_367a75826694614a539c0f82b196027",
  "scheme": "INF173K01FE6",
  "frequency": "monthly",
  "folio_number": "31171511",
  "amount": 5000,
  "installment_day": 15,
  "number_of_installments": 7,
  "systematic": true,
  "purpose": "children_education",
  "generate_first_installment_now": false,
  "auto_generate_installments": true,
  "activate_after": "2023-05-01",
  "consent": {
    "email": "mona@gmail.com",
    "isd_code": "91",
    "mobile": "9008580644"
  }
}