Your SIP deduction might not have happened despite setting up AutoSIP due to the following 2 reasons:
- Mandate should be approved before the SIP instalment due date
- The gap between 2 SIPs should be as per the frequency selected by you
Example: There should be a 30 day gap between the first instalment and next instalment if you select 'monthly' as your frequency
Let’s say you registered for a monthly SIP on 16th September and selected your SIP date as 1st October. In this scenario, your 2nd SIP deduction will happen on 1st November and not 1st of October because the 1st instalment will get deducted on 16th September itself.
Related articles:
how do i set up an autopay for my sip instalments
how much time does it take to process a bank e-mandate