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What is the difference between SIP through ECS/Direct Debit & Auto Debit?
Can you explain to me the difference between SIP through ECS/Direct Debit and Auto Debit?
Certainly, SIP through ECS/Direct Debit allows for automatic investments in a mutual fund through electronic clearing service or direct debit from your bank account. Auto Debit is also a form of automatic investment, but it deducts the amount from your bank account without the need for an ECS mandate.