Yes, SIPs are flexible. You can pause, increase, decrease, or stop your SIP at any time. This gives you control over your investments based on your changing income & expenses or due to any unforeseen financial situation. Most fund houses and intermediaries allow online modifications for the SIP, making it easy to manage your investments without hassle. However, since there is an auto-debit set with your bank, it may take anywhere from 5 to 10 days to pause/cease the SIP. Hence, you should plan accordingly.
