In recent years, the Systematic Investment Plan (SIP) has emerged as one of the most popular investment routes for retail investors in India, offering a disciplined and convenient way to invest in mutual funds. Data indicates that from an average monthly SIP contribution of around Rs. 3,660 crores in 2016-17, the monthly average increased to over Rs. 24,000 crores, a more than sixfold increase.
In recent years, the Systematic Investment Plan (SIP) has emerged as one of the most popular investment routes for retail investors in India, offering a disciplined and convenient way to invest in mutual funds. A SIP is an investment method offered by mutual funds where investors contribute a fixed amount at regular intervals, usually once a month, instead of making a one-time lump sum investment. The instalment can be as low as Rs. 500 per month or Rs. 250 under Chhoti SIP, making it accessible to a wide range of individuals.
SIPs are similar to recurring deposits, where a fixed amount is deposited every month. Investors can set up standing instructions to automatically debit the amount from their bank account, eliminating the need to manually make payments each time. This makes SIPs a hassle-free and consistent way to invest. In addition to convenience, SIPs offer benefits such as rupee cost averaging and the power of compounding, allowing investors to navigate market fluctuations and invest in a disciplined manner without trying to time the market.
While the Securities and Exchange Board of India (SEBI) regulates and oversees the mutual fund industry to ensure compliance and protect investor interests, the Association of Mutual Funds in India (AMFI) is responsible for publishing industry-wide data, including detailed statistics on SIP accounts, monthly contributions, and overall mutual fund performance. This data is available on Dataful in a structured and easy-to-analyse format.
Dataset on Year and Month-wise total number of outstanding SIP accounts, number of new SIPs registered, number of SIPs discontinued/tenure completed, SIP Assets Under Management, and SIP contribution can be downloaded from Dataful here.
The SIP contribution in 2024-25 was nearly Rs 2.9 lakh crore, the highest ever
The total SIP contribution in 2016-17 was Rs. 43,921 crores, which saw steady growth over the next few years. It rose to more than Rs. 1 lakh crores in 2019-20. In 2020-21, contributions dipped slightly to Rs. 96,080 crores, likely due to the impact of the COVID-19 pandemic. However, investments recovered to pre-COVID levels in 2021-22, with contributions rising to Rs. 1.25 lakh crore. The upward trend continued with Rs. 1.56 lakh crore in 2022-23 and Rs. 1.99 lakh crore in 2023-24. The highest contribution so far was recorded in 2024-25 at Rs. 2.89 lakh crore, marking a significant increase. For 2025-26, the contribution stands at Rs. 26,632 crores as of April 2025, and this number will rise as the year progresses.
Average monthly SIP contribution increased more than sixfold between 2016-17 and 2024-25
In April 2025, the total amount collected through SIPs was Rs. 26,632 crores, marking the highest-ever monthly collection. This is a significant increase from Rs. 3,122 crores collected in April 2016, representing an 8.5-fold growth over nine years. Compared to April 2024, when the contribution stood at Rs. 20,371 crores, there has been a 30% increase in April 2025. Additionally, the total SIP contributions for February and March 2024 amounted to Rs. 51,925 crores. This figure is comparable to the total annual contribution in the years 2016–17 and 2017–18.
The data clearly shows a steady rise in monthly SIP contributions over time. In 2016-17, the average monthly SIP contribution was around Rs. 3,660 crores. This increased to Rs. 10,380 crores in 2021-22 and further crossed Rs. 24,000 crores per month in 2024-25. In other words, the average monthly contribution through SIP increased more than sixfold between 2016-17 and 2024-25.
The data on the number of SIP contributing accounts is available since 2024-25. According to this data, the number of SIP contributing accounts was 637.84 lakh in April 2024, which increased to 838.25 lakh in April 2025, or by 31%. If the average contribution per account is considered, the SIP contribution per account has dropped slightly from Rs. 3,194 to Rs. 3,177. The highest was in July 2024 with Rs. 3,219.
Consistent growth in new SIP registrations, with a sharp rise in 2023–24 and sustained momentum into 2024–25
The number of new SIPs registered each month has increased steadily over the years, showing growing investor interest in mutual funds. In April 2019, around 9.02 lakh new SIPs were registered. This number remained mostly between 8 to 12 lakh per month until early 2021. During the COVID-19 period, registrations dipped, reaching a low of 7.5 lakh in April 2020, but gradually recovered.
By January 2022, monthly registrations crossed 26 lakhs, and the numbers continued to rise through 2022 and 2023. In April 2023, new SIP registrations stood at 19.56 lakh, increasing month by month. This upward trend continued strongly in 2024–25, peaking at 72.62 lakh in July 2024.
From July to October 2024, monthly SIP registrations remained above 60 lakhs, showing high retail participation. Though there was a slight decline later, April 2025 still saw 46.01 lakh new SIPs, more than double the figure from the same month in 2023.
At least 30 lakh SIPs were stopped or completed in each month in 2024-25
On the other hand, the number of SIPs that were stopped or completed has been gradually increasing over the years. In 2019 and 2020, around 5 to 7 lakh SIPs ended each month. As more people began investing through SIPs, this number rose steadily. By 2024, monthly closures had grown to around 30 to 60 lakhs.
However, in April 2025, there was an unusual spike of 1.62 crore SIPs that were shown as discontinued or completed in a single month. This sharp rise is because of a rule by SEBI that if two or three SIP payments fail in a row, depending on the frequency, the SIP is treated as discontinued. On 14 May 2025, the Mutual Fund industry updated past data to reflect this rule. Many older SIPs that had already stopped earlier but were not officially marked as such were included all at once. As a result, the April 2025 number includes a backlog of old SIPs. This was a one-time adjustment, and future monthly figures are expected to return to regular levels.
SIP Stoppage Ratio has been above 100% in 2025
SIP stoppage ratio is a measure that shows the proportion of SIPs that were stopped or discontinued compared to the number of new SIPs registered during the same period. From April 2019 to early 2020, the ratio hovered around 50% to 66%, indicating that for every 100 new SIPs, approximately 50 to 66 were discontinued or completed. However, the onset of the COVID-19 pandemic led to financial uncertainty, and the ratio rose significantly, peaking at over 80% in May 2020, before gradually declining.
Throughout 2021 and 2022, the ratio steadily fell, often staying between 35% and 50%. In 2023, the stoppage ratio stabilised in the range of 50% to 67%. In 2024, most months recorded ratios below 60%. However, this trend reversed sharply in early 2025, with the stoppage ratio exceeding 100% in each of the first three months. It was 109% in January, 122% in February, and 128% in March, indicating that more SIPs were being discontinued than newly registered.
SIPs have become a key investment choice for Indian retail investors, with contributions steadily rising to record levels. Their ease of use, accessibility, disciplined approach, and benefits have driven strong growth in new registrations and investments. While there have been some fluctuations and regulatory impacts, the overall trend shows growing confidence and participation.
