Oct-25 SIP flows at record ₹29,529 Crore; SIP stoppage 74.9%

14 Nov 2025 , 01:56 PM

NEW RECORD FOR MONTHLY SIP FLOWS

With the gross SIP flows in October 2025 coming in at ₹29,529 Crore, it looks like the wait for 30K just got longer. The SIP stoppage ratio in October 2025 remains high at 74.9%, but has sobered compared to September. For October 2025, gross SIP flows are still a good 16.6% above October 2024.

Monthly MF Data	Gross Monthly SIP Inflows (₹ Crore)
Oct-24	25,323
Nov-24	25,320
Dec-24	26,459
Jan-25	26,400
Feb-25	25,999
Mar-25	25,926
Apr-25	26,632
May-25	26,688
Jun-25	27,269
Jul-25	28,464
Aug-25	28,265
Sep-25	29,361
Oct-25	29,529

Data Source: AMFI

Gross monthly SIP flows averaged ₹26,842 Crore in the previous 12-month rolling period; the best in last 8 years. October 2025 marked the thirteenth month in succession when the monthly SIP flows stayed above ₹25,000 Crore. While gross SIP flows grew consistently, the net SIP flows have been relatively volatile due to SIP closures.

SIP GROWTH STEADY; MILESTONES GETTING TOUGHER

Here are monthly SIP flows since April 2017, with each ₹1,000 Crore milestone highlighted.

Month	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
March		25,926	19,271	14,276	12,328	9,182	8,641	8,055	7,119
February		25,999	19,187	13,686	11,438	7,528	8,513	8,095	6,425
January		26,400	18,838	13,856	11,517	8,023	8,532	8,064	6,644
December		26,459	17,610	13,573	11,305	8,418	8,518	8,022	6,222
November		25,320	17,073	13,306	11,005	7,302	8,273	7,985	5,893
October	29,529	25,323	16,928	13,041	10,519	7,800	8,246	7,985	5,621
September	29,361	24,509	16,042	12,976	10,351	7,788	8,263	7,727	5,516
August	28,265	23,547	15,814	12,693	9,923	7,792	8,231	7,658	5,206
July	28,464	23,332	15,245	12,140	9,609	7,831	8,324	7,554	4,947
Jun	27,269	21,262	14,734	12,276	9,156	7,917	8,122	7,554	4,744
May	26,688	20,904	14,749	12,286	8,819	8,123	8,183	7,304	4,584
April	26,632	20,371	13,728	11,863	8,596	8,376	8,238	6,690	4,269

Data Source: AMFI

The pace of milestones has slowed in FY26, compared to FY25 and FY24 due to SIP flow exhaustion and macro uncertainty. There have been just 3 milestones in first 7 months of FY26. Hopefully, the scenario should undergo an upward shift, once the barrier of ₹30,000 crore SIP flows is broken in the coming months.

WHAT DOES THE SIP TICKET STORY TELL US?

Since FY22, SIP flows have been progressively improving each year. If FY25 was the best full fiscal year; then FY26 (extrapolated) promises to be better.

Financial Year	Gross Annual SIP flows (₹ Crore)	Average Monthly SIP Ticket (AMST)	YOY Accretion in (%)
FY16-17	₹43,921 Crore	₹3,660 Crore
FY17-18	₹67,190 Crore	₹5,600 Crore	53.01%
FY18-19	₹92,693 Crore	₹7,725 Crore	37.95%
FY19-20	₹100,084 Crore	₹8,340 Crore	7.96%
FY20-21	₹96,080 Crore	₹8,007 Crore	-3.99%
FY21-22	₹124,566 Crore	₹10,381 Crore	29.65%
FY22-23	₹155,972 Crore	₹12,998 Crore	25.21%
FY23-24	₹199,219 Crore	₹16,602 Crore	27.73%
FY24-25	₹289,352 Crore	₹24,113 Crore	45.24%
FY25-26	₹336,357 Crore	₹28,030 Crore	16.24%

Data Source: AMFI

The FY26 gross annual SIP flows is 7 months data annualized; which should be fairly reflective of the full-year trend. These trends have only been bettered in the past. Despite the volatility in markets, average monthly SIPs in FY26 are 16.2% higher than FY25. Interestingly, the average monthly SIP flows are up nearly 3X since FY22.

SIP FOLIO ACCRETION SLOWS IN OCTOBER 2025

SIP folios in October 2025 bounced for the sixth month in a row; after the contraction triggered by clean-up of defunct SIP folios. However, SIP folios at 987.88 Lakhs are still below the December 2024 peak of 1,032.03 Lakhs. Gross SIP folio accretions in October 2025 were higher MOM at 60.25 Lakhs; but SIP closures spiked to 45.10 Lakhs, resulting in SIP stoppage ratio of 74.9%. Since April 2025 (post SIP folios clean-up), the outstanding SIP folios have bounced 11.1% from 889.08 Lakhs to 987.88 Lakh folios in October 2025.

What about SIP AUM? Between September 2025 and October 2025, SIP AUM grew from ₹15,52,303 Crore to ₹16,25,305 Crore; as MTM gains offset the higher SIP stoppage ratio. While AUM growth can be cyclical, it is the folio growth that needs to sustain for SIPs; which is why the SIP growth and the SIP stoppage ratio assume importance.

SIP STOPPAGE RATIO – MODERATING; BUT NOT TOO MUCH

The gap between gross SIP folios reported by AMFI and net SIP flows is explained by SIP stoppage ratio; the ratio of SIP accounts discontinued to new SIP accounts opened.

Month	SIP Stoppage
January 2025	109.15%
February 2025	122.76%
March 2025	128.27%
Fiscal FY25	75.63%
April 2025	352.79%
May 2025	72.12%
June 2025	77.77%
July 2025	62.66%
August 2025	74.51%
September 2025	76.27%
October 2025	74.85%
Fiscal FY26 #	104.28%

Data Source: AMFI (# 7 months data)

The impact of the SIP clean-up between January 2025 and April 2025 is well documented, and we will not get further into that. Suffice to say that the cumulative SIP stoppage ratio at 104.28% is normalizing, but still distorted due to the April effect. The SIP folio clean-up eliminated 1.43 Crore folios; and since then, only 0.99 Crore folios have been recovered. The base is cleaner, but it will take time to recoup previous peaks. Till then, the SIP stoppage ratio may continue to look artificially inflated!