Piggy, a popular mutual fund investment platform, will cease operations in June. The company has recently notified all its customers through emails about this matter. Several users express concerns regarding the future of their ongoing investments, SIP (Systematic Investment Plan) mandates, and access to tax and transaction records.
“After much reflection, we’ve decided to discontinue further development and support for the Piggy app and web portal. The platform will go offline 30 days from today,” the company announced in an email on May 30, 2025.
The company has clarified various topics through mail to guide customers on managing their SIPs, pending redemptions, and dividend payouts.
Can I transfer my SIP to other MF platforms?
It’s important to note that SIP mandates cannot be transferred to another platform. You need to set up new SIPs on MF Central, individual AMC websites, or any other investment platform you choose.
What happens to my active , can they be transferred?
All SIP mandates set up through Piggy will be automatically cancelled between June 15 and 20, 2025, according to the company’s email. If you prefer to stop them earlier, you can do so manually through the Piggy app. Alternatively, you can contact your bank to cancel any standing instructions issued in the name of BSE Star or ICCL.
Here are the FAQs from the Piggy platform, which customers should note:
Do I need to withdraw my money before Piggy shuts down?
No. Your mutual fund units live with the fund houses and their RTAs ( or KFintech). Piggy is just a viewing/transacting layer. Even after our app goes dark, you can:
Log in at mfcentral.com, individual AMC/RTA portals, or their mobile apps.
Request a Consolidated Account Statement (CAS) from CAMS or MF Central any time you need a snapshot of all holdings.
What happens to my active SIPs? Can they be moved?
Automatic stop: Every SIP mandate set up through Piggy will be cancelled between 15 and 20 June 2025.
Stop it sooner: Open the Piggy app, tap your profile (top-left), go to upcoming events, click on “Stop SIP.”
Bank route: You can also tell your bank to cancel any standing instructions in the name of BSE Star / ICCL.
Transfer? Sadly, SIP mandates cannot be ported. You’ll need to start fresh SIPs on MF Central, AMC sites, or another platform of your choice.
Can I buy or sell from other platforms?
Absolutely. Because these are “physical” (RTA-held) units, any service that supports importing external folios can handle them. Popular options: