SWPs, a systematic draw-down of funds, makes sense for retirees only. At this time, our offerings are for those saving for retirement rather than those who are already retired.
STPs are typically monthly transfers from a debt or liquid fund to an equity fund. The math of STP just does not add up. While you are trying to get an extra 1 or 2% in liquid funds over savings, you are giving up an extra 8-10% which you would get by having that money in equities.
Let's assume you have 50K to invest and you do that over 10 months. The extra return with the liquid fund is going to be just Rs 500.
On the other hand, if you invested the entire amount, you have a high probability of earning approximately Rs 5,000 (assuming a 10% return over 10 months viz. 12% per annum) on your Equity/ELSS investment over the same period.
Sure, you may not but that's what equity investing is about.
Every time you make a transfer, it's considered as a withdrawal. This means lower post-tax returns and also additional requirement of computing tax, with capital gains in mind, while filing taxes.