Bank mandate is a one-time registration process that will allow you to invest with a mutual fund in a simple, convenient and paperless manner. Simply put, it is an authorization to your bank account to debit money up to a certain limit in a day to a mutual fund of your choice.
To add a bank mandate, go to the “profile” tab and select the “Bank Mandates” from the list.
Now, you will see the linked bank accounts to your trading accounts. Click on the “Generate Mandate” button and follow the further instructions.
- Automatic SIP investments require an E- mandate/physical mandate.
- If we create a mandate for a specific date of a month, order will be placed with the mentioned amount thereon and the funds will be debited from the Bank account automatically.
- We can create the E-mandate from our platform by filling an online form or download the NACH form (physical mandate) and upload it on the portal.
- E-Mandate registration may take upto 10 days.
- The maximum limit for a mandate is Rs.100,000 per day and you can register multiple SIPs under the same mandate.