To automate your Mutual Fund SIPs you need to complete the e-Mandate approval process by following these steps:
Step 1: Log in on Upstox and go to the Mutual Fund section.
Step 2: Place your SIP order. To know the process click here.
Step 3: On the ‘Order status’ screen, click on ‘Set up AutoSIP’
Step 4: You will be directed to the 'Set up AutoSIP' Mandate page. Here, select your preferred verification mode, either NetBanking or Debit Card, agree to the Terms & Conditions, and proceed by clicking Submit.
Step 5: Following that, you'll be directed to the Mandate Approval Automation page, where you can review the details of the mandate.
Step 6: Lastly you will see the following message confirming your AutoSIP request.
KEEP IN MIND
- The e-Mandate link sent to your registered email needs to be approved within 5 days or else it will expire.
- Based on the bank that you want to register your e-Mandate with, it can take around T+7 days for your request to be processed.
- Once the authentication process is completed by you, your bank will notify BSE and the same will reflect on Upstox.
- Upstox does not charge you anything for registering an e-Mandate. However, with NPCI’s recent circular, your bank might ask you for a one-time fee in order to register the mandate.
- These charges differ from bank to bank and you can check for the latest ones with your bank.
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