Step 1: Log in to the new Upstox app and go to the Mutual Fund section.
Step 2: If you’re on the ‘Upstox - For investors’ tab you’ll see a ‘Mutual Fund’ section on the bottom navigation bar. If you’re on the ‘Upstox - For traders’ tab the ‘Mutual Fund’ section can be found from the ‘Discover’ section.
Step 3: Clicking on 'Explore' will display 'Investment ideas' like Invest Globally, All Weather Investing, Invest In Gold etc. These suggestions can assist you in selecting a Mutual Fund for investment.
Step 4: Select the fund and tap on ‘SIP’.
Step 5: Now select the SIP amount
You have the option to choose an amount from the provided options or manually enter the desired investment amount. To customize, select the 'Custom' option and click 'Continue'. Enter the SIP amount and proceed by clicking 'Continue'.
Step 6: Choose a date for your SIP.
Step 7: Review your SIP order details before proceeding, once confirmed click on 'Proceed to payment’.
Step 8: You can also view stamp duty charges under ‘View tax & charges’.
Step 9: Next you’ll need to make an initial payment to start the SIP via Net Banking or UPI
Step 10: Once payment is done your SIP will be placed successfully. Funds will get deducted from your registered bank account and not from Upstox.
Step 11: You can see your 1st SIP payment order details as below. Typically, in 3 business days the order will get completed.
Step 12: For your next SIP to go through automatically, you need to click on ‘Set up AutoSIP’
- Click on ‘Set up AutoSIP’
- You will be redirected to the Authentication page from BSE Star MF to ‘Proceed with the Email VerificationCode’.
Step 13: By clicking on the ‘Continue’ button you will receive a security code.
Step 14: Upon entering the security code, 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.
Depending on the mode chosen by you in the above screenshot, you will be redirected to your respective banking portal to authorize the mandate.
Step 16: Lastly you will see the following message confirming your AutoSIP request.
KEEP IN MIND
The e-Mandate link 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
Once your MF order (One-time/SIP) is placed and here's how you can know about the settlement TAT