E-Mandates and fund transfers using eMandate at Upstox are free. Banks may, however, charge a penalty if a transaction fails due to insufficient funds.
The banks also charge a fee for verifying mandates. Charges per bank are as follows:
Banks | Amount in ₹ + 18% GST |
---|
ABHYUDAYA CO-OP.BANK LTD | 50 |
---|
ALLAHABAD BANK | 50 |
---|
ANDHRA BANK | 100 |
---|
AXIS BANK LTD | 115 |
---|
BANK OF BARODA | 115 |
---|
BANK OF INDIA | 201.25 |
---|
BANK OF MAHARASHTRA | 115 |
---|
CANARA BANK | 150 |
---|
CENTRAL BANK OF INDIA | 100 |
---|
CORPORATION BANK | 100 |
---|
COSMOS CO-OP BANK LTD | 100 |
---|
DENA BANK | 50 |
---|
FEDERAL BANK LTD | 100 |
---|
IDBI BANK LTD | 50 |
---|
INDIAN OVERSEAS BANK | 100 |
---|
JAMMU & KASHMIR BANK LTD | 100 |
---|
JANATA SAHAKARI BANK LTD | 50 |
---|
KARNATAKA BANK LTD | 100 |
---|
KARUR VYSYA BANK LTD | 100 |
---|
KOTAK MAHINDRA BANK LTD | 50 |
---|
LAKSHMI VILAS BANK LTD | 100 |
---|
ORIENTAL BANK OF COMMERCE | 100 |
---|
PARSIK JANATA SAHAKARI BANK LTD | 200 |
---|
PUNJAB NATIONAL BANK | 100 |
---|
SARASWAT CO-OP BANK LTD | 50 |
---|
SOUTH INDIAN BANK LTD | 100 |
---|
STATE BANK OF INDIA | 50 |
---|
SYNDICATE BANK | 236 |
---|
THANE JANATA SAHAKARI BANK LTD | 100 |
---|
THE THANE DIST.CEN.CO-OP BANK LTD. | 100 |
---|
UCO BANK | 200 |
---|
UNION BANK OF INDIA | 115 |
---|
UNITED BANK OF INDIA | 100 |
---|
VIJAYA BANK | 130 |
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Mandate verification fees are not charged by the following banks:
Banks |
AHMEDABAD DIST.CO-OP.BANK LTD |
AU SMALL FINANCE BANK LTD |
BANDHAN BANK LTD |
BASSEIN CATHOLIC CO-OP.BANK LTD |
CITI BANK |
CITY UNION BANK LTD |
DEVELOPMENT CREDIT BANK LTD |
DOMBIVLI NAGARI SAHAKARI BANK LTD |
HDFC BANK LTD |
ICICI BANK LTD |
IDFC BANK LIMITED |
INDUSIND BANK LTD |
PUNJAB & SIND BANK |
PUNJAB AND MAHARASHTRA CO-OP BANK LTD |
RATNAKAR BANK LTD |
SHAMRAO VITTHAL CO OP BANK LTD |
TAMILNADU MERCANTILE BANK LTD |
YES BANK LTD |
Note: The charges are subject to banking norms and may change. Get in touch with your bank's customer service department for more information.