Here's a step-by-step guide on how to use Net Banking for setting up Autopay for your Stock SIP Orders:

  1. Log in to your Upstox account

  2. Switch to Upstox Pro mode

  3. Head to ‘SIP’ in the Orders tab

  4. Select the SIP Order for Autopay

  5. Click on ‘Autopay mandate’ 

  6. Click on ‘Setup a new Autopay’ 

  7. Select the payment method as Net Banking (for up to ₹2,00,000)

  8. Click on continue and you’ll be redirected to the Net Banking page

  9. Authenticate the mandate request with a password or OTP

  10. Approve the mandate and you are done

Upstox will notify you after the mandate is created successfully. You'll also receive a notification before any SIP is executed to confirm the approximate amount.

Conditions for using Net Banking for Autopay:

  • Net Banking facility should be active for your bank account

  • The maximum limit for Net Banking mandates is ₹2,00,000. Ensure your SIP amounts are within this limit.

  • Ensure you have sufficient funds in your bank account to cover the SIP amount on the due date.

  • Your bank might require additional verification such as OTP or security questions.

  • Mandate created using Net Banking is a one-time process and can be linked to multiple SIPs.