Investing in mutual funds just became easy! Now you can enrol for systematic investments plans (SIPs) online using the i-SIP facility. It is an absolutely paperless facility.

Under i-SIP, you may initiate an SIP for funds using a secure and automated gateway. To use the i-SIP facility, you need to have Netbanking-enabled account which needs to be KYC compliant as well. The bank where you are holding a saving account has to be the one approved to offer an i-SIP facility. You can follow these easy steps to avail an i-SIP facility. Steps to activate your SIP through SBI Netbanking:
  1. Go to SBInetbanking page
  2. Login with your credentials into your account.
  3. Select the Bill payments Tab
SIP in SBI bank-Welcome 4. Select Manage Bills from the left side column. SIP in SBI bank-Manage Biller 5. Select the Add tab to register new biller SIP in SBI bank-Add Biller 6. Select the mutual fund company that you wish to add from the drop down list (Eg: Axis mutual fund) SIP in SBI bank-Select mutual fund 7. You will come to the manage biller details screen. Enter the following as described in the image below:
  • Add any nick name to identify the SIP(Eg: Axis SIP)
  • Add unique registration number(URN) for that fund shared with you.
  • Set Auto Pay required as Yes.
  • Leave Auto Pay limit blank
  • Select account from which money should be deducted.
  • Click submit
SIP in SBI bank-Biller details 8. Enter the OTP received on your mobile phone. 9. Click confirm to complete mutual fund SIP registration. SIP in SBI bank-Confirm Biller  

Why should you do this?

  • Hasslefree – You do it once and every month your investments get done automatically.
  • Paperless – No need to sign any cheques or courier any documents.
  • Secure – It’s completely safe as all your investments go through your net banking account.