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:
- Go to SBInetbanking page
- Login with your credentials into your account.
- Select the Bill payments Tab
- 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
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.