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:
4. Select Manage Bills from the left side column.
5. Select the Add tab to register new biller
6. Select the mutual fund company that you wish to add from the drop down list (Eg: Axis mutual fund)
7. You will come to the manage biller details screen. Enter the following as described in the image below:
8. Enter the OTP received on your mobile phone.
9. Click confirm to complete mutual fund SIP registration.
Why should you do this?