Investing in mutual funds just became easy! Now you can enroll in systematic investments plans (SIPs) online using the i-SIP facility. It is an absolutely paperless facility.
Under i-SIP, you may initiate a 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 i-SIP through Kotak Netbanking:
- Go to kotak netbanking page
- Login with your credentials into your account.
- Go to BillPay/Recharge.
4. Select Click here to add a biller
5. Select the Mutual Funds option and select the mutual fund company that you wish to add (Eg: Axis Mutual Fund ISIP)
6. You will come to the 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 Autopay as Yes.
- Set Bill amount as Pay full amount.
- Set pay via bank account
- Select account number from the drop down list
- Click Add biller to save
7. Click on confirm to add the 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.