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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 Netbanking:

  1. Go to your Netbanking page.
  2. Login with your credentials into your account.
  3. Go to Payments/Pay Bills/Bill payments Section.

SIP in Axis bank-Welcome

4. Select Add New Biller and choose Mutual Fund as biller category if applicable.

SIP in Axis bank-Add biller

5. Select the mutual fund company that you wish to add (Eg: Axis mutual fund) and Click on Next.

SIP in Axis bank-select mutual fund

6. You will come to the biller details screen. Enter the following as described in the image below:

  • Add a biller short name/nick name to identify the SIP(Eg: Axis SIP)
  • Add unique registration number(URN) for that fund shared with you.
  • Set Payment type as Auto Pay.
  • Select account from which money should be deducted.
  • Set Pay entire bill amount as Yes.
  • Set auto pay limit as NA.
  • Click Next

SIP in Axis bank-biller details

7. Preview the details you have entered and click on Next.

SIP in Axis bank-preview details

8. Enter the OTP received on your mobile.

9. Click confirm to complete mutual fund SIP registration.

SIP in Axis bank-confirm biller

10. You will see that the biller has been approved on the confirmation screen.

SIP in Axis bank-biller confirmation

11. You can view the added billers under My billers section.

SIP in Axis bank-view/delete billers

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.

Frequently Asked Questions

  • Is the auto pay option have any charges ?


    No, this facility is free of charge, no extra charge.

  • Within how many days should I use the URN ?


    URN generated will be valid for 10 calendar days, after that you won’t be able to use it, as it won’t be available

 

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