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The debit mandate is an authorization by the account holder to his/her bank for debiting a certain amount from the bank account on a regular basis.

It is required for the purpose of initiating SIP auto debits for investments on a regular basis.

Debit Mandate registered by means of an electronic channel is known as e-mandate. It is very similar to an NACH mandate. It uses an electronic validation instead of a physical signature and are offered directly by individual banks. This Facility is Available with Axis Bank (Net Banking), ICICI Bank & HDFC Bank (Debit Card).

It helps you to authenticate your debit mandate through electronic medium (online) for auto-debit of SIPs, instead of going for a paper-based process.

100% Paperless Mandate Registration Process Registration Time is Reduced to 3 Business Days No Separate Documents/Proofs Required Uses Secure Online Banking Services

e-Mandate Physical Mandate Type 100% Paperless Process Documents Required Registration Time 3 Business Days 30-40 Business Days Mode Online Offline Availability Axis Bank(Internet Banking), HDFC & ICICI Bank(Debit Card) All Banks Charges Rs 5 (Axis Bank), Rs 10 (HDFC & ICICI Bank) Cost of Courier

Yes, But the requested redemption amount will get credited only in the account that you have used for your initial investment, as it is registered with AMCs. However, both the accounts can be same, i.e., the account which is selected for e-mandate and the one which is filled under the Profile details.

The redemption amount will get credited in the bank account registered during initial purchase with the respective AMC.

This is the most secured process for registration of your Mandate as the details get fetched only at the bank’s end. We do not store any details of your card or Internet Banking.

A minimal charge of Rs 10 will be levied during e-mandate registration, which will be deducted from your bank account. If we compare it with the cost of sending courier, it’s far much cheaper. These charges are taken by the bank and the payment gateway. MySIPonline do not charge anything for the Mandate registration process.

Once the mandate is registered, your SIP will get debited from the next immediate month on the chosen SIP date.

By default, we have kept the Mandate limit as Rs. 1 Lakh but the amount will be deducted according to your SIP investment. The reason behind keeping this limit is to deliver you the utmost convenience. There is no need to register the debit mandate again & again until the limit of your SIP investments reach to Rs. 1 Lakh.