E-Mandate Launched! Registration of Bank Mandate for SIP is Now Paperless
With immense happiness and contentment, the team of MySIPonline has brought another new experience for the potential clients. We have launched the facility of e-mandate for a completely paperless investing experience in mutual funds. As we always try to serve the best to the investors to allow them a hassle-free and simplified investment process.
Launching the e-mandate feature is one more initiative to create the process of investing online more efficient. So you can also enjoy its benefits just on your fingertips. Let’s know in detail the meaning of e-mandate & how you will get benefited by this facility:-
What is E-Mandate?
e-mandate allows you to electronically authorise the debit order to the bank. In short, it helps you to allow the bank online for the debits of your SIP investments. 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 an electronic medium (online) for auto-debit of SIPs, instead of going for a paper-based process. Therefore, you can process your mandate in lesser time by doing it online than doing it in physical mandate process.
Benefits of E-Mandate:
- The completely automated process of e-mandate helps you to create hassle-free registration for your SIP investments.
- It is completely a secure process and can be assessed via Net Banking Platforms.
- It is completely a paperless process and very convenient for the investors.
- It takes only 3 business days to complete the process through e-mandate, whereas the physical mandate registration takes nearly 30-40 days to complete the entire process.
- It also notifies the successful registrations to the investors, and in case of rejection it sends timely updates to the clients.
- Completely secured process as it is done through online banking services.
So, now you can register your debit mandate more easily and reap the benefits of investing through our platform. Our team has always been combining the efforts for making things productive for you. Each time we achieve something new for you, we share because we care. If you are still not our client then get associated right away to fetch the excellent benefits of investing in mutual funds online.
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