{"id":12509,"date":"2022-06-16T16:20:40","date_gmt":"2022-06-16T10:50:40","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=12509"},"modified":"2024-08-09T14:01:29","modified_gmt":"2024-08-09T08:31:29","slug":"one-time-mandate-in-sip","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/","title":{"rendered":"One Time Mandate in SIP \u2013 Benefits and Registration Procedure"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d79bdeb6084\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d79bdeb6084\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#What_Is_One_Time_Mandate_OTM_in_SIP\" title=\"What Is One Time Mandate (OTM) in SIP?\">What Is One Time Mandate (OTM) in SIP?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Benefits_of_Adding_OTM_to_SIP\" title=\"Benefits of Adding OTM to SIP\">Benefits of Adding OTM to SIP<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Hassle-free_registration_process\" title=\"Hassle-free registration process\">Hassle-free registration process<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Security\" title=\"Security\">Security<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#No_limits_on_the_number_of_SIP_instalments\" title=\"No limits on the number of SIP instalments\">No limits on the number of SIP instalments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Financial_discipline\" title=\"Financial discipline\">Financial discipline<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#How_to_Automate_SIP\" title=\"How to Automate SIP?\">How to Automate SIP?<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Setting_up_Auto-pay_via_OTP\" title=\"Setting up Auto-pay via OTP:\">Setting up Auto-pay via OTP:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#What_Transactions_Can_Be_Carried_Out_Via_the_OTM_Facility\" title=\"What Transactions Can Be Carried Out Via the OTM Facility?\">What Transactions Can Be Carried Out Via the OTM Facility?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#New_SIPs\" title=\"New SIPs\">New SIPs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Fresh_lump_sum_investments\" title=\"Fresh lump sum investments\">Fresh lump sum investments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#How_to_Register_for_the_OTM_facility\" title=\"How to Register for the OTM facility?\">How to Register for the OTM facility?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#How_can_you_set_up_One_Time_Mandate_on_Kuvera\" title=\"How can you set up One Time Mandate on Kuvera\">How can you set up One Time Mandate on Kuvera<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#How_to_Setup_e-Mandate_for_SIP\" title=\"How to Setup e-Mandate for SIP?\">How to Setup e-Mandate for SIP?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Final_Word\" title=\"Final Word\">Final Word<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Do_I_need_to_have_an_account_with_a_specific_bank_to_avail_the_OTM_facility\" title=\"Do I need to have an account with a specific bank to avail the OTM facility?\">Do I need to have an account with a specific bank to avail the OTM facility?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#What_is_the_applicable_NAV_for_payment_made_through_OTM\" title=\"What is the applicable NAV for payment made through OTM?\">What is the applicable NAV for payment made through OTM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#What_is_the_validity_period_for_NACH\" title=\"What is the validity period for NACH?\">What is the validity period for NACH?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/#Interested_in_how_we_think_about_the_markets\" title=\"Interested in how we think about the markets?\">Interested in how we think about the markets?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">Most investors choose a Systematic Investment Plan (SIP) because it is more affordable and minimizes the impact of market volatility. Additionally, it provides high returns irrespective of the condition in the market.\u00a0 <\/span><span style=\"font-weight: 400;\">When investors open a new SIP, they must provide their bank details and set standing instructions for subsequent payments. In this way, a specific amount gets auto-transferred from the bank account every month on a particular date.\u00a0 <\/span><span style=\"font-weight: 400;\">Read on to learn about the details of One Time Mandate in SIP.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><b><a href=\"https:\/\/kuvera.in\/dl\/v2\/?redirect_to=dashboard-invest\/all\/invest-sip?source=blog\"><img loading=\"lazy\" class=\"alignnone wp-image-29759\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-1024x256.png\" alt=\"Start SIP on Kuvera\" width=\"600\" height=\"150\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-1024x256.png 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-300x75.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-768x192.png 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-1536x384.png 1536w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-2048x512.png 2048w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-150x38.png 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/b><\/h4>\n<p>&nbsp;<\/p>\n<h2 style=\"color: black; font-size: 20px;\"><span class=\"ez-toc-section\" id=\"What_Is_One_Time_Mandate_OTM_in_SIP\"><\/span>What Is One Time Mandate (OTM) in SIP?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">One Time Mandate is a one-time registration procedure for auto payments. It is a convenient option because the investor doesn&#8217;t have to transfer the money manually anymore while <a href=\"https:\/\/kuvera.in\/blog\/sip-systematic-investment-plan-definition-types-benefits\/\">SIP investment<\/a>.\u00a0 <\/span><span style=\"font-weight: 400;\">A person must instruct the bank to debit a specified amount of money from their savings account and credit the same to the mutual fund scheme at periodic intervals.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"color: black; font-size: 20px;\"><span class=\"ez-toc-section\" id=\"Benefits_of_Adding_OTM_to_SIP\"><\/span>Benefits of Adding OTM to SIP<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you don&#8217;t want to miss making monthly payments toward your mutual fund investments, you should opt for One Time Mandate. In addition, you can get the following benefits:\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Hassle-free_registration_process\"><\/span>Hassle-free registration process<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">For OTM registration, all you need to do is submit an OTM form with your signature. A financial institution usually takes 10-15 working days to complete the registration process.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Security\"><\/span>Security<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">This is a safe, secure, and fast investment mode. You should provide your bank account and <a href=\"https:\/\/app.kuvera.in\/explore\/mf\/c\/all\">mutual fund<\/a>-related information only once. Your time will not be wasted repeating the formalities.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"No_limits_on_the_number_of_SIP_instalments\"><\/span>No limits on the number of SIP instalments<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You can automate multiple SIP payments with a single OTM registration. There is no limit on the number of SIP instalments you can register under a One Time Mandate. However, you need to ensure that the net value of all SIPs combined falls under the specified limit.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Financial_discipline\"><\/span>Financial discipline<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Automated payments at pre-set periodic intervals instill financial discipline in investors. This process, in turn, helps in financial success.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"color: black; font-size: 20px;\"><span class=\"ez-toc-section\" id=\"How_to_Automate_SIP\"><\/span>How to Automate SIP?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You can automate your SIP via the popular auto-debit instrument \u2014 One Time Mandate. Nearly every bank offers OTM services. You can set up auto-pay services both via OTP and Form.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Setting_up_Auto-pay_via_OTP\"><\/span>Setting up Auto-pay via OTP:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Following are the steps to set up auto-pay with OTP:<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 1:<\/strong> Open your bank&#8217;s online account<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 2:<\/strong> Select the &#8216;set up auto-pay option and click on the &#8216;continue\u2019 button.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 3:<\/strong> Provide the OTP you receive on your registered mobile number in the designated space.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 4:<\/strong> On the redirected page, verify your bank account details. Use either net banking or debit card details.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 5:<\/strong> You will be redirected to a page where you should provide the required details for completing the login and verification procedures.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 6:<\/strong> On the redirected page, confirm the details and choose &#8216;secure login.&#8217;<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 7:<\/strong> After the confirmation, you will receive the necessary details like reference ID, acceptance reference number etc. Save the information for future reference.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"What_Transactions_Can_Be_Carried_Out_Via_the_OTM_Facility\"><\/span>What Transactions Can Be Carried Out Via the OTM Facility?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You can do the following transactions through the OTM facility:\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"New_SIPs\"><\/span>New SIPs<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You can easily initiate new SIPs through the OTM service. You don\u2019t have to submit a cancelled cheque or bank details.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote><p>Wealth for your financial goals from just \u20b9500 per month. <a href=\"https:\/\/kuvera.in\/dl\/v2\/?redirect_to=dashboard-invest\/all\/invest-sip?source=blog\">Start SIP<\/a> now.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Fresh_lump_sum_investments\"><\/span>Fresh lump sum investments<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You can use your bank account to make fresh payments for your investments based on the prescribed OTM limit of the bank.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"How_to_Register_for_the_OTM_facility\"><\/span>How to Register for the OTM facility?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Follow these steps to register for the OTM facility:\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 1:<\/strong> You need to fill out the OTM form correctly.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 2:<\/strong> Provide your personal information, including contact details, information about the account holders of the linked bank accounts and signatures of all the account holders.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 3:<\/strong> Provide every bank detail, including its name, bank branch information, and IFSC.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 4:<\/strong> Enter the details of the bank account. You need to provide the bank account number and the type of bank account.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 5:<\/strong> Provide your investment details, including the investment folio number.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 6:<\/strong> Choose the OTM tenure and payment frequency. It can be monthly, quarterly, half-yearly, or as set by you. Remember that the fixed option is ideal for SIPs.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 7:<\/strong> Submit the form to the financial institution.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"How_can_you_set_up_One_Time_Mandate_on_Kuvera\"><\/span>How can you set up One Time Mandate on Kuvera<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 1:<\/strong> Download the Kuvera app or visit our website and sign up.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 2:<\/strong> Complete your KYC with PAN, Aadhaar, and In-person verification through video. It is mandatory to complete KYC compliance under the Prevention of Money Laundering Act, 2002 and Rules framed there under, read with the SEBI Master Circular on Anti Money Laundering (AML) Standards\/ Combating the Financing of Terrorism (CFT) \/Obligations of Securities Market Intermediaries.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 3:<\/strong> Select the \u2018Invest\u2019 option from \u201c Home\u201d<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 4:<\/strong> Select \u2018Mutual Funds\u2019, and see the categories listed, or check All Mutual Funds<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 5:<\/strong> You will be directed to a list of all mutual funds available in Kuvera. By clicking on every mutual fund scheme, you can check its risk profile, net asset value, and past performance. In this section, we have included the performances of its counterparts to help you compare. To be sure, check the exit load and lock-in periods of the mutual fund. This will help you decide if you are ready for a commitment of the mentioned years.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 6:<\/strong> Select the MF scheme you want to invest in, and tap on SIP investment. Enter the amount on the next screen and tap on \u201cBuy now\u201d, or \u201cAdd to cart\u201d.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 7:<\/strong> Under the payment option, you will find, \u2018Mandate\u2019. You can select that.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 8:<\/strong> You will be redirected to your bank account. Complete all the formalities and approve the process with your authorized signature.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 9:<\/strong> The first instalment will be deducted immediately, and the next instalment will be deducted based on the SIP date (Please note that the next instalments are deducted after around 30 days).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 10:<\/strong> The next step is to approve a mandate of Rs 1 lakh for the deduction of SIPs. The mandate is approved by the bank for the next instalments of SIPs, and it normally takes 3-4 days for approval. <\/span>The amount of money will be deducted only based on the instructions you provide in your SIP. For example, if you have registered for Rs 30,000 through SIP, only that much will be deducted. If your daily SIPs exceed 1 lakh, you can choose to setup the SIPs for a different date.<\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"How_to_Setup_e-Mandate_for_SIP\"><\/span>How to Setup e-Mandate for SIP?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If your fund house allows it, you can set up an e-Mandate for SIP. Below are the steps to do so:\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 1:<\/strong> Make a plan for monthly SIP. Use an online SIP calculator if needed.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 2:<\/strong> Visit the website of the fund house. Select a fund and start a SIP.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 3:<\/strong> Choose the OTM e-mandate option for the registration of auto-payments. In all probability, you will be redirected to a payment gateway for making a transaction of a small amount. It will verify your savings account and create an OTM.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Step 4:<\/strong> The Asset Management Company might also ask for a NACH form that you fill out. In that case, you must complete and submit a NACH form and a cancelled cheque.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Final_Word\"><\/span>Final Word<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To summaries, One Time Mandate in SIP is a secure investment option. It has many benefits as well. You can easily set up auto-payments with OTP or by filling out a NACH form. If you opt for SIP, choose OTM as it would save you valuable time.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Pro tip: Start investing through a platform that brings goal planning and investing to your fingertips. Visit <\/span><a href=\"http:\/\/kuvera.in\/\"><span style=\"font-weight: 400;\">kuvera.in<\/span><\/a><span style=\"font-weight: 400;\"> to discover Direct Plans and Fixed Deposits and start investing today.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Do_I_need_to_have_an_account_with_a_specific_bank_to_avail_the_OTM_facility\"><\/span>Do I need to have an account with a specific bank to avail the OTM facility?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">No, there is no such rule. Investors can enroll for OTM facility in any bank that is a part of the NACH system.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"What_is_the_applicable_NAV_for_payment_made_through_OTM\"><\/span>What is the applicable NAV for payment made through OTM?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to SEBI regulations, transactions made through the OTM mode will be treated similarly to similar transactions carried out via other modes.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"What_is_the_validity_period_for_NACH\"><\/span>What is the validity period for NACH?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">NACH has a validity period of 31\/12\/2099.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><a href=\"https:\/\/www.kuvera.in\/dl\/v2\/?redirect_to=dashboard-invest\/fixed-deposit?source=fd_blog_banner\"><img loading=\"lazy\" class=\"alignnone wp-image-29666 size-full\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/FD-Banner-9.4-03.png\" alt=\"FD Up to 9.40% on Kuvera\" width=\"600\" height=\"150\" \/><\/a><\/h4>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Interested_in_how_we_think_about_the_markets\"><\/span>Interested in how we think about the markets?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Read more: <a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>Check out all our &#8220;Investor Education Originals&#8221; videos on Youtube and get smart about investing.<\/p>\n<p>&nbsp;<\/p>\n<p><iframe loading=\"lazy\" title=\"How to choose between Stocks &amp; Mutual funds | Explained\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/N1li1d9X0jw?list=PLDSzQdT9nLmBFD2p94O5p2pZ4vEUR-Thz\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"http:\/\/app.kuvera.in\"><strong>Kuvera.in<\/strong><\/a> to discover <a href=\"https:\/\/kuvera.in\/blog\/direct-plans-better\/\"><strong>Direct Plans<\/strong><\/a> and <strong><a href=\"https:\/\/app.kuvera.in\/explore\/fixed-deposit\/c\/all\">Fixed Deposits<\/a><\/strong> and <a href=\"https:\/\/kuvera.in\/user\/login\"><strong>start investing today.<\/strong><\/a><br \/>\n#MutualFundSahiHai #KuveraSabs<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most investors choose a Systematic Investment Plan (SIP) because it is more affordable and minimizes the impact of market volatility. Additionally, it provides high returns irrespective of the condition in the market.\u00a0 When investors open a new SIP, they must provide their bank details and set standing instructions for subsequent payments. In this way, a [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/one-time-mandate-in-sip\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":12510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[99,822,768],"tags":[986,987,988],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>One Time Mandate in SIP \u2013 Benefits and Registration Procedure<\/title>\n<meta name=\"description\" content=\"An One Time Mandate in SIP (OTM) is the process of one time registration through the bank to deduct specific amount of money to invest in SIP\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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