Axis Bank is a well-known name in the private sector banking in India. This bank provides many products and services to its national and international customers with modern and dynamic banking modes. One of the many services offered by the bank includes mutual fund investment through SIPs mode. This helps the customers make hassle-free SIP payments towards their mutual fund investments without the fear of missing them.
Investing in mutual funds has become one of the key investments for every investor. In the past year itself, there has been a huge influx of new SIPs in the Indian market alone. SIPs are Systematic Investment Plans that allow the investors to make fixed and gradual investments in any mutual fund at fixed intervals. This ensures that the investor is not burdened with the financial stress of making a lump sum payment for mutual fund investments.
i-SIP is when the investors start an online SIP account for the selected mutual funds. i-SIP refers to an internet-based Systematic Investment Plan. Under this type of SIP, the investor can make the SIP payments through their net banking account with the bank. Axis bank is one of the multiple lenders in the country that provide the facility of i-SIP through the net banking facility for its customers. The prerequisites for getting the benefit of such a facility are given below.
i-SIP biller has revolutionized the mode of making SIP payments. Customers can start new SIPs easily by adding them through their net banking account and setting the payment mandate to avoid any delays or defaults in SIP payments.
Some of the important benefits of adding an i-SIP biller through Axis Bank are given below.
Apart from the above requirements, the account holder will also need to provide the URN (Unique Registration Number). This number is generated at the time of registering the i-SIP on the website of the fund selected for investment. The URN generated will be sent to the registered mobile number and email id of the account holder. This URN has to be provided along with other details while registering the i-SIP through the net banking account of Axis Bank.
The process of adding the i-SIP biller through the net banking account is quite simple and can be done within minutes at the convenience of the account holder. The process of adding the i-SIP through Axis Bank net banking is detailed below.
The process of adding the i-SIP through Axis Bank mobile banking is similar to the net banking process where the users have to start by downloading the mobile banking app and login using the MPIN. The next step is to select the option ‘Pay Bills’. Users will have to add the New Biller through a process similar to the net banking process by selecting the mutual fund and adding mandatory details along with the URN. Following this, users need to add the details like the amount of SIP and the bank details along with the mandate for Auto Pay or manual payment. The final step in the process is confirming the details and entering the MPIN again to authenticate and complete the transaction.
The above process of adding an i-SIP biller to the online banking account is a revolutionary step and allows multiple benefits to the account holders. These benefits include,
Investment in mutual funds has long been an attractive option for investors owing to the multiple benefits like ease of starting an investment, potentially higher returns than traditional investment options like PPF, Bank FDs, etc., the flexibility of investment, low cost of investment, etc. i-SIP further adds to the many benefits of mutual fund investments and can be done at any time and anyplace at the discretion and convenience of the investor.
The available investment modes of mutual funds is
1.Lump sum mode (single capital investment)
2.SIP mode (systematic consistent payment towards mutual funds)
An investor can start SIP quite easily by simply contacting the registered broker or the AMC. Investors will not need any Demat account or trading account for such investment.
Auto Pay option is where the investor can set the SIP mandate to deduct the fixed SIP amount at fixed intervals.
‘Netsecure’ code is the OTP sent to the registered mobile number and the email id of the investor. It has to be submitted to complete the i-SIP biller transaction for any mutual fund investment.
No. The investor will have to add separate i-SIPs for each mutual fund investment.
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