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Thursday, June 14, 2012

How to register Mutual Fund SIP online - step by step process


An existing mutual fund investor, who has a User id and Transaction Pin, can avail of this facility by logging in on mutual fund website.Once you have logged in to mutual fund website, click on 'Register for SIP' and follow the instructions which will guide you through the entire process. 

  • Fill the registration form- SIP Details 
  • Confirm your registration 
The SIP confirmation page will be displayed. To change any details, click on EDIT. Check for correctness and click CONFIRM. 

 Upon clicking CONFIRM, a summary page will be displayed mentioning the Transaction Number and the SIP Registration Number (SRN)

  •   Registration of Biller in your Net Banking Account
 (This step is very important for execution of your registration and regular debit of your SIP).

  •  Login to your banks website and register Mutual fund as a Biller.

In order to complete your SIP registration with your bank, please log on to your bank’s net banking facility and register for auto debit instructions of your SIP installment directly from your account. It is recommend that you select the auto-payment option.

 Please input the SIP Registration Number (SRN) in the field requesting the Biller Reference Number.

Note your SIP Registration Number (SRN)/Unique Registration Number (URN) for future reference 


Important points to relater to SRN Number 

  • Please complete your SIP registration with your bank within 10 days from today. 
  • The SRN will be invalid if the registration on your bank's website is not completed within the specified period.
  • If the SIP registration with your bank is not completed by you, units created in your folio for the aforesaid SIP, if any, will be reversed.
 Example:
SIP Registration in HDFC Mutual Fund

  



Important points related to adding mutual fund biller in your net banking account.

In your net banking Account, you need to select the option Bill Pay, check the list of Billers you can register in your bank for auto debit, check whether mutual fund is allowed in your bank account as biller, If mutual fund option is not allowed, then you can’t register sip online.

 
  • To add an AutoPay Instruction for a biller, Click on 'Set'
  • To modify or to delete an existing AutoPay instruction, click on 'Modify'
  • Addition of AutoPay Instruction for a biller or any modification of AutoPay (change or deletion of existing instructions) will be effective from the next billing cycle/payment.
  • For AutoPay setup for 'Presentment' and 'Presentment & Payment' type of billers, the bills will be paid 4 days prior to the due date.
  • For payment type of billers, AutoPay will be enabled for the amount specified by you and will be paid on the date as specified at the time of setting up the AutoPay instruction.
Process
1. Click on Bill Pay
2. Register for a New Biller
3.  Select your Bill location and category of biller
4.  Add Biller details that is SRN number (SIP Registration Number)
5. Select option Pay exact amount on due date
6. After Adding verify and confirm the details.


How to register Mutual Fund SIP online - step by step process for ICICI- Example (Register SIP for RMF)
 







 
 


2 comments:

  1. hdfc mutual fund online sip money not deducted from bank account?

    ReplyDelete
    Replies
    1. Hi Amit,

      One of my client faced similar issue, as he had registered sip online from hdfc mutual fund from his HDFC Bank Account, When i checked the details i came to know that In HDFC Bank, if you go for online sip, you have to manually click sip every month as no auto debit option is available under bill payment, If you don't click it will get expired.

      You need to visit your net banking account every month, click bill Payment option and in that click the bill (sip) link to get that deducted from your bank account.

      I guess may be in your bank you have same option of manual click every month to get the amount debited from your bank account.

      Delete

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