How to create an E - mandate for SIPs at Jainam ?

A mandate is a payment mechanism to automatically make payments for SIPs from the bank account. You can create a mandate at Jainam physically or via online mode.

To register an E-Mandate at Jainam for SIPs, follow the given steps:

Log in to JPlus and select Mutual Fund.
From the utilities tab, select Mandate.
Select Create Mandate. If you already have an approved mandate, then to create a new mandate, select YES.
You have 2 options: -
1. E-Nach: An online method to create a mandate.
2. Physical: - Physical method to create a mandate.
Select the E-Nach option and click on proceed.
Select your bank account from which you want funds to be debited and the amount and continue.
You will then now be redirected to the e-mandate approval gateway and authorize the e-mandate requests either by net banking or debit card.
Enter your debit card and net banking details.
Enter OTP (received on your registered mobile number in the bank) and wait till the UMRN (Unique Mandate Registration Number) is not reflected on your screen.

RELATED FACTS: -

The mandate can be used only for future SIP payments and no amount will be deducted currently. The minimum amount of payment through mandate is ₹2,00,000 per day and the maximum is ₹10,00,000 per day.

The charges for creating a mandate vary from bank to bank. Jainam does not charge anything for the registration of a mandate.

Once a mandate has been created it will be linked to a SIP to make payments automatically. Multiple sips can be linked to a single mandate but a single sip cannot be linked to multiple mandates.

Mandates cannot be linked if the SIP due date is on T +2 day. The SIP must be set at least two days before the preferred execution date. For example, if the client wants to execute a SIP on the 10^th of each month, then he needs to set it up on or before the 8^th of the current month. If the SIP is set up on the 9^th within the execution date of the 10^th, then it will start from the next month only.

The mandate created online will be active within 3-4 days of creation. Physical mandates will be active within 15 to 20 working days. To learn about creating a physical mandate, see How to create a physical mandate for SIPs at Jainam?