{"id":22944,"date":"2021-11-08T05:43:38","date_gmt":"2021-11-08T05:43:38","guid":{"rendered":"https:\/\/www.tatacapital.com\/blog\/?p=22944"},"modified":"2024-10-24T13:18:37","modified_gmt":"2024-10-24T13:18:37","slug":"benefits-of-using-e-nach-mandate-for-your-sip-investment","status":"publish","type":"post","link":"https:\/\/www.tatacapitalmoneyfy.com\/blog\/investment-guide\/benefits-of-using-e-nach-mandate-for-your-sip-investment\/","title":{"rendered":"Benefits of Using e-NACH Mandate for Your SIP Investment"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Is there a way to reduce the processing time for SIP registrations? Yes, through the e-NACH mandate facility for Systematic Investment Payment (SIP), you can! This facility, also called One Time Mandate (OTM), works like a charm in simplifying the registration and subsequent transaction process for SIP investments.<\/p>\n\n\n\n<p>With OTM activated successfully, you can transact in a secure and paperless manner, without needing to sign multiple cheques or knock on the registrar&#8217;s doors. Here&#8217;s how.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The registration process is entirely digital<\/strong><\/h2>\n\n\n\n<p>With a digitised end-to-end registration process, you can file for SIP registration and reap the following benefits:<\/p>\n\n\n\n<ul>\n<li><strong>Reduced time \u2013 <\/strong>Since the overall registration process happens online, there are no physical touchpoints. You&#8217;re not mandated to sign forms offline, compressing the registration cycle from a tedious 30 days to a mere 2-3 working days only. Besides, the steps involved are simple and only need to be done once, so you can start investing sooner. <strong><\/strong><\/li>\n<\/ul>\n\n\n\n<ul>\n<li><strong>Automate transactions \u2013 <\/strong>With the OTM facility, you can issue a debit mandate for a fixed amount, which will be debited safely from your bank account monthly and credited towards your SIP portfolio without default. This ensures you&#8217;re always on track and never miss out on a monthly payment while also encouraging financial discipline. <strong><\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Additional Read: <\/strong><a href=\"https:\/\/www.tatacapitalmoneyfy.com\/blog\/sip\/how-much-should-i-invest-in-sip\">How Much Should I Invest in SIP?<\/a>\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>There is a reduced margin of error<\/strong><\/h2>\n\n\n\n<p>Down the line, if you&#8217;d like to open a subsequent SIP scheme, you can register for it under the same OTM. Just make sure the aggregate value of your combined SIPs isn&#8217;t above the specified mandate limit, and you&#8217;re good to go.<\/p>\n\n\n\n<p>OTM facility eliminates the need to fill out multiple auto-debit instruction forms or provide cancelled cheques.<\/p>\n\n\n\n<p>Besides, unlike the OTM service, several things could go wrong if you opt for a physical mandate.<\/p>\n\n\n\n<ol type=\"a\">\n<li>There could be physical delays due to the mishandling of the form.<\/li>\n\n\n\n<li>Offline NACH forms usually involve signatures. If there are any discrepancies or overwriting in the form, the process gets delayed further.<\/li>\n<\/ol>\n\n\n\n<p>Most of these errors can be eliminated using OTM services, so you can condense the registration cycle and start <a href=\"https:\/\/www.tatacapitalmoneyfy.com\/mutual-funds\">mutual fund<\/a> investments as early as seven days from the registration date.<\/p>\n\n\n\n<p>There are also lower regulatory and payment failure concerns since the National Payments Corporation of India (NCPI), regulated by RBI, overlooks this electronic system. So even if there&#8217;s a technical glitch, you can rest assured of a successful transaction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Things to remember<\/strong><\/h2>\n\n\n\n<ul>\n<li>Also, your bank must be National Payment Council of India (NPCI) registered to avail of OTM.<\/li>\n\n\n\n<li>Presently, the OTM facility is only available for investors holding the fund in single or solo mode. Joint investors are excluded from the beneficiary group. <strong><\/strong><\/li>\n\n\n\n<li>As of now, you&#8217;re only permitted to make investments of up to Rs. 10 lakhs via the OTM facility. <strong><\/strong><\/li>\n<\/ul>\n\n\n\n<p><strong>Additional Read: <\/strong><a href=\"https:\/\/www.tatacapitalmoneyfy.com\/blog\/sip\/benefits-of-one-time-mandate-in-sip-autopay-option-for-sip\">Benefits of One-Time Mandate in SIP: Autopay Option for SIP<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The bottom line<\/strong><\/h3>\n\n\n\n<p>OTM facility is one of the most convenient, seamless, and quickest ways for SIP investment. If you&#8217;re scouting the web to find the perfect SIP scheme for your investment goals, look nowhere else. With Tata Capital&#8217;s <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.tatacapital.moneyfy&amp;hl=en\">Moneyfy app<\/a>, now find all your SIP related information in the same place. Download today!<\/p>\n\n\n\n<div class=\"wp-block-group alignwide is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns alignwide is-layout-flex wp-container-5 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.tatacapital.moneyfy&amp;hl=en\">Download Moneyfy App<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\"><\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Is there a way to reduce the processing time for SIP registrations? Yes, through the e-NACH mandate facility for Systematic Investment Payment (SIP). <\/p>\n<p><a href=\"https:\/\/www.tatacapital.com\/blog\/investments\/benefits-of-using-e-nach-mandate-for-your-sip-investment\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":22945,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[68],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Benefits of Using e-NACH Mandate for Your SIP Investment - Tata Capital Moneyfy<\/title>\n<meta name=\"description\" content=\"Are you looking for a way to reduce the processing time for SIP registrations? If yes, e-NACH mandate is the solution. 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