How Do E-Mandates Work for SIPs on FYERS, and How Many Do I Need?
A bank mandate (e-mandate) is required to automate your SIP (Systematic Investment Plan) payments on FYERS. It allows auto-debit of funds from your linked bank account or UPI ID without manual intervention for every instalment. FYERS supports creating and managing a single mandate for all your SIPs, up to a total cap of ₹1,00,000.
What is an E-Mandate?
An e-mandate is a digital authorisation that enables FYERS to debit SIP amounts directly from your bank account or UPI. This is required only for SIPs—not for one-time mutual fund investments.
- Applies to: All SIP transactions on FYERS
- Limit: ₹1,00,000 per day (combined for all SIPs)
- Payment options: UPI or Net Banking
- Validity: Until cancelled or replaced
You can use one active mandate for multiple SIPs, as long as the total does not exceed the ₹1,00,000 cap.
Steps to Create an E-Mandate on FYERS
Method 1: During SIP setup
On FYERS App
- Open FYERS App
- Tap the menu and go to Mutual funds
- Select a fund and click SIP
- Enter amount, frequency, and date
- At the payment step, choose Create mandate
- Select UPI ID or bank account and authorise the request
- Once approved, your mandate is linked to all SIPs
On FYERS Web
- Log in to FYERS Web
- Go to Mutual funds from the menu
- Select a fund and click SIP
- Enter amount, frequency, and date
- At the payment step, choose Create mandate
- Select UPI ID or bank account and authorise the request
- Once approved, your mandate is linked to all SIPs
Method 2: From the 'Mandates' tab under Funds
On FYERS App
- Open FYERS App
- Tap on Funds available > Mandates > Mutual funds
- Tap Create mandate
- Enter UPI ID or choose a bank account
- Complete authorisation via UPI app or Net Banking
- Mandate status can be tracked in the same tab
On FYERS Web
- Log in to FYERS Web
- Navigate to Funds > > Mandates > Mutual funds
- Click Create mandate
- Enter UPI ID or choose a bank account
- Complete authorisation via UPI app or Net Banking
- Mandate status can be tracked in the same tab
How do Mandates Limit Work?
- Only one active mandate is needed for all SIPs
- Total SIP value across funds must stay within ₹1,00,000
- Exceeding this cap requires setting up a new mandate
- Mandate applies to all SIPs placed via both FYERS App and Web
What If...
| Scenario | Explanation |
|---|
| You don’t complete UPI or bank authorisation | The mandate won’t be created. SIPs cannot proceed. |
| You try to exceed the ₹1,00,000 limit | You'll be prompted to set up a new mandate or lower the SIP value. |
| You already have an active mandate | All new SIPs will auto-link to it. No action needed. |
| You want to change or cancel the mandate | Delete linked SIPs, revoke the mandate via your bank, then create a new one. |
| Mandate status shows pending | Activation can take 3–5 working days. Track under the Funds > Mandates section. |
Last updated: 12 Sep 2025
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