If you're planning to invest in multiple Systematic Investment Plans (SIPs) on FYERS, the good news is you don't need a separate mandate for each. You can comfortably manage multiple SIPs in different mutual funds under a single mandate. Just ensure that the combined amount for all SIPs remains below the mandate's specified limit. At FYERS, this limit is set at ₹1,00,000.
How mandate limits work for multiple SIPs?
FYERS requires a one-time mandate authorisation through UPI or net banking. This mandate covers all your SIPs, provided the total combined SIP investment amount stays within the mandate limit.
- Mandate limit: ₹1,00,000 per user
- Covers: All SIPs across mutual funds linked to the same mandate
- Platform validity: Applicable across FYERS Web and Mobile
For example, if you initiate three SIPs of ₹5,000, ₹7,000, and ₹8,000 respectively, the total ₹20,000 remains within the ₹1,00,000 cap. No new mandate is needed unless you exceed this limit.
How to set up your SIP mandate on FYERS?
- Log in to your FYERS account (Web or Mobile).
- Navigate to 'Mutual Funds' from the main menu.
- Choose your desired mutual fund and click 'Start SIP'.
- At the payment step, choose to create a mandate.
- Select the UPI or bank account from which funds will be debited.
- Approve the mandate and begin investing.
Once this mandate is active, you can use it for all future SIPs as long as you stay within the ₹1,00,000 cap.
What if?
Scenario | Explanation |
---|
You try to create a new SIP that exceeds the mandate cap | You'll be prompted to create a new mandate or reduce the SIP amount |
You have multiple bank accounts | Only the account used for the active mandate can fund SIPs |
You want to cancel or change the mandate | You must delete existing SIPs linked to the mandate and then revoke it from your bank interface before setting a new one |
You already have a mandate but it's inactive | Activate it in the FYERS platform or reinitiate the setup for a new one |
Make sure to monitor your total SIP commitments regularly so you don’t unintentionally exceed the ₹1,00,000 mandate cap.
Last updated: 11 Jun 2025
Related Articles
How can I restart my closed SIPs on FYERS?
We makes it easy to restart a previously cancelled SIP. This helps you resume your investment plan in the same mutual fund scheme without re-selecting it manually. Steps to restart a closed SIP Log in to FYERS (Web or Mobile). Go to the 'Orders' ...
Will I receive reminders for upcoming mandates?
Yes, FYERS sends reminders for most upcoming fund transfer mandates so you can stay informed and prepared. The timing of these reminders depends on the frequency of your mandate type. When You Will Receive Mandate Reminders Mandate Type Reminder ...
How to exit multiple positions at once in FYERS?
Use this feature to close multiple open positions together with one action, especially useful during fast market moves or before market close. Steps Go to the Portfolio section in FYERS — Positions will open by default. Click the red bulk exit icon ...
What is FYERS Next?
FYERS Next is the desktop-based trading platform developed by FYERS, designed for advanced traders and investors seeking a robust, customizable terminal for executing trades across multiple asset classes. It provides real-time data, advanced tools, ...
How to invest in SIPs or a one-time on FYERS?
Whether you're planning a long-term SIP or a one-time lumpsum investment, FYERS makes mutual fund investing easy through its direct platform. All you need is an active Trading and Demat account with FYERS and BSE-MF segment enabled to get started. ...