A bank mandate is a one-time authorisation that allows FYERS to automatically debit your bank account or UPI for mutual fund investments. It eliminates the need to manually approve each transaction, making SIPs and one-time investments seamless, secure, and paperless.
When you set up a bank mandate on FYERS, you give permission for FYERS to deduct funds—up to ₹1,00,000—from your registered account to invest in mutual funds on your behalf.
This makes mutual fund investing efficient, especially for Systematic Investment Plans (SIPs), as the amount is automatically debited on your chosen SIP date.
Once the mandate is approved, it becomes available for all future SIP and one-time investments using the same bank account.
Scenario | Explanation |
---|---|
You choose e-mandate | Complete the process online and authorise via UPI or Net Banking. Takes 3–4 days to activate. |
You want to increase the mandate limit | You’ll need to cancel the current mandate and create a new one with a higher limit. |
Your mandate is pending approval | Wait for bank confirmation; transactions cannot be processed until it's active. |
Last updated: 11 Jun 2025