To enable auto-pay for your mutual fund SIPs on Angel One, you need to set up a mandate through your bank. This allows your SIP amount to be automatically debited from your bank account on the SIP due dates without manual intervention.

What is Auto-Pay for Mutual Fund SIPs?

Auto-pay is a facility where your SIP installments are automatically deducted from your bank account every month. It ensures your SIP runs without interruption and you don’t have to worry about manual payments.

How to Enable Auto-Pay for SIPs on Angel One?

To enable auto-pay, follow these simple steps:

1. Log in to your Angel One account via the app or website.
2. Select the mutual fund SIP you want to enable auto-pay for.
3. Choose the “Set Auto-Pay” or “Create Mandate” option.
4. Fill in your bank details and submit the ECS (Electronic Clearing Service) mandate form online.
5. Verify your bank account through the OTP sent by your bank.
6. Once approved, your SIP installments will be auto-debited on the scheduled dates.

Which Banks Support Auto-Pay for SIPs?

Most major banks in India support auto-pay through ECS mandates. Popular banks like SBI, HDFC, ICICI, Axis Bank, and Kotak Mahindra Bank allow you to set up auto-pay for your SIPs easily.

What Are the Benefits of Enabling Auto-Pay for SIPs?

Auto-pay ensures your SIP payments are always on time, helping you avoid missed installments. It makes investing hassle-free and helps maintain your investment discipline, which is important for long-term wealth creation.

Can You Change or Cancel Auto-Pay Mandate?

Yes, you can modify or cancel your auto-pay mandate anytime through your Angel One account or by contacting your bank. Make sure to do this before the next SIP debit date to avoid unwanted deductions.

What If Auto-Pay Fails for SIPs?

If auto-pay fails due to insufficient balance or technical issues, your SIP installment will not be deducted. You can manually pay the installment or wait for the next debit cycle. Angel One usually sends reminders to help you avoid missed payments.

How to Track Your Auto-Pay SIP Mandate Status?

You can check the status of your auto-pay mandate anytime in your Angel One account under the SIP or payments section. This helps you confirm if your mandate is active and payments are being deducted correctly.