Is bank mandate- iSIP required for mutual funds

Personal finance
1

I hold an account with IOB and there is no option to add Mutual funds as a billing option. So i can’t register the iSIP bank mandate.
Will this create an issue?
Does this mean i can’t do an SIP as long as my IOB bank account is linked to my trading account?

2

Hi Eldo ,

You will be able to do SIP even if you don’t sign Mandate. Mandate makes SIPs more convenient and simpler because money transfer happens automatically. You require maintaining sufficient balance in your account before SIP day.

Check more here

1 Like
3

Hi Akshay,
Thabk you for the reply