Finance Guru Speaks: Nowadays almost all the Mutual Fund Houses are giving Online options to invest directly in mutual funds through SIP from their Websites. Once you place the request for SIP investment, fund houses share URN (Unique Registration No.) with you which needs to be added in your registered Bank website so that SIP amount gets auto-deducting from the Bank account.
This article will provide you information on how you can register for Mutual Fund SIP in your Kotak Mahindra Bank account through Internet Banking facility. We will be using Bill Pay facility present in the Internet banking for our SIP deductions.
As an example, we have taken SIP amount of Rs 3000 in ICICI Prudential Mutual Fund and would be registering for SIP deduction. You can choose any Mutual Fund house for SIP and follow the below Steps if the fund house allows Kotak bank for SIP registration.
Steps to follow to start Mutual Fund SIP Auto-Payment using Kotak Mahindra Internet Banking:-
1. Open Kotak Mahindra Bank Online Banking Website. Provide your login details like CRN (Customer Relationship Number) and Password.
2. Generate the Dynamic Access Code. It will be send to your registered Email ID and Mobile Number. Provide the Dynamic Access Code and click on SECURE LOGIN.
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| Kotak Mahindra Bank Login Page |
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| Generate Dynamic Access Code |
3. Once the Home Page gets opened, go to BillPay/Recharge -> My Billers -> Add Biller / Instant Pay link as shown below :-
4. Select Mutual Funds option and Company name as ICICI Prudential Mutual Fund (or any other Fund house name of your wish). Click on Continue :-
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| Kotak Mahindra Bank - Add Biller |
4. Select Mutual Funds option and Company name as ICICI Prudential Mutual Fund (or any other Fund house name of your wish). Click on Continue :-
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| Kotak Mahindra Bank - Add Mutual Fund for SIP |
5. Provide details like URN, Transaction ID, SIP amount etc. Select your Kotak Account No. and click on Add biller button as shown below :-
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| Kotak Mahindra Bank - Add Mutual Fund SIP |
6. Check all the details carefully and click on Confirm button :-
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| Kotak Mahindra Bank - Register Mutual Fund SIP |
Happy Investing!!
Images Courtesy: Kotak Mahindra Bank Website
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Finance guru Speaks