What is a NACH Mandate/ One-time Mandate?
A NACH Mandate/One-time Mandate is a standard instruction that an investor provides to their bank/financial institution to enable periodic fund transfers from their bank account towards recurring investments such as mutual funds, SIPs, and Smartfolios. An e-NACH Mandate is a digitised version wherein a mandate can be set up online.
With FundsGenie, you will be giving BSE the authorisation to withdraw funds from your bank account on the selected SIP installment date. Following approval, the selected amount will be automatically transferred towards your investments as per the chosen periodicity and date.
For physical mutual fund investments, the authorisation will be given to the relevant bank of the mutual fund portfolio to debit the selected amount as per the chosen periodicity and date.