Add i-SIP URN Number in HDFC Net Banking

What is an i-SIP facility?

i-SIP stands for internet-based Systematic Investment Plan facility. This facility allows you to set up SIP online and is a total paperless method. After you have setup SIP via i-SIP facility, you need to add Asset Management Company (AMC) which is a Mutual fund house as a biller. You can add AMC as a biller in your bank via internet banking. iSIP in every scheme follows the same process. So, you will have to repeat this process to set up SIP in every scheme.

The purpose of choosing AMC as a biller is because it provides the bank with your monthly bills. While selecting the biller, you can opt for auto-pay option. Under this option, the payment will automatically be deducted from your account.

To avail this facility, certain conditions need to be fulfilled

• A bank account with Netbanking facility and is compliant with KYC
• The bank where you have your savings account should be eligible to offer the i-SIP facility

A step-by-step guide on activating SIP via internet banking

Follow the steps mentioned below to set up SIP via HDFC internet banking facility.

• To begin, visit the netbanking portal of HDFC bank. To visit the link, click on the link mentioned below:
  https://netbanking.hdfcbank.com/netbanking/
• Log in the net banking portal by using your account credentials.
• After successful login, click on BillPay & Recharge tab available on top of the page.
• After this, click on Continue. You will be redirected to another page once you click on Continue.
• You will be taken to a different page. Here you’ll see a screen similar to the one mentioned above. Once you have reached there, you need to click on Add Biller which is available on the right side of the screen.
• Once you have clicked on Add biller, you will have to select one option from the plethora of categories available. Choose Mutual funds for i-SIP.
• You will see a dropdown list of all the Asset Management Companies. Select your AMC.
• Once you have selected your AMC, you will be asked to fill in some information.
  1. You will be asked to choose a Nick name for your biller. Make sure you are choosing something which is descriptive in nature and can be easily identified.
  2. Fill in Unique Registration Number (URN). URN for this fund will be shared with you.
  3. Under Set Standing Instruction, choose Yes. With this, the amount will be automatically deducted from the bank account on a monthly basis. With this, you don't have to worry about paying every month.
  4. For the next option Pay Entire Bill Amount, select Yes.
  5. On the next step, select Payment method. You can opt between debit card/credit card/bank account. If you click on Bank account, you will have to choose a bank account from the drop-down list.
• Once you have filled in all the information, click on Add Biller.
• The next screen will show you the summary of the details you entered and you will be asked to verify.
• To verify, click on Continue.
• Once verified, you will see a success message confirming your biller. It is advisable that you take a printout of the confirmation message which might be useful for future reference.