Enable i-SIP for ICICI bank:
In this section, you will find a step-by-step guide on activating your i-SIP for ICICI bank. You will also find a list of conditions you need to satisfy before you are eligible to set up.
Prerequisites for setting up i-SIP are:
- You should have your KYC documents in place as it is one of the mandatory requirement
- Your bank account should have net banking facility
- Bank housing your account should be authorised to extend the i-SIP facility
Step-by-step process:
- The first step is to visit the ICICI bank’s net banking portal. You can do so by clicking here. A screen similar to the one mentioned below should appear on your screens.
- Sign in by filling in your User Id, Password. Once you have entered the login credentials, click on ‘Log-in’.
- After logging in, you need to select ‘Manage billers’ which is available under ‘Payments and transfers’ options.
- On the next step, you will be taken to the ‘Manage billers’ section. In this section, you will see numerous options like ‘Telecom, Insurance and other utilities’, ‘ICICI bank credit card’, ‘Credit card of other financial institutions’ and two more options. You have to click on ‘Telecom, Insurance, and other utilities’.
- You will see ‘Search biller’ option for the next step. Under that, you need to fill in details like biller state, type, category, and name. You can check the image attached below for reference.
- In the same section, you will be shown a list of billers available. From that list, you need to select your Asset Management Company. Once you have selected your biller, click on ‘Next’.
- Once you have selected your biller, you will be taken to the ‘Details’ section. Under this section you need to fill in the following details:
- Nickname: it is important that your nickname is descriptive in nature. It should be easy to remember and can be used to identify the biller in future.
- Put in Registration date
- Under ‘Auto Pay required’ option, choose ‘yes’ so that the amount can automatically be deducted from your account and you don’t have to pay for it on a regular basis.
- For ‘Auto Pay mode’, select ‘full amount’.
- After this, you need to select ‘Bank account’ which needs to be used to pay for the funds.
- After the bank account, fill in your ‘Unique Registration Number’ (URN). You must check your mobile/email address for URN.
- In the last, you need to agree to ‘terms and conditions’ before you can proceed further.
- Once you have clicked on ‘Next’, you will be taken to a ‘Confirmation’ screen. Verify the details mentioned and click on ‘Submit’.
- Post this, you will be again taken to ‘Manage billers’ section. Under this section, you will be asked to approve your biller by filing in OTP which you must have received within 15 minutes after registering for SIP. You need to check your registered mobile number for OTP.
- To approve your biller, look for ‘My registered billers’ at the end of the ‘Manage billers’ section. Click on ‘view’ under ‘My registered billers’.
- You will be taken to ‘Confirm Registration’ section. Select your biller from under ‘Pending Registrations’ list.
- After selecting the biller, fill in the OTP against the ‘Unique Reference Number’ box. Click on ‘confirm’ after filing the OTP.
- On the next screen, you will see a success message confirming your registration. It is advisable that you take a print out of this message or save it somewhere. It might be useful for future reference.
Frequently Asked Questions
Q- Which ICICI bank’s mutual funds are worth investing in?
Some of the best ICICI mutual funds are ICICI Prudential Nifty Next 50 Index Fund, ICICI Prudential Equity & Debt Fund, ICICI Prudential Focused Bluechip Equity Fund, ICICI Prudential Liquid Fund, and ICICI Prudential Technology Fund.
Q- Is there any difference between ICICI bank’s SIP and others?
There is no difference between the ICICI bank’s SIP and others. SIP operates in the same way for all the banks. ICICI mutual fund SIP fixes an amount which is debited from the investor’s account on a regular basis.
Q- What is the holding period of SIP investments?
3 years is the holding period of SIP investments. But financial advisors suggest that you invest in SIP for more than 5 years. Investments for a longer period have a possibility of higher returns.
Q- Can SIP be opened online?
Yes, SIP can be opened online. But before starting your SIP online, you need to fulfill the KYC requirement. You can fulfill these requirements via e-KYC. Majority of the fund houses support this facility. Alternatively, you can also visit KYC registration agencies to open SIP online.
Q- How can I get urn number in Icici Bank?
Ans: URN number is generally needed to add/confirm a payee/beneficiary to make an online transfer of funds from an ICICI bank account. In case of resident customers, you can obtain URN by sending URN <space> <payee nickname> as an SMS to 5676766 or 9215676766. In case of NRI customers, you need to call the customer care to confirm the addition of payee.
Q- How do I link my SIP to my bank account?
Ans: Yes, You can change the bank account linked to a SIP mutual fund by giving the necessary bank mandate signed by you to the authorities. The necessary form is available in the respective website.
Q- How can I add urn in Icici mutual fund?
Ans: You can add URN in ICICI mutual fund by logging into ICICI net banking page and going to Payments & Transfer > Bill Payments > Register > Mutual Fund Option.
Q- How can I use SIP in Icici Bank?
Ans: Visit any ICICI Bank branch or Click here to download the Registration Form. After filling the Registration Form (duly signed by all the account holders) ,submit the Form along with the requisite documents at any ICICI Bank branch.
Q- How can I use SIP in Icici Bank?
Ans: The Steps to activate your SIP through ICICI Net Banking are : Go to ICICI netbanking page. Login to ICICI bank . Go to Payments & Transfer > Bill payments. Click on Register. Select Mutual Fund Option. Choose mutual fund you wish to add (Eg: HDFCmutual fund). You will come to the biller details screen. Enter the details asked. Click on submit. Enter OTP received on your mobile. Click confirm to complete mutual fund SIP registration.
Q- How do I get an urn number?
Ans: URN number is generally needed to add/confirm a payee/beneficiary to make an online transfer of funds from an ICICI bank account. In case of resident customers, you can obtain URN by sending URN < space> <payee nickname> as an SMS to 5676766 or 9215676766. In case of NRI customers, you need to call the customer care to confirm the addition of payee.
Q- How can I activate I safe in Icici Bank?
Ans: ICICI Bank has launched 'i-safe' a mobile application which will help you generate OTP on your mobile handset instead of receiving it through SMS. The process to register on i-safe mobile application is as follows. Download application on registered mobile. Set PIN on Internet Banking. You will require Pin to receive OTP An SMS will be sent to your registered mobile number which will contain an activation link. click on the link to activate the 'i-safe' mobile application.Generate OTP on your mobile handset using the 'i-safe' mobile application. Enter this OTP in 'Verify i-safe OTP' option available in the 'i-safe' tab after logging into your Internet Banking account.
Q- How do I pay SIP installment manually?
Ans: You can always do manual SIP. Do manual transfer on the day which you marked for investment.
Q- How can I register urn in Axis Bank?
Ans: Login to the Bank's Netbanking website.Go to the Bill Pay or Biller Registration section. Add / Select Axis Mutual Fund from the Biller list in the drop down. Enter the given URN.
People also ask
- Deductions under Chapter VI A
- Section 80C: Deductions & Tax Savings Investment Options
- Section 80CCC: Deduction for Contribution towards Pension Funds
- Section 80CCD: Deduction for APY & NPS Contribution
- Section 80CCD(1B) : Deductions & Tax Benefits For NPS Scheme
- Section 80CCG: Rajiv Gandhi Equity Saving Scheme (RGESS)
- Section 80RRB: Deductions on Income from Patent Royalty
- Section 80QQB: Deductions for Royalty Income of Authors
- Section 80D: Deduction for Medical Insurance & Preventive Check-Up
- Section 80E: Deduction for Interest on Education Loan
- Section 80EE: Deduction for Interest on Home Loan
- Section 80DD: Deduction for Expenses on Disabled Dependent
- Section 80DDB: Tax Deduction for Specified Diseases
- Section 80U: Tax Deduction for Disabled Individuals
- Income tax deduction under section 80U
- Section 80GG: Deduction for Rent Amount Paid
- Section 80GGA: Deduction for Donation for Scientific Research/Rural Development
- Section 80GGB: Tax Benefits to Indian Companies on Political Donations
- Section 80GGC: Tax Benefits to Individuals on Political Donations
- Section 80TTA: Deduction on Interest for Savings Accounts
- Section 80TTB: Tax Exemption for Senior Citizens on Interest Income
- Section-80-IA: Deductions For Gains From Industrial Undertakings
- Section 80-IC : Deductions For Certain Undertakings in Special States
- Section 80JJAA: Deduction For Employment of New Employees
- Section 80LA : Deduction For Certain Income Of Offshore Banking Units
- Section 80G: Deduction For Donations To Charitable Institutions
- Tax Benefits on Children Education,Tuition & School Fees Under 80C
- Section 80ID: Deduction For Profit From Business Of hotels
Related Searches
- ULIP – Unit Linked Insurance Plan
- Income Tax on Loan Taken from Friends or Relatives
- PPF - Public Provident Fund - Interest, Benefit & Withdrawals
- Tax Benefits On Insurance Policies – Section 80C
- Taxes can help you reduce the cost of your Home!
- Sukanya Samriddhi Yojana
- ELSS - Equity Linked Saving Schemes
- Bank Fixed Deposit - Interest Rates On Bank FD Accounts
- RBI Tax Savings Bonds - How to Invest in 7.75% Savings Bonds?
- Post Office Fixed Deposit: Interest Rates & Benefits
- NSC - National Savings Certificate - Interest & Benefits
- Post Office Tax Saving Investment Schemes - Plans & Benefits
- Post Office Savings Account - Process & Tax Benefits
- Senior Citizen Saving Scheme
- NPS - National Pension Scheme - Login & Benefits
- Universal Account Number (UAN): Activation & Login
- How to add I-SIP URN number in ICICI Netbanking?