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How to Add I-SIP URN Number In ICICI Net Banking?
Investments in mutual funds have been increasing as they offer high returns on investments, and investing in them has been simplified to a great extent. Experts manage their investments in mutual funds, and SIP takes care of mutual fund installments.A systematic Investment Plan or SIP is a tool used to pay mutual funds amount regularly. SIP as a tool gained momentum post-demonetization when mutual funds became a popular consumer investment option. SIP is an effective tool as it pays your mutual fund’s installment regularly and is also responsible for bringing discipline into the investor's lives.
Now you can enroll for systematic investment plans (SIPs) online using the i-SIP facility. i-SIP stands for internet-based Systematic Investment Plan. It is paperless since the process is done via Internet banking and thus is completely environment-friendly.
To use the i-SIP facility, you need to have a Netbanking-enabled account that is KYC-compliant. Additionally, the bank where you hold your savings account needs to be approved to offer the i-SIP facility.
Enable i-SIP for ICICI Bank:
This section will provide a step-by-step guide on activating your i-SIP for ICICI Bank. You will also find a list of conditions you must 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 a net banking facility
- Bank housing your account should be authorized to extend the i-SIP facility
Steps to activate i-SIP via the ICICI bank
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’, available under the ‘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 must click ‘Telecom, Insurance, and other utilities’.
- You will see the ‘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: your nickname must be descriptive in nature. It should be easy to remember and can be used to identify the biller in the future.
- Put in the Registration date
- Under the ‘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 regularly.
- 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 click ‘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 the ‘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 the ‘Confirm Registration section. Select your biller from under the ‘Pending Registrations’ list.
- After selecting the biller, fill in the OTP against the ‘Unique Reference Number’ box. Click on ‘confirm’ after filing the OTP.
- You will see a success message confirming your registration on the next screen. Take a printout 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 ICICI Bank’s SIP and others. SIP operates in the same way for all banks. ICICI mutual fund SIP fixes an amount that is regularly debited from the investor’s account.
Q- What is the holding period of SIP investments?
3 years is the holding period of SIP investments. But financial advisors suggest investing 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 must fulfill the KYC requirement. You can fulfill these requirements via e-KYC. The 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?
URN number is generally needed to add/confirm a payee/beneficiary to make an online transfer of funds from an ICICI bank account. In the case of residential customers, you can obtain URN by sending URN
Q- How do I link my SIP to my bank account?
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 an urn to Icici mutual fund?
You can add URN to 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?
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?
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?
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>
Q- How can I activate I safe in Icici Bank?
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?
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?
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.