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Steps To Add I-SIP URN Number In ICICI Net Banking

Updated on: 22 Apr, 2022 05:47 PM

i-SIP is an online facility launched recently to ease the setting up of SIP. i-SIP stands for internet-based Systematic Investment Plan which helps in setting up SIP through online means. It is a paperless method since the process is done via internet banking and thus is completely environment-friendly. i-SIP is used to set up SIP but what is SIP?
Systematic Investment Plan or SIP is a tool which is used to pay mutual funds amount on a regular basis. SIP as a tool gained momentum post demonetization when mutual funds became a popular investment option for consumers. SIP is an effective tool as it pays your mutual fund’s installment regularly and is also responsible for bringing discipline in the lives of the investor. 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. Your investments in mutual funds are managed by the experts and SIP takes care of mutual fund installments.
Looking at the above scenario, you really don’t have to do much if you decide to invest in mutual fund. To make the process easier, let’s see how you can set up SIP via internet banking.

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. icici bank
  • 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. payments and transfers
  • 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’. telecom
  • 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. Search biller
  • 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:
    1. 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.
    2. Put in Registration date
    3. 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.
    4. For ‘Auto Pay mode’, select ‘full amount’.
    5. After this, you need to select ‘Bank account’ which needs to be used to pay for the funds.
    6. After the bank account, fill in your ‘Unique Registration Number’ (URN). You must check your mobile/email address for URN.
    7. In the last, you need to agree to ‘terms and conditions’ before you can proceed further.
    register biller
  • Once you have clicked on ‘Next’, you will be taken to a ‘Confirmation’ screen. Verify the details mentioned and click on ‘Submit’. confirmation
  • 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’. manage biller
  • 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.confirm registration
  • 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.confirming

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?

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?

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?

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?

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> <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?

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.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.



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