Adding SIP URN Number in Other Banks' Net-banking

What is the SIP URN Number?

A SIP URN number, also known as a Unique Registration Number, is an identifier assigned to a Systematic Investment Plan (SIP) you set up with a market-linked investment fund company. It acts like an account number specific to that particular SIP investment.

Importance of SIP URN Number:

• Activate Your SIP Through Net-Banking: Many banks allow you to set up automatic SIP payments through net-banking. While doing this, you will need to enter the URN number to link your SIP investment with your bank account for automatic debits.

• Manage Your SIP: Some fund platforms allow you to manage your SIP investments (pause, modify SIP amount) using the URN number.

SIP Calculator

I know my investment amount I know my goal amount

Monthly SIP Yearly SIP Lumpsum

I want to invest Pro Tip

Financial experts suggest that a person should invest 10-15% of their monthly income for long-term financial growth

/Month

I want to invest for Pro Tip

Financial experts suggest that individuals should ideally invest for a period of 5 to 10 years, or even longer, to maximize the benefits of compounding and navigate market fluctuations effectively

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Expected return Pro Tip

Top 25% of investors consistently generate more than 12% return

% Annually

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Total Wealth ₹22.4 L

View Plans

I want to save

I want to invest for Pro Tip

Financial experts suggest that individuals should ideally invest for a period of 5 to 10 years, or even longer, to maximize the benefits of compounding and navigate market fluctuations effectively

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Expected return Pro Tip

Top 25% of investors consistently generate more than 12% return

% Annually

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Monthly Investment ₹22.4 L

View Plans

Top Funds with High Returns (Past 7 Years)

16.4%

High Growth Fund

16.77%

Top 200 Fund

13.2%

Accelerator Mid-Cap Fund II

13.33%

Opportunities Fund

8.64%

Equity II Fund

11.62%

Accelerator Fund

12.67%

Grow Money Plus Fund

14.04%

Multiplier

10.82%

Equity Top 250 Fund

11.19%

Future Apex Fund

10.97%

Opportunities Fund

12.76%

Frontline Equity Fund

14.2%

Virtue II

9.39%

Pension Dynamic Equity Fund

10.45%

Equity Fund

9.07%

Blue-Chip Equity Fund

Steps to Add SIP URN Number in Other Banks' Net-banking

Adding a SIP URN number in other banks' net-banking generally involves a similar process. Follow the steps mentioned below:

Step 1- Login to your Net-banking: Access your bank's Net-banking portal and log in using your credentials.

Step 2- Locate Bill Payments: Look for the section related to bill payments or biller registration. This might be under 'Payments & Transfer' or 'Manage Bills'.

Step 3- Add Biller: Select the option to add a new biller. You might find an option specifically for 'Market Linked Funds' or 'Add Biller Category'.

Step 4- Select Biller Details: Choose 'Market Linked Fund' (if applicable) as the biller category. Then, select the specific fund company (e.g., Axis Mutual Fund) from the provided list.

Step 5- Enter URN Details: Here, you will enter the SIP's Unique Registration Number (URN) provided by your fund. You can also assign a nickname for easy identification (e.g., 'Monthly SIP').

Step 6- Set Up Auto Pay: Activate the 'Auto Pay' option to ensure automatic deductions for your SIP instalments.

Step 7- Account Selection: Choose the bank account from which the SIP amount will be deducted.

Step 8- Confirm and Submit: Review the entered details thoroughly. Once confirmed, submit the request.

Step 9- Verification (OTP): You might receive a one-time password (OTP) on your registered mobile number for verification. Enter the OTP to complete the SIP registration.

Benefits of Adding SIP URN Number in Other Banks' Net-banking

Adding a SIP URN to another bank's net-banking offers several benefits for managing your investments in best SIP plans:

1. Convenience and Automation:

   • Simplify your investment process by adding a SIP URN to another bank's net-banking.

   • Automate your chosen SIP instalments, ensuring timely investments without manual effort.

   • Amounts are deducted automatically at predetermined intervals (monthly, quarterly, etc.).

2. Reduced Risk of Missed Payments:

   • Eliminate the risk of forgetting payments by automating contributions to the best SIP Plans.

   • Consistent investing is crucial for rupee-cost averaging and compounding benefits.

3. Paperless Transactions:

   • Make your investment process eco-friendly by going paperless.

   • No need for cheques or physical forms; everything is handled electronically.

4. Security:

   • Utilize the existing security measures of net-banking for SIP transactions.

   • Peace of mind knowing funds are transferred securely.

5. Overall Simplification:

   • Streamline your SIP management for a disciplined investment approach.

   • Enjoy the benefits of automation and convenience in managing your investments.

Overall, adding a SIP URN to another bank's net-banking simplifies and streamlines your SIP management, promoting a disciplined and automated investment approach.

In Conclusion

Integrating SIP URN numbers into other bank net-banking systems streamlines investment processes, enhances user experience, and fosters financial inclusivity. This move not only simplifies transactions but also promotes wider access to investment opportunities, ultimately benefiting both investors and financial institutions alike. It must be noted that, you can estimate the returns of your SIP investment using a SIP calculator.