iSIP - The easiest way to invest in Mutual Funds

systematic investment plan, iSIP

We receive many queries from people who would want to invest into mutual funds, but find the process of investing really tough. Once you have read the post, i'm sure you will think differently!!

What is iSIP?

iSIP or an internet based SIP is a completely paperless way to invest in mutual funds. All that you have to do is to setup the SIP details with the Asset Management Company (AMC) & then add it as a biller to your internet banking. Here what you need to keep in mind while registering for iSIP.

KYC - Investors need to be KYC compliant before investing into mutual funds. You can get it done physically through submitting documents to KYC agency or get an e-KYC done which allows an investor to invest upto 50000 per fund per year.

i-SIP Form - Investors need to visit the asset management company website & register by entering details such as PAN, Mutual Fund Scheme, SIP Amount, Frequency etc.

URN - After filling up all information, a unique registration number is assigned to the application. All you need to do is login to your internet banking, register the Asset management company as a Biller to your account. In most cases, the registration should be completed within 10 days of the URN generation. The investor can select the option for auto debit, which enables the payment to be made automatically on the SIP due date.

Modification - Some of the mutual funds offer flexibility for modification of iSIP - where you can change the investment amount, investment date. If the modification is not allowed, you can register a new i-SIP & add the new URN as a biller. In case you wish to discontinue the existing i-SIP you can remove the existing URN from the biller list on your internet banking account.

Here is an example of how to add mutual fund biller to ICICI netbanking -

1.Login to your ICICI Netbanking account.

2. Navigate to Bill Payments menu.

iSIP Biller Registration ICICI

3. Select Register option.

iSIP Biller Registration ICICI

 4. Select Mutual Funds Option.

iSIP Biller Registration ICICI

5. Select the option for fund house which you would like to add.

iSIP Biller Registration ICICI

6. Fill the following fields 

  • Add a NickName to identify the SIP Biller. You could have multiple SIP's for the same fund house for different mutual funds. This field will allow you to identify the exact fund. E.g. AXIS_SMALLCAP
  • Select Auto Pay as Yes, if you would want the bill to be auto debited on the SIP date. Else you would have to manually approve the transactions.
  • Select Auto Pay Mode as Full Amount
  • Select the account number in case you have multiple accounts with ICICI
  • Enter Unique Registration Number which got generated from the mutual fund website when you registered for the SIP.
  • Select Next
iSIP Biller Registration ICICI

7. Verify all the details & select submit.

iSIP Biller Registration ICICI

8. You will receive an OTP on your registered mobile number with the bank. Enter the OTP & confirm.

iSIP Biller Registration ICICI

9. Confirmation screen will display the biller & you will start receiving SIP Bills for the SIP date selected on the fund website.

iSIP Biller Registration ICICI

Looking to start fresh SIP Investments? Best Mutual Funds to invest in 2018

Mutual funds as an investment instrument has been gaining popularity over the years, thanks to the wide range of options available and the ease of KYC process. To know more about them, check out The Mutual Funds Sahi Hai campaign, launched by The Association of Mutual Funds in India (AMFI) at

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