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What Is E-NACH, And How To Register For It?

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Aadav Kanwar
What Is E-NACH, And How To Register For It?

Investment is a crucial part of our life, and it helps us sustain and make our future more secure when we choose to retire, or an emergency arises. The mutual fund investment process is one of the most common examples.

 

There could be instances in your active, busy life that you either forget to invest in it or push it aside for later. A new feature added to the mutual fund investment process known as the e-NACH Mandate can sort out these problems of yours.

 

If you don't have an idea of what is this unique feature, then let us first understand what it is:

 

What Is The E-NACH Mandate?

 

It stands for National Automated Clearing House, making the investment process seamless, paperless, and digitally enhanced. In this process, the investor provides a one-time mandate to the mutual fund by authorizing a nominal payment from the bank account by the net banking portal available.

 

After knowing what it is, let us see the benefits enjoyed through this new feature started by the e-NACH services company are:

 

  • Paperless mode of transaction through SMS, call centers, and any mobile application anytime and anywhere.
  • Investors can carry out multiple transactions like purchasing SIPs by a single mandate.
  • Registering in various SIP schemes at a single time.
  • Removing the struggle of issuing a cheque every time during purchases.
  • NACH platform provides a hassle-free and faster debt mechanism.

 

Now, if you want to enjoy the benefits mentioned above and want to register for it, then let us go through the procedure of the e-NACH services company:

 

Logging Into Your Investor Account 

The first step would be logging into your respective investor account through your chosen mutual fund investment website and selecting the OTM option.

 

  • Portfolio Selection

 

The investor must register the OTM for their chosen portfolio. Additionally, there is no limit on the number of portfolios chosen for OTM registration.

 

  • Preferred Bank Accounts Selection

 

NACH platform offers the chance to register up to 5 bank accounts for your portfolio, eliminating the possibility of adding just one account for your folio.

 

The only step they need to follow is that the selected bank account added by the investor must register the OTM within them. After choosing the bank account, the investor gets redirected through the portal to the net banking login page.

 

The investor must also consider the e-NACH mandate charges while proceeding forward.

 

  • Authorizing The OTM Through The Net Banking Portal

 

After logging into your net banking account and authorizing a nominal payment of one rupee from the preferred bank account, providing the necessary OTP completes the final step of the registration process.

 

Conclusion 

 

Our investment process through mutual funds has been made paperless and seamless through the e-NACH feature provided by the e-NACH services company by charging a nominal e- NACH mandate charge to us after understanding the above article.


Read More: Everything You Need To Know About Enach And E-Mandate


 


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Aadav Kanwar
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