Adding SIP URN Number in Other Banks' Net-banking

The addition of SIP URN (Unique Registration Number) in Other Banks' Net-banking simplifies the process of managing Systematic Investment Plans (SIPs) across multiple banking platforms. This article will help you to streamline your financial transactions and manage your investments effortlessly.

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SIP Benefits
Start SIP with as low as ₹1000
Start SIP with as low as ₹1000
No hidden charges
No hidden charges
Save upto ₹46,800 in Tax
Save upto ₹46,800 in Taxunder section 80 C
Zero LTCG Tax
Zero LTCG Tax^ (Unlike 10% in Mutual Funds)
Disciplined & worry-free investing
Disciplined & worry-free investing

  • Insurance Companies
  • Mutual Funds
Returns
Fund Name 3 Years 5 Years 10 Years
Top 200 Fund Tata AIA 26.56% 26.54%
20.86%
View Plan
Virtue II PNB Metlife 24.33% 22.69%
18.63%
View Plan
Pure Equity Birla Sun Life 22.64% 18.83%
17.7%
View Plan
Growth Opportunities Plus Fund Bharti AXA 19.93% 18.63%
17.36%
View Plan
Pure Stock Fund Bajaj Allianz 19.11% 17.33%
17.09%
View Plan
Blue Chip Fund HDFC Standard 15.73% 14.59%
14.41%
View Plan
Growth Super Fund Max Life 16.34% 15.13%
14.21%
View Plan
Multi Cap Growth Fund ICICI Prudential 17.16% 13.44%
13.72%
View Plan
Equity Fund SBI 16.39% 14.54%
13.61%
View Plan
Equity II Fund Canara HSBC Oriental Bank 15.5% 12.24%
11.85%
View Plan

Updated as on February 2024

Compare more funds

  Returns
Fund Name 5 Years 10 Years RSI
Active Fund QUANT 27.80% 23.96%
21.08%
Large and Mid Cap Fund QUANT 23.27% 22.69%
19.64%
Flexi Cap Fund PARAG PARIKH 23.90% 20.22%
20.15%
Large and Mid Cap Fund EDELWEISS 20.32% 18.01%
16.76%
Equity Opportunities Fund KOTAK 20.22% 18.98%
17.44%
Large and Midcap Fund MIRAE ASSET 21.11% 24.56%
23.01%
Flexi Cap Fund PGIM INDIA 21.48% -
15.13%
Flexi Cap Fund DSP 19.48% 17.73%
15.82%
Emerging Equities Fund CANARA ROBECO 18.91% 22.92%
20.84%
Focused fund SUNDARAM 18.22% 16.55%
15.16%

Updated as on March 2024

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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.

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.

FAQ's

  • How can I add my urn number to HDFC Net-banking?

    To add your URN number (Unique Registration Number) for SIP in HDFC Net-banking, follow these steps:
    • Login to HDFC Net-banking.

    • Go to Bill Pay & Recharge.

    • Click on "Add Biller" and then "Continue".

    • Select the appropriate biller based on your SIP type (e.g Market Linked Funds or BSE Limited for i-SIP).

    • Enter your URN number and a nickname for the SIP (optional).

    • Set up Standing Instructions and payment options as needed (usually pay the entire bill amount and bank account).

    • Click Continue to save.

  • How can I add a SIP biller in SBI net-banking?

    Unfortunately, SBI net-banking doesn't directly support adding SIP billers yet. However, you can still invest in SIPs through SBI net-banking by navigating to the fund house's website and initiating the SIP investment directly.
  • Can I invest in SIP through net-banking?

    Yes, you can invest in SIP (Systematic Investment Plan) through net-banking of most major banks in India, including HDFC Bank. The process typically involves adding the fund house or a platform like BSE Limited (for i-SIP) as a biller and setting up a standing instruction for your SIP amount.
  • How can I add a mutual fund URN to PNB net-banking?

    Similar to SBI, PNB net-banking currently does not offer direct SIP biller registration. But you can invest in SIPs by visiting the mutual fund house's website and initiating the SIP investment through their platform using your PNB net-banking credentials.

+For Mutual Fund midcap category Returns https://www.morningstar.in/tools/mutual-fund-category-performance.aspx & for Insurance midcap fund category Returns- https://www.morningstar.in/tools/insurance-fund-category-performance.aspx
*Past 10 Year annualised returns as on 01-12-2023
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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