How to Add Mutual Fund as a Biller for SIP through Internet Banking?

How to Add Mutual Fund as a Biller for SIP through Internet Banking?

Through SIP (Systematic Investment Plan), you invest a pre-determined amount of money at regular intervals over a period of time in mutual funds. The frequency of investment in a mutual fund via SIP is usually weekly, monthly or quarterly. 

When you opt for Internet banking as a mode of payment then you need to add Mutual Fund Company as a biller in your internet banking so that the money gets deducted from your bank account on SIP date and gets invested into mutual fund. 

In this post, let us take a look at how to add Mutual Fund as a Biller for SIP through Internet Banking.

Add Mutual Fund as a Biller for SIP with your Bank

Adding mutual fund as a biller for SIP in your internet banking is an easy and simple process. To add mutual fund as a biller for SIP, you need to login to your internet banking. 

Generally, you will find biller option under “Payments” option. Here you need to add your URN (Unique Registration Number) that you receive from your mutual fund company after registering for SIP. 

The procedure of adding mutual fund as a biller for SIP is slightly different for each bank. Here I will use IndusInd Bank screenshots to show how to add mutual fund as a biller for SIP with the bank.

Also read: All about ELSS | Equity Linked Saving Scheme | Tax Saving Mutual Funds 

URN (Unique Registration Number)

When you register for a SIP in a mutual fund, a URN (unique registration number) is generated. Generated URN is displayed on your screen and also sent as an SMS to your registered mobile number and in your email.


You need to add this URN in the biller option of your bank to add mutual fund as a biller for SIP with your bank. 

How to Add Mutual Fund as a Biller for SIP through Internet Banking?

The step by step process of adding Mutual Fund as a Biller with your bank for SIP through Internet Banking is as given below.

1. Go to the Internet Banking website of your bank.

2. Log in using your customer Id and password into your account.

3. Click on “Bill Payments” option on the main menu.

4. Click “Add Billers” under “Manage Billers” option in the left menu bar.

5. Select “Mutual Fund” as type of payment.

6. Select mutual fund company that you want to add from the drop-down menu list and click on “Go”.

7. Add Biller Short Name and URN (Unique Registration Number) and click on “Register” option.

8. Next click “Confirm” to complete your biller registration for SIP.

9. It will show a message on the screen as “We have received your request for addition of the biller”.

10. Now proceed to add ‘AutoPay” option.

11. Click “Edit Payments” under “Scheduled Payments” option in the left menu bar.

12. Click on “Set” to add AutoPay.

13. Next screen, select “Yes” to pay entire bill amount option.

14. Select “Net Banking” as payment mode and choose your bank account and click on “Go”.

15. Next click “Confirm” if your AutoPay details are correct.

16. It will show a message on the screen as “We have received your request for AutoPay for this biller”.

I hope now you will be able to add mutual fund as a biller for SIP through Internet Banking with your bank.

You may also like to read: How to invest in mutual funds online?

You may also like to read: Benefits of SIP | Advantages of SIP

You may also like to read: What should be the duration of the SIP?

You may also like to read: Direct mutual funds platform in India to invest online

How to Add Mutual Fund as a Biller for SIP through Internet Banking?