nBank may offer scheduled payments for eligible Nabil Investment Banking SIPs. This guide shows the app workflow, but menu labels and eligibility can change. Before enabling a schedule, confirm the scheme, debit amount, payment date and mandate status in the official app. Check that each debit is credited to your SIP.
What is SIP Payment Automation?
SIP Payment automation is the systematic process of making payments of your SIP Payment at the preset frequency of your SIP Plan. It’s an advanced e-mandate feature of SIP used to automatically pay the SIP Installment amount from your nBank (Nabil Bank Mobile Banking App).
nBank SIP Automation vs E-Mandate (NCHL IPS)
Some fund-manager portals offer an e-mandate through ConnectIPS or a supported bank. If your scheme offers it, review the authorised bank account, amount, frequency, expiry date and cancellation process before confirming. An active mandate does not guarantee a successful debit or unit allotment.
To enable automatic payments, select the Schedule Payment option in nBank’s Investment menu, streamlining your SIP management.
Also, you can easily manage and set this process in your nBank without visiting your Issue Manager SIP Login page.
Requirements for SIP Payment Automation for Nabil SIP
As I said earlier, this SIP Payment automation needs certain steps. Here are the few requirements that you must have before proceeding with the SIP Schedule payment in nBank by Nabil Bank.
- 16 Digit BOID, your DEMAT Account Number
- nBank Mobile Banking App by Nabil Bank
- Subscription of Nabil SIP (NI 31, Nabil Flexi Cap Fund)
Process for nBank SIP Payment Automation
- Get logged into your nBank Mobile Banking App,
- Scroll down to the Marketplace area, and choose Investment (SIP, TMS),
- Select SIP Payment (Nabil Investment),
- Now tap on Add DEMAT,
- Under Add Demat Account, enter your Full Name, choose Depository Participant, and enter the Client ID, and then Submit,
- Full Name: Your Full Name as per DEMAT (or Valid ID)
- Ensure your DEMAT Account is linked correctly by choosing the DP that matches your DEMAT details, giving you confidence in the setup process. Also, you must need to have already Subscribed SIP from nabil Investment (anyone). Also, in my case i have already demat so here i am adding another DEMAT Here,
- Enter the OTP, and send it via Registered Mail. After that, it will show the DEMAT Inside Investment (SIP, TMS),
- Now select the DEMAT Account for which you want to proceed with the SIP Installment payment or want to automate the payment by scheduling it.
- Tap on View Details, here you will get all information about your Subscribed SIP Plan with current NAV, Frequency, Installment amount, Start-Next Installment-End Date,
- Tap on the Schedule Payment toggle to enable it,
- Now enter the OTP sent to your mobile number, and tap on Verify & Enable SI,
- Confirm the schedule is active in nBank. After each due date, check the bank debit and the fund manager’s payment and unit-allotment records. If a debit fails or the records differ, contact the bank or fund manager before making another payment.
Unable to Schedule: ‘The SIP has an E-Mandate enabled’
If nBank says an e-mandate is already enabled, check its status and the next instalment date in the official Nabil Investment Banking portal before making a change. Do not cancel a working mandate merely to try another payment method. If you decide to switch, confirm how the next instalment will be paid so it is not missed, and keep the cancellation confirmation. The screens below show where an existing mandate can be reviewed and cancelled.
- Visit the SIP Login Page of Nabil Investment Banking, click here,
- Tap on the E-Mandates option there, now it shows all E-Mandate Enable Schemes,
- Now tap on the Cancel button showing there,
- Under the Cancel E-Mandate pop-up, tap on Confirm,
- That’s all. E-Mandate Successfully Cancelled.
If the old mandate has been cancelled and you have a plan for the next due instalment, return to nBank to set up the new schedule. Confirm that only one active payment instruction remains. After the first scheduled debit, check both your bank transaction and the fund manager’s SIP payment record.
Unable to Link/Add DEMAT in nBank
If you have failed to link your DEMAT Account in nBank, then you must ensure that the Name Spelling is the same on all platforms, like in DEMAT, SIP, and even in your bank account.
Understanding the Depository Participant (DP)
The DP name matters when linking a DEMAT account in nBank because the selected institution must match the one associated with your BOID.
A Depository Participant (DP) is the licensed institution through which you hold your DEMAT account in CDSC’s system. Your DP may be a bank, capital company or another authorised institution. Use the name on your account documents rather than assuming the parent bank is the DP.
Select the DP shown on your own DEMAT account statement or BOID record. Do not guess from the bank branch where you opened the account: a bank and its capital company may be separate DPs, and names can change. CDSC describes the BOID as a unique 16-digit number assigned through an authorised DP. If the nBank list is unclear, ask your DP to confirm the exact registered name and ID before linking the account.
BOID: Your 16 Digit Demat Account Number, for example, 1301040005673880
DP ID: First 8 digits of your Demat Account Number, for example, 13010400
Client ID: Last 8 digits of your Demat Account Number, for example, 05673880
That’s all for the process to enable nBank SIP Payment automation. With this process, you can add your DEMAT Account and schedule for SIP Payment easily. If you have any issues related to this process, then you can comment or contact me directly from the contact us page, or also get in touch with Nabil Investment Banking.
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