How to Add Biller for starting SIP Online

Adding the Biller for starting SIP in Mutual Funds

Adding a biller is a compulsory step to successfully starting SIP online on Groww.

Once you’ve made the initial payment, your first SIP installment has been paid successfully. To ensure that the next SIPs get auto-debited every month, you will need to set up a biller.

Setting up a biller is a one time process. You don’t need to add it again when you start another SIP.

Also, if the biller is not set up, the next SIP installment will fail and the SIP amount won’t get deducted.  

Here are the steps to add biller in your bank.

1. Copy the 15 digit Unique Registration Number (starting with BSE…) that you got after making the first transaction. You can find this number here –
   1. In MY SIPS section on your Groww account. Click here to go to ‘MY SIPS”.
   2. In your registered email account. You would also have received SIP confirmation email. You can search ‘SIP started successfully’ in your mailbox. In the email, you will be able to see your URN number starting with ‘BSE…”. Copy it.
2. Log-in to your bank’s internet banking and follow the following steps –
   1. Click Bill Payments
   2. Click Register/Add New Biller
   3. Select Biller – mutual funds
   4. Select Company – BSE ISIP or BSE Ltd
   5. Add the “Unique Registration Number”
   6. Select “Auto Pay” and “Pay Entire Bill Amount”
   7. Confirm to submit the request

Within 3 working days, you will get SMS from your bank approving the new biller. Once the biller is approved, your monthly investments (SIP) is set. You can manage and track the investments on Groww dashboard.

Here is a set of screenshots of the procedure to set up biller in a few popular banks.

How to Add Biller on Axis Bank

Step 1: Go to Pay Bills

Step 2: Click Add New Biller

Step 3: Select Mutual Fund and BSE Limited

Step 4: Add the URN and select the options as shown below

How to Add Biller in HDFC Bank

Step 1: Click BillPay & Recharge

Step 2: Click Register New Biller

Step 3 Select Mutual Funds and BSE Limited

Step 4: Add the URN and select the options as shown below

How to Add Biller in ICICI Bank

Step 1: Click PAYMENT & TRANSFER and select BILL PAYMENTS

Step 2: Click REGISTER under Pay New Bills section

Step 3: Select Mutual Funds

Step 4: Select BSE ISIP# and Click REGISTER

Step 5: Add the URN and select the options as shown below

How to Add Biller to SBI

Step 1: Click Bill Payments

Step 2: Click Manage Biller

Step 3: Click Add

Step 4: Select Biller as BSE Limited

Step 5: Add the URN and select the options as shown below

How to Add Biller in Union Bank

Step 1: Click Bill Presentment

Step 2: Click Add Biller/Instant Pay

Step 3: Choose Mutual Fund and select BSE Limited

Step 4: Add the URN and select the options as shown below

Step 5: Click on Confirm

Step 6: Congrats you are done!

 

How to Add Biller in Yes Bank

Step 1: Click Bill Pay. Click on Add Biller

Step 2: Choose National and select BSE Limited

Step 3: Add the URN and select the options as shown below

Step 4: Click on Confirm

Step 5: Success, you are done!

Banks Supported for Paperless SIP

Here is the list of Banks that are supported for paperless SIP. If your bank is not on the below list, please contact support@groww.in or call at 91088 00604.

1. State Bank of India
2. Axis Bank
3. Bank of Maharashtra
4. Catholic Syrian Bank
5. Central Bank of India
6. City Union Bank
7. Corporation Bank
8. Cosmos Bank
9. Development Bank of Singapore
10. Federal Bank
11. FIRSTRAND BANK
12. HDFC Bank
13. ICICI Bank
14. IDBI Bank
15. Indian bank
16. INDIAN OVERSEAS BANK
17. IndusInd Bank
18. Karnataka Bank
19. Kotak Bank
20. Lakshmi Vilas Bank
21. NKGSB bank
22. Ratnakar Bank
23. Saraswat Bank
24. South Indian Bank
25. The Dhanalakshmi Bank
26. UCO Bank
27. Union Bank of India
28. United Bank of India
29. Yes Bank

AMC supported for paperless SIP

Here is the list of Mutual Funds (AMC) that support automated SIP. If the Mutual Fund you want to invest in is not on the list, please contact support@groww.in or call at 91088 00604.

1. AXIS MUTUAL FUNDS
2. BIRLA SUN LIFE MUTUAL FUND
3. BNP PARIBAS MUTUAL FUND
4. BOI AXA MUTUAL FUND
5. DHFL PRAMERICA MUTUAL FUND
6. DSP BLACKROCK MUTUAL FUND
7. FRANKLIN TEMPLETON MUTUAL FUND
8. HDFC MUTUAL FUND
9. HSBC MUTUAL FUND
10. ICICI PRUDENTIAL MUTUAL FUND
11. IDBI MUTUAL FUND
12. IDFC MUTUAL FUND
13. INVESCO MUTUAL FUND
14. KOTAK MAHINDRA MUTUAL FUND
15. L&T MUTUAL FUND
16. LIC MUTUAL FUND
17. MIRAE ASSET MANAGEMENT
18. MOTILAL OSWAL MUTUAL FUND
19. PEERLESS MUTUAL FUND
20. PPFAS MUTUAL FUND
21. PRINCIPAL MUTUAL FUND
22. QUANTUM MUTUAL FUND
23. RELIANCE MUTUAL FUND
24. SBI MUTUAL FUND
25. TATA MUTUAL FUND
26. TAURUS MUTUAL FUND
27. UTI MUTUAL FUND