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 –
- In MY SIPS section on your Groww account. Click here to go to ‘MY SIPS”.
- 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 –
- Click Bill Payments
- Click Register/Add New Biller
- Select Biller – mutual funds
- Select Company – BSE ISIP or BSE Ltd
- Add the “Unique Registration Number”
- Select “Auto Pay” and “Pay Entire Bill Amount”
- 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 on Mutual Funds
Step 3: Click on BSE Limited
Step 4: Add the URN and other essentials (Nickname can be anything of your choice)
How to Add Biller in ICICI Bank
Step 1: Click PAYMENT & TRANSFER and select PAY BILLS
Step 2: Click on More to expand it and then select Mutual Fund
Step 3: To enter biller details, type BSE ISIP#
Step 4: Enter URN, enable auto bill pay to “yes” and select “full amount” from the drop-down under Auto Pay Mode. Then click on Register.
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 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!
How to Add Biller in Kotak Bank
Step 1: Click on Payment and Transfer
Step 2: Click on Bill Pay/Recharge
Step 3: Click on ‘Click here to add a biller’
Step 4: Select Mutual Funds as the Option
Step 5: Click on ‘BSE Limited’
Step 6: Fill up the essentials and then click on ‘Add Biller’
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.
- State Bank of India
- Axis Bank
- Bank of Maharashtra
- Catholic Syrian Bank
- Central Bank of India
- City Union Bank
- Corporation Bank
- Cosmos Bank
- Development Bank of Singapore
- Federal Bank
- FIRSTRAND BANK
- HDFC Bank
- ICICI Bank
- IDBI Bank
- Indian bank
- INDIAN OVERSEAS BANK
- IndusInd Bank
- Karnataka Bank
- Kotak Bank
- Lakshmi Vilas Bank
- NKGSB bank
- Ratnakar Bank
- Saraswat Bank
- South Indian Bank
- The Dhanalakshmi Bank
- UCO Bank
- United Bank of India
- 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.
- Axis Mutual Fund
- Aditya Birla Sun Life Mutual Fund
- BNP Paribas Mutual Fund
- BOI AXA Mutual Fund
- DHFL Pramerica Mutual Fund
- DSP Mutual Fund
- Franklin Templeton Mutual Fund
- HDFC Mutual Fund
- HSBC Mutual Fund
- ICICI Prudential Mutual Fund
- IDBI Mutual Fund
- IDFC Mutual Fund
- Invesco Mutual Fund
- Mahindra Mutual Fund
- L&T Mutual Fund
- Mirae Asset Mutual Fund
- Motilal Oswal Mutual Fund
- PPFAS Mutual Fund
- Principal Mutual Fund
- Quantum Mutual Fund
- Reliance Mutual Fund
- SBI Mutual Fund
- TATA Mutual Fund
- Taurus Mutual Fund
- UTI Mutual Fund
- LIC Mutual Fund
Happy Investing!
Disclaimer: The views expressed in this post are that of the author and not those of Groww
