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

Axis paperless SIP

Step 2: Click Add New Biller

axis-paperless-sip-02

Step 3: Select Mutual Fund and BSE Limited

axis-paperless-sip-03

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

axis-paperless-sip-04

How to Add Biller in HDFC Bank

Step 1: Click BillPay & Recharge

HDFC Paperless SIP

Step 2: Click Register New Biller

hdfc-paperless-sip-04

Step 3 Select Mutual Funds and BSE Limited

hdfc-paperless-sip-02

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

HDFC paperless SIP

How to Add Biller in ICICI Bank

Step 1: Click PAYMENT & TRANSFER and select BILL PAYMENTS

ICICI Paperless SIP

Step 2: Click REGISTER under Pay New Bills section

ICICI Paperless SIP

Step 3: Select Mutual Funds

ICICI Paperless SIP

Step 4: Select BSE ISIP# and Click REGISTER

ICICI Paperless SIP

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

ICICI Paperless SIP

How to Add Biller to SBI

Step 1: Click Bill Payments

sbi paperless sip

Step 2: Click Manage Biller

sbi paperless sip

Step 3: Click Add

sbi paperless sip

Step 4: Select Biller as BSE Limited

sbi paperless sip

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

sbi paperless sip

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