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

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 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 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 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.

Happy Investing!

Disclaimer: The views expressed in this post are that of the author and not those of Groww

 

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