How to Do Paperless SIP on Groww

Systematic Investment Plans (SIP) is the best way of investing in Mutual funds. Through SIP, your investments are regular, automated and timed to earn best returns. Here is how you can start paperless SIP on Groww within a few minutes.

  • Select the Portfolio or Mutual Fund for investment
  • Chose the “start SIP” option while investing
  • Select the day of the month for the automated SIP investments
  • Complete the first installment of the investment through net-banking
  • Add BILLER in your bank for automating monthly investments.

Adding the Biller for SIP

  1. Copy the 15 digit Unique Registration Number (starting with BSE…) that you got after making the first transaction. You can also find it here.
  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.

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

HDFC Bank

Step 1: Click BillPay & Recharge

HDFC Paperless SIP

Step 2: Click Register New Biller

hdfc-paperless-sip-04Step 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

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

SBI

Step 1: Click Bill Payments

sbi paperless sip

Step 2: Click Manage Biller

sbi paperless sipStep 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

Banks supported for paperless SIP

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

  • State Bank of India
  • Axis Bank
  • Bank of Baroda
  • Bank of Maharashtra
  • Canara Bank
  • 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
  • IDFC Bank
  • Indian bank
  • INDIAN OVERSEAS BANK
  • IndusInd Bank
  • Karnataka Bank
  • Lakshmi Vilas Bank
  • NKGSB bank
  • Punjab National Bank
  • Ratnakar Bank
  • Saraswat Bank
  • South Indian Bank
  • The Dhanalakshmi Bank
  • UCO Bank
  • Union Bank of India
  • 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 in the list, please contact support@groww.in or call at 91088 00604.

  • AXIS MUTUAL FUNDS
  • BIRLA SUN LIFE MUTUAL FUND
  • BNP PARIBAS MUTUAL FUND
  • BOI AXA MUTUAL FUND
  • DHFL PRAMERICA MUTUAL FUND
  • DSP BLACKROCK 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
  • KOTAK MAHINDRA MUTUAL FUND
  • L&T MUTUAL FUND
  • LIC MUTUAL FUND
  • MIRAE ASSET MANAGEMENT
  • MOTILAL OSWAL MUTUAL FUND
  • PEERLESS MUTUAL FUND
  • PPFAS MUTUAL FUND
  • PRINCIPAL MUTUAL FUND
  • QUANTUM MUTUAL FUND
  • RELIANCE MUTUAL FUND
  • TATA MUTUAL FUND
  • TAURUS MUTUAL FUND
  • UTI MUTUAL FUND