When you initiate a payment even though the money is deducted from your account immediately, the time taken for the money to be settled by the payment gateway differs based on the mode of payment and also the bank involved.
With the new NAV cut-off regulation, orders can only be placed once the payment is received by BSE. This leads to different cut-off times depending on the payment method and type of fund.
Payment Mode: Net Banking (on select banks)
Investment Date: T day, 12:01 AM - 2:00 PM
Fund Realization Day: T day
Payment Mode: Net Banking (on all other banks)
Investment Date: T day, 12:01 AM - 2:00 PM
Fund Realization Day: T+1 day
Payment Mode: UPI & Bank Transfer
Investment Date: T day, 12:01 AM - 2:00 PM
Fund Realization Day: T day
List of select banks: Axis Bank, ICICI Bank, HDFC Bank, Yes Bank and SBI Bank