Glide Invest FAQ: What is a bank mandate? Why is it needed?

What is a bank mandate? Why is it needed?

A bank mandate is an authorised document submitted by you, the account holder, to your bank to authorise Glide Invest to transfer money from your bank account to the bank account of the Mutual Funds based on the orders placed by you. This transfer is accomplished following due procedures and within the limits imposed by the mandate.

The amount mentioned in the bank mandate is the maximum amount you can invest in a single mutual fund scheme on a single day. You may setup your bank bank electronically, referred to as emandate, or through the regular process of paper mandate.  As a default and in order to avoid multiple mandates in case of multiple SIPs, we take a broad mandate of Rs. 1 Lakh for emandates, and Rs. 2 Lakhs for paper mandates. See What is the difference between eMandate and paper-based Mandate?

Having a bank mandate does not mean we shall be deducting the full amount from your bank account every time you make a transaction. It is just the limit of our deduction to allow us to transfer money from your bank account to the bank account of the mutual fund.  Your money never touches our bank accounts.

For example, if you want to invest in three different funds via SIP in varying amounts whose sum falls below Rs. 2 Lac, instead of submitting three different mandates to three different AMCs for three different amounts, you can submit only one default mandate to Glide Invest and we shall transfer the SIP amounts to all three funds using one single mandate.



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      Currently, we do not support modification of your bank mandate through the app.  Please contact customer support to modify your bank mandate.
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    • Are there any charges for a bank mandate?

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