Glide Invest FAQ: What is the difference between eMandate and paper-based Mandate?

What is the difference between eMandate and paper-based Mandate?

There are 2 methods of getting your mandate approved through our application:
  1. eMandate (or electronic Mandate): this mandate is setup using your Netbanking or Debit Card through your bank's website. It takes about 5-7 working days for your bank to approve this. However, your investments are limited to Rs. 1 Lakh / trade with this method. Note that eMandate applications need to be authenticated by you within 5 working days, else a new eMandate needs to be submitted. 
  2. paper-based Mandate: this mandate is setup using a physical form that needs to be downloaded, printed, signed and uploaded. It takes about 4-6 weeks for your bank to approve this. However, your investment limit will be Rs. 2 Lakhs / trade with this method.
NRI/NRE customers cannot register for eMandate.  Additionally, eMandate is only allowed for Savings Accounts for Individuals with Single Account Holder in the account. 

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