How to Create a Mandate in Flattrade Novo for SIP?

A mandate is required to enable the successful auto-debit of your SIP amount from your bank account.

Important: Mandates can be created only for the primary bank account registered in your DP account.

Follow the steps below to create and authorize a mandate:

1. Visit https://novo.flattrade.in/

2. Go to the Mutual Fund section.

3. Click on Mandate under the Your Plans tab.

4. Select Create New to set up a new mandate.

5. By default, the mandate amount will be set at ₹1,00,000. You can modify this amount as per your SIP plan.

   • This amount represents the maximum limit that can be debited from your bank account towards SIP on any given day.

6. The end date is set to 30 years by default. You may change the duration as per your requirement.

7. Once updated, click Proceed to submit your mandate request to BSE StarMF.

8. After successful submission, you will receive an email from BSE StarMF on your registered email ID to authorize the mandate.

9. Mandate authorization will take place on the Digio screen.

10. To initiate the process, click Send Code. You will receive a verification code on your registered email ID.

11. Choose one of the available authorization methods:

• Debit Card (highest success rate)

• Net Banking

• Aadhaar (lowest success rate as per Digio records)

12. Once successfully authorized, the mandate will be processed and sent to your bank for approval.

    • The approval timeline varies between 2–5 working days, depending on your bank.

Note:

• The pending mandate is valid only for 10 days. After that, the status changes to ‘Expired,’ and we do not allow redirection to Digio to authenticate the mandate request.

• Mandate creation charges (if any) are levied by your bank.

• Flattrade does not charge any fees for mandate creation.