Is it possible to setup SIP for a day more than the Mandate Amount?

No, you cannot set up SIP for a day more than the Mandate amount you have authorised to your bank. We have validations in place to alert you while setting up more than the Mandate amount on a particular day.

Example: If you have created a mandate of 1 Lakh and you have already set up SIP for Rs. .90,000 on the 1st day of every month. Then you can set up to Rs. 10,000 against the mandate.

What can you do next?

1. You can choose another day for SIP investment as the Mandate amount is for a particular day.

As per the previous example, you can choose the 2nd day of every month, so you can set up to Rs. 1,00,000 for the day.

2. You can create a New Mandate and set up a new SIP  against the new Mandate.