Automate Your SIP Payments with UPI Autopay

byjitendra7.singhLast Updated: September 1, 2023

As a busy individual in this fast pacing digital world, you may forget to make your regular Systematic Investment Plan (SIP) payments. A delay in the payment may call for penalties and even cancellation of your instalment plan. Who would want that when their only goal is to invest and save for the future? To neglect such happenings, UPI Autopay might be of great help.

UPI Autopay is a facility introduced by the National Payments Corporation of India (NPCI) in 2020 with a view to streamline scheduled payments in a smarter way. This feature is available on all Unified Payments Interface (UPI) systems and is best used to make recurring payments like insurance premiums, mutual funds, and bills. Read further to learn how to leverage this function to make your SIP payments automatically with no hassle.

What is UPI Autopay?

UPI Autopay is a payment service launched by the NPCI in July 2022 to make seamless and effective recurring payments without any manual assistance. With the high magnitude of recurring transactions, UPI Autopay is the best way to organise payment schedules. They are widely utilised for making payments like digital subscriptions, SIPs, insurance premiums, donations, EMIs, etc.

This convenient payment solution is designed to assist individuals in automatically paying their regular bills on a set date. The service enables users to activate an electronic mandate, allowing automatic payments. Before July 2020, this feature was exclusively accessible through net banking or credit card portals, but now, every UPI application has it.

Benefits of Using UPI Autopay for SIP Payments

Making SIP payments via UPI Autopay comes with its own set of benefits. These are:

  • Secure and convenient: The e-mandate option of UPI Autopay allows for making safe and cashless SIP payments without missing deadlines or setting continuous reminders. It ensures that you make timely payments leaving no scope for penalties or fees. It also eradicates any need to submit any supporting paperwork or documentation.
  • Customised payments: Autopay by UPI allows customers to devise different plans for different payments. If you have more than one SIP instalment scheduled, you can easily customise your payment amount by changing your settings. UPI Autopay facilitates bulk payments instantly without letting you miss any payment cycle.
  • No transit: UPI Autopay eliminates the need to move from one place to another to make monthly, quarterly or yearly SIP payments. You may not have to wait in long queues to make just one payment. One can enable UPI Autopay and enjoy convenience when every payment is made automatically without you worrying about it.
  • Timely notifications: UPI Autopay timely notifies users about their incurring payments. It keeps them informed about the automatic deductions from their bank accounts. These prompt notifications allow you to keep track of your finances with complete information on automatic payments.

How to Enable UPI Autopay for SIP Payments?

If you wish to enable automatic payments for your recurring SIP payments, then you must follow the below-mentioned steps:

  • Open any UPI-enabled payment app on your smartphone.
  • Locate the option for Autopay from the bill payment section.
  • Select the option for “Mutual funds or Investments.”
  • Enter details of your investment, like amount, payment frequency, and other related details.
  • Set up the Autopay mandate following the instructions on the app.
  • Verify and confirm all your proceedings.
  • Once done, your SIP Autopay is enabled; you can always update the details from Autopay settings.

Also Read: Why Should You Invest In SIP – Know The Benefits

Conclusion: Investing anywhere would require you to make timely payments, and SIP is no exception. UPI Autopay is a convenient feature that allows you to make swift payments on time automatically via e-mandate. E-mandate in UPI Autopay makes any recurring payments on time. Seeing all the benefits of UPI Autopay for SIP payment, you can analyse for yourself that there are only benefits when you choose to pay automatically. You can refer to all the steps discussed above to activate this facility in your UPI apps and make your recurring payments without the stress of waiting for every interval.


What is UPI Autopay for SIP payments?

UPI Autopay is a feature that allows investors to automate their Systematic Investment Plan (SIP) payments. It enables hassle-free monthly deductions from the investor’s bank account to invest in mutual funds, making the investment process more convenient and disciplined.

How does UPI Autopay work for SIPs?

To set up UPI Autopay for SIPs, investors need to link their UPI ID with their mutual fund investment account. Once linked, the predetermined SIP amount will be automatically debited from the investor’s bank account on the specified SIP date every month.

Is UPI Autopay secure for SIP transactions?

Yes, UPI Autopay for SIPs is highly secure. It leverages the Unified Payments Interface (UPI) platform, which uses two-factor authentication and encrypted transactions to ensure the safety of your financial information.

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