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Please choose Insurance company to register mandate with
Mandate is a standing instruction to a bank to debit client’s account on a periodic basis for a periodic transactions just like Systematic Investment Plans (SIPs).
There are 2 different ways with which one can set up a mandate:
- Offline Mandate - In this case, a physical mandate request form needs to be submitted. This process usually takes around 21 days (including the transit time).
- E-mandate (Online Mandate) – In this case, the entire mandate registration process happens digitally with customer’s net-banking authentication and so it is completely paperless.
For convenient premium payments in future, set up Online Mandate on your policy.