What is an AutoPay?
AutoPay is a one-time registration process of setting a payment instruction with your verified bank account, where you authorize Paytm Money to automate your payments/investments.
Can I start investing without setting up an AutoPay?
You can make lumpsum investments without setting up the AutoPay.
However for SIP investments, we highly recommend setting up AutoPay. It allows seamless and effortless investments by automating debit of your investment amount as per the frequency set by you.
For which bank account can I set up AutoPay?
You can set up an AutoPay for any verified bank account on Paytm Money.
I have set up AutoPay, when will SIPs start?
Your AutoPay needs to be verified and registered with your bank. For mandates submitted via digital signature, it takes 3 to 7 days for registration, whereas for physically signed mandates it can take upto 15 to 45 days subject to your bank's approval.
Your SIPs will be automated post approval.