Can Single Mandate ID be used in 2 Different Mutual Fund SIPs

Mutual Funds
1

Hi Upstox Team,

Can Single Mandate ID be used in 2 Different Mutual Fund SIPs.

I started my SIP on 15th April 2024, and I completed one of the MF Auto SIP process, and it was showing as under processing, in the meanwhile I started the Auto SIP process for some another MF SIP, and now both of the SIPs are showing the same mandate ID in them.

Is this normal? or do I need to do anything from my side now?

Thanks
Ajinkya

2

Yes, @CE5464. It’s normal for both SIPs to show the same mandate ID if they’re under the same single mandate. You don’t need to take any action.

The maximum amount you can invest in a day is Rs.1,00,000 by default, allowing multiple SIPs with different fund houses as long as the total invested amount for the month doesn’t exceed Rs.1,00,000.

1 Like
3

@vishalchawda
ok thanks