Only one-time registration for all further SIPs under same folio
Significant reduction in SIP registration time
Provide Flexibility for subsequent investments without payment instruments (Cheques/DDs)
Cancellation of mandate is easy
On which mode OTM is available?
What is maximum allowed amount per OTM
OTM is available for what all transactions
All transactions including Lumpsum, Additional Purchase
What is the limit of SIPs in same folio under OTM
One SIP only
Name of Scheme
Mirae Asset Banking and Financial Services Fund
Mirae Asset Emerging Blue Chip Fund
Mirae Asset Focused Fund
Mirae Asset Great Consumer Fund
Mirae Asset Healthcare Fund
Mirae Asset Large Cap Fund
Mirae Asset Midcap Fund
Mirae Asset Tax Saver Fund
Mirae Asset Arbitrage Fund
Mirae Asset Equity Savings Fund
Mirae Asset Hybrid Equity Fund
Mirae Asset Banking and PSU Debt Fund
Mirae Asset Cash Management Fund
Mirae Asset Corporate Bond Fund
Mirae Asset Dynamic Bond Fund
Mirae Asset Money Market Fund
Mirae Asset Overnight Fund
Mirae Asset Savings Fund
Mirae Asset Short Term Fund
Mirae Asset Ultra Short Duration Fund
MIRAE ASSET ESG SECTOR LEADERS ETF
MIRAE ASSET HANG SENG TECH ETF
MIRAE ASSET NYSE FANG+ ETF
Mirae Asset S&P 500 TOP 50 ETF
Mirae Asset Nifty 50 ETF (MAN50ETF)
Mirae Asset Nifty Financial Services ETF
MMirae Asset Nifty India Manufacturing ETF
Mirae Asset Nifty Midcap 150 ETF
Mirae Asset Nifty Next 50 ETF (MANXT50ETF)
MIRAE ASSET HANG SENG TECH ETF FUND OF FUND
Mirae Asset NYSE FANG+ETF Fund of Fund
Mirae Asset S&P 500 TOP 50 ETF Fund of Fund
Mirae Asset ESG Sector Leaders Fund Of Fund
Mirae Asset Equity Allocator Fund of Fund
Mirae Asset Nifty India Manufacturing ETF Fund of Fund
Mirae Asset Nifty SDL Jun 2027 Index Fund
OTM stands for One Time Mandate which is one-time registration and can be used by an investor to authorizes his / her bank to debit their account with a specific amount towards investing into SIP (Systematic Investment Plan).
After registering for OTM, investor don’t have to follow the payment process every time while investing in SIP.
The debits under OTM are processed through the National Automated Clearing House (NACH) by Mirae Asset Mutual Fund (“the Fund”). Once you register for OTM, as per investor SIP cycle date debit instructions will be forwarded to bank through NACH and vice versa the Fund will receive the credit.
OTM authorizes the Fund and the bank to debit the bank account of investor for payment towards SIP instalments submitted through only physical mode.
This facility is an authorization to the bank, as indicated by the investor(s) in the OTM form, to debit their bank account up to a certain limit in a particular folio per registration per transaction, based on their instruction to the Fund, whenever they choose to invest or start an SIP.
Investor needs to fill the One-time Mandate registration form and submit the same at any of the Designated Investor Service Centre or through their financial advisor.
Existing Investors are required to write folio no and submit the properly signed OTM form. The signature must be as per the bank documents. Details, such as date, as bank account number, bank and branch name, IFSC and/or MICR code, the maximum limit of the amount, in figures and words, selecting bank account type and frequency, name and signature as per bank records, and contact details, should be filled in the form. In case any of the fields are not filled, the mandate will be rejected.
This facility is available to all categories of investors who are eligible to invest in the Fund. Mirae Asset Mutual Fund reserves the right to restrict or withdraw or discontinue the OTM facility to certain categories of investors or to any specific investor anytime at its discretion without assigning any prior reason thereof.
The mandate registration is at a Folio level but investors can register multiple SIP of different schemes. Investor will be able to register 5 separate OTMs with different banks for a single folio.
The Investor can specify this in the maximum amount field. Per transaction should be less than or equal to the amount as mentioned in OTM - NACH mandate.
Maximum amount per OTM is Rs. 1 Crore
The OTM facility is not restricted to a particular bank. As long as a bank is participating in the NACH system, investors can register OTM facility for any of the bank branches. For updated list of banks eligible for NACH Facility please refer to http://www.npci.org.in/home.aspx Product & Services Tab -> National Automated Clearing House Drop Down -> Live Bank Drop Down. The said list is subject to modifications. The investor agrees to abide by the terms and conditions of NACH Debit/ECS of Reserve Bank of India/Banks.
Please note OTM amount cannot be edited, Investor have to cancel the existing OTM and submit new mandate with specified amount.
Yes, Financial Advisors can help to set up the OTM.
Registration of One Time Mandate will take upto 25 - 30 Calendar days before the 1st installment date.
SIP will take 15 calendar days to register in the folio.
No, one can register for OTM without registering for New SIP also. Moreover, existing investors can also apply for the facility.
Yes, Investor can change the bank in OTM by filling OTM Change of Bank form which is available on our website.
Only SIPs are allowed under this facility and currently we are not providing lumpsum or additional purchase through OTM.
Investors have to fill in physical form and submit to Investor Service Center or ask Financial Advisor to Help in the same.