One Time Mandate
What is OTM?
A One-Time Mandate (OTM), also known as a NACH mandate, is a facility that allows mutual fund investors to automate their investments (like SIPs) by authorizing their bank to debit a specific amount from their account, up to a predefined limit, based on requests from the mutual fund house. It simplifies the investment process by automating recurring payments and offering flexibility in terms of amount, frequency, and duration
- Bank account details - An investor can give the details of only one bank account in one OTM- the bank name, account number, the account type along with the IFSC code has to be mentioned.
- Personal details - In this section, an investor provides his/her name, PAN number, address, email and mobile number as well as the details of other account holders if they are in joint OR either or survivor basis holding.
- Upper limit - Here, you need to mention the upper limit that you will allow to be transferred through OTM. Please note that your mutual fund transaction will go through only if the investment amount is within the upper limit.
- Investment Details – You need to provide the folio number or application number and the asset management company name.
- Period of OTM – You must mention the period – From and to month/year. You can also tick the default period which is December 2099. You may also choose the option ‘until cancelled’.
- Signature – Once you have filled in the above details in OTM form, you have to sign the form along with the other holders, if any, in your bank account. Please note that the signature on the OTM form should match with the one registered in your bank account.
Benefits of OTM
- The first and most obvious benefit of OTM in mutual fund is that it makes mutual fund investments hassle free, by taking a one-time consent from investors and then automating their investments for the given time frame.
- The investor needs to register for the service once, post which the required money transfers are done automatically and regularly. If you have an OTM mandate, you need not necessarily use net banking.
- Investor’s funds are realized on the day of transaction, therefore, the chances of unit allotment on the same day is very high.
- This ensures that you as an investor continue the process of investing in SIP or lumpsum in a disciplined manner, without any hiccups.
- One can register for multiple SIPs under a single OTM, while making sure that the aggregate value of the registered SIP should not exceed the specified mandate limit.
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This fund from a 360 ONE Perspective
OTM Documents
At 360 ONE Asset, we value our clients' priorities and requirements beyond the scope of just transactions, both in their professional and personal lives. To this end, we regularly curate a host of asset management events and other programs that bring together our fraternity of investors to foster meaningful interactions centered around our shared vision of wealth creation and financial progress.Through our homegrown programs, we offer unique immersive experiences, keeping our clients and their families ahead of the curve.