E-Mandates and fund transfers using eMandate at Upstox are free. Banks may, however, charge a penalty if a transaction fails due to insufficient funds.
The banks also charge a fee for verifying mandates. Charges per bank are as follows:
Banks | Amount in ₹ + 18% GST |
|---|
ABHYUDAYA CO-OP.BANK LTD | 50 |
|---|
ALLAHABAD BANK | 50 |
|---|
ANDHRA BANK | 100 |
|---|
AXIS BANK LTD | 115 |
|---|
BANK OF BARODA | 115 |
|---|
BANK OF INDIA | 201.25 |
|---|
BANK OF MAHARASHTRA | 115 |
|---|
CANARA BANK | 150 |
|---|
CENTRAL BANK OF INDIA | 100 |
|---|
CORPORATION BANK | 100 |
|---|
COSMOS CO-OP BANK LTD | 100 |
|---|
DENA BANK | 50 |
|---|
FEDERAL BANK LTD | 100 |
|---|
IDBI BANK LTD | 50 |
|---|
INDIAN OVERSEAS BANK | 100 |
|---|
JAMMU & KASHMIR BANK LTD | 100 |
|---|
JANATA SAHAKARI BANK LTD | 50 |
|---|
KARNATAKA BANK LTD | 100 |
|---|
KARUR VYSYA BANK LTD | 100 |
|---|
KOTAK MAHINDRA BANK LTD | 50 |
|---|
LAKSHMI VILAS BANK LTD | 100 |
|---|
ORIENTAL BANK OF COMMERCE | 100 |
|---|
PARSIK JANATA SAHAKARI BANK LTD | 200 |
|---|
PUNJAB NATIONAL BANK | 100 |
|---|
SARASWAT CO-OP BANK LTD | 50 |
|---|
SOUTH INDIAN BANK LTD | 100 |
|---|
STATE BANK OF INDIA | 50 |
|---|
SYNDICATE BANK | 236 |
|---|
THANE JANATA SAHAKARI BANK LTD | 100 |
|---|
THE THANE DIST.CEN.CO-OP BANK LTD. | 100 |
|---|
UCO BANK | 200 |
|---|
UNION BANK OF INDIA | 115 |
|---|
UNITED BANK OF INDIA | 100 |
|---|
VIJAYA BANK | 130 |
|---|
Mandate verification fees are not charged by the following banks:
Banks |
AHMEDABAD DIST.CO-OP.BANK LTD |
AU SMALL FINANCE BANK LTD |
BANDHAN BANK LTD |
BASSEIN CATHOLIC CO-OP.BANK LTD |
CITI BANK |
CITY UNION BANK LTD |
DEVELOPMENT CREDIT BANK LTD |
DOMBIVLI NAGARI SAHAKARI BANK LTD |
HDFC BANK LTD |
ICICI BANK LTD |
IDFC BANK LIMITED |
INDUSIND BANK LTD |
PUNJAB & SIND BANK |
PUNJAB AND MAHARASHTRA CO-OP BANK LTD |
RATNAKAR BANK LTD |
SHAMRAO VITTHAL CO OP BANK LTD |
TAMILNADU MERCANTILE BANK LTD |
YES BANK LTD |
Note: The charges are subject to banking norms and may change. Get in touch with your bank's customer service department for more information.
