SIP Autopay allows you to set up a payment mandate that automatically debits the Stock SIP amount. The amount is debited from your bank account based on the SIP date you have selected. Autopay helps you be consistent with your investments and is a great way to save time. 

To set up an Autopay, you need to create a bank mandate as per the below steps:

1. Log in to your Upstox account

2. Switch to Upstox Pro mode

3. Head to ‘SIP’ in the Orders tab

4. Select the SIP Order for Autopay

5. Click on ‘Setup a new Autopay’ 

6. Select the payment method:

  • UPI for up to ₹15,000
  • Net Banking for up to ₹2,00,000

7. Click on continue and you’ll be redirected to the UPI app or the Net Banking page

8. Approve the mandate and you are done

Ensure that you have sufficient funds in your bank account for your SIP payments. If there’s insufficient balance in the case of Net Banking, you might have to pay bank charges.