What is one Time Mandate (OTM) ? • RoboAdviso | Best Blog for Mutual Fund and Investment in India
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Ask RoboWhat is one Time Mandate (OTM) ?
Ranchit Sugantha asked 2 years ago
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9 Answers
Robo Adviso Staff answered 2 years ago
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The Advanced System of transferring Money eases the payment transfer facility through SIP ,

Earlier, say, you invested in an MF scheme and after three months decided to invest in another scheme or start an SIP. Even if this was your second SIP, a fresh mandate was needed; the (lump sum) application or SIP form and a cheque had to be given. This is because in the earlier (ECS) system, the mandate did not get registered for subsequent investments.

Under NACH, you need to give the mandate only once. Each fund house will require a mandate, but these will hold for all schemes within a single fund house. This is called the one-time mandate (OTM). For a fresh investment, you need to fill up the OTM and specify a maximum amount that you think you might invest cumulatively in that fund house. Once NPCI registers the OTM, whenever you decide to invest in that MF, all you need to do to make additional investments is submit a form or send a text message. You do not need to give a fresh cheque or transfer the money using Net banking.

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