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PDF Editor FAQ

Is Saturday a working day for an LIC office for receiving a premium?

1st, 3rd and 5th saturday of every month is a working day for an LIC office for receiving premium. But, you can pay premium through alternate channel.One way of making LIC payment is ECS. You can give standing instructions at your bank & LIC through mandate form. This ECS mandate forms are also available at LIC branch office.ICICI or Corporation bank account holder can give standing instructions at bank for direct debit for LIC premium payments.You can download LIC mobile app and make premium payment online using windows or android based smart phone.

What are the benefits of NACH debit to banks?

Benefits of NACH debt are as follows:Standardization and digitization of mandates allowing a complete audit trail of the Mandate lifecycle.Simplification of the mandate acceptance and recording process.Will result in a reduced operational cost for the banks and their clients.Will result in higher revenues for the banks and its clients as the scope of services expands pan India - beyond the 90 clearing centers.Unique identifier number allocated to each mandate (UMRN – Unique Mandate Reference Number).Secure web access for file upload/download, dissuading the concept of regional NCC/Clearing House submissions.Mandates can be processed by the member for any branch across the country.Allows corporate clients to directly upload files for approval (DCA).Functions on International Messaging Standard - ISO 20022.Minimal time is taken to activate the Mandate – same-day processing possible.Corporates get to have direct access to the NACH systems, making it easier for them to get access to the status of transaction/mandate without delay.Reduction of the uploading work to the sponsor banks since the file upload will be done by the corporates themselves

How can I invest for SIPs in mutual fund online if I don't have any option of net banking? How can money be deducted from my account every month?

Hai,You don’t need to have online net banking for starting auto debit SIP. You have other options for starting auto debit SIP. Below are other options.If your aadhaar number is linked to a mobile number then you can start auto debit SIP using E-mandate. You can use E-mandate for lumpsum investments also. Daily limit of E-mandate is Rs 1,00,000.You can use Nach Mandate also for auto debit SIP. For Nach mandate, you just need the bank account number. After registering Nach mandate, you should download the Nach mandate form and visit the bank home branch for mandate approval. Once the mandate is approved, you can invest whenever you want.Jama is one of best direct mutual fund platform in India. In Jama, you can start an auto debt SIP within 5 minutes.For more information please visit, https://www.jama.co.in or call me for more help. My contact number 8008913071.

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