I have an SIP scheduled for the 5th of every month. When should I schedule my eMandate transaction to ensure that my account is funded?
You can schedule a date on or before the 5th of the month. Since the bank confirmation of the transfer can be delayed, you should schedule your e-Mandate transaction a couple of days in advance.
Your bank account will be debited one working day before your scheduled date. You will receive an SMS/email confirmation of the debit one day before the amount is debited from your account.