AngelOne is missing a feature available on Zerodha which allows to transfer money from the bank account to the brokerage account automatically at certain date using the eMandate.
This is a very useful feature. Eliminates need for manually transferring from the Bank Account for Stock SIPS. Automatic transfer from Bank Account before a day or two of the Stock SIP will make it really meaningful SIP process.
Unless there is commercial reason of forcing users to transfer money at beginning of the month for Stock SIPS (enabling the accumulation of interest on unused money for the benefit of the brokerage ) it will be more useful for AngelOne to bring in automation of transferring of money from bank account just day or two prior to target Stock SIP date.
Angel One has introduced the feature of ‘Bank Mandate’ for its Stock SIPs. This allows for the automatic transfer of funds from your bank account to your trading balance on a specified date.
By creating a bank mandate, you can set up periodic transfers without needing to manually initiate the process each time. This feature simplifies the funding process for your Stock SIPs, ensuring that the funds are transferred automatically and on time.
The documentation that you point to is not clear how to setup periodic transfer using the bank mandate. (Web Portal)
There is no option neither on SIP window or on the Funds Transfer page link with an existing bank mandate or setup periodic transfers using the bank mandate. (Web Portal)
Only place an option to link bank mandate is available on MUTUAL FUND SIP page. That seems to be completely different section unrelated to Stock SIP.
How can we use the same bank mandate to link with the STOCK SIP ?
Even the customer service representative does not know about what you just mentioned as an available feature.
) it will be more useful for AngelOne to bring in automation of transferring of money from bank account just day or two prior to target Stock SIP date.