COMMON ONE TIME MANDATE
No one enjoys filling forms. Especially if it has to be repeated. With the enhanced PAN – based Common One Time Mandate from CAMS, investments can be done in any number of SIPs across all funds serviced by CAMS – with just one mandate. No more filling up separate mandate every time a Systematic Investment Plan (SIP) is started / renewed. Once the Common OTM is registered, starting/renewing SIP is a breeze just by quoting the unique common mandate registration number.
That’s not all! Common One Time Mandate can also be used for lumpsum purchase across any of the folios* without having to write out cheques or net banking.
Free yourself from cumbersome forms, procedures and cheques with the power of Common One Time Mandate.
Common OTM brings the following benefits
- Common OTM across all CAMS serviced Funds eliminates paper work and process time associated with separate mandate registration for each SIP
- Faster commencement of SIPs – when submitted with registered Common OTM reference, new SIPs and renewal SIPs can be commenced in 5 – 7 days as against individual mandate registration time of 20- 30 days
- Effective utilization of window upto 3 pm for electronic transactions – no forms/cheque submission
- Go beyond SIPs - Lump-sum purchase can also be conveniently done without issuing cheques / net banking. Simply select Common OTM as payment option.
- Freedom from dates and restrictions - Any date, Any number of transactions. Common OTM is set up for “As and when presented” option and hence does not have date restrictions. Any number of transactions can be presented for any date. The mandate amount is applied for each transaction.
- Investment through any mode - once the mandate is registered, transactions can be submitted through any mode i.e. Physical paper /SMS/Website / Mobile app by simply selecting the CAMS Common OTM
- Investment without Cheque/DD/Net-banking/Standing Instruction - simply quote the unique mandate registration number and submit transaction
- Common OTM registration can be done across 800+ banks
- Elimination of time spent on rework and resubmission when mandates are rejected