You can start SIP in 7 days with CAMS’s digiSIP

CAMS has launched ‘digiSIP,’ a 100 per cent digital process to start a new Systematic Investment Plan (SIP) through its website. The digiSIP helps investors to start the SIP in just seven days. Currently, the SIP starts only after 30 days.

“It is a fully electronic process beginning with a KYC registration, filling up the form and registering e-mandate,” says Anuj Kumar - Deputy CEO, CAMS Asset Management Services.

A first-time investor who is not KYC compliant can complete Aadhaar-based e-KYC online. Form to start a new SIP can also be filled online without requiring investor’s signature.


If the investor has not registered the mandate for payment, it can be done online. Generally, registration of e-mandate takes five to 20 days, but the registration process can be reduced to three days via digiSIP.

Once registered, the e-mandate can be used as a common mandate for all mutual funds serviced by CAMS. “Investor will not be urged to do this process again and may choose the single registered mandate for any number of SIPs in any mutual funds serviced by CAMS,” says Kumar.

A returning investor need not enter all the personal details again while filling a form to start another SIP. He or she may come only with his or her PAN number and remaining details, including nominee, will be fetched from the CAMS database and filled in the form automatically.

CAMS offers both direct plan and regular plan to investors through digiSIP.

SIP has been gaining popularity among equity investors, as it helps in rupee cost averaging and also investing in a disciplined manner, without worrying about market volatility and timing the market.

AMFI data shows that on an average, the mutual fund industry had added about 9.70 lakh SIP accounts each month during the financial year 2017-18 as against an average of 6.27 lakh SIP accounts each month during FY 2016-17.

“Better experience with a complete paperless speedier process and reduction in physical efforts, adds up to a transformational experience for investors,” says Kumar.