How many ways can I create a mandate, and which should I choose?
There are three ways to set up a mandate on RankMF:
OTM (One Time Mandate) – an electronic mandate registered either through net banking or via Aadhaar-based authentication, which stays valid for future SIP debits once approved.
UPI Mandate – set up directly through your UPI app, where you approve the mandate once and it auto-debits your SIP amount going forward, similar to how UPI Autopay works for subscriptions.
Physical Mandate – a signed physical form (NACH mandate) submitted to your bank, used when electronic registration isn’t available or hasn’t gone through successfully.
UPI mandates tend to be the fastest to set up and get approved, since it’s a one-tap authorisation from your banking app. OTM through net banking or Aadhaar is also fairly quick, while a physical mandate can take longer since it depends on your bank’s own processing timelines.
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