Video Tutor-How to fill the NACH Application Form?

Now from 1st May, 2016 NACH is mandatory and which is replacing ECS format of registration. But I found many finding it difficult to fill it. Hence, thought to create a video which can help many.

Usually, many of us used to register ECS for SIP of Mutual Funds, Utility Bills, Insurance Premiums, Credit Card Bills, or any payment, which you feel recurring in nature. However, as I said above, from 1st May, 2016 NACH will come into picture.

I already wrote a detailed explanation of what is NACH and how it is beneficial to all of us. You can read that post from below link.

For the benefits of users, I am once again simply sharing this image to show how the NACH process works in real.

NACH (National Automated Clearing House)

I found that and heard from many that there are huge rejection in NACH applications from bank end. The main reason for rejection is a signature mismatch. Also, many of us of not aware of how to fill the NACH application properly.

Considering all above points, I found it necessary to create a video tutor. Hope you like the below video and share with all.

I already mentioned few points in this video, which are very much important while filling NACH form. For the benefit of readers, I am once again pointing it here.

  1. Don’t leave the fields which are mandatory to fill.
  2. Leave the fields which are not meant for you (I already explained those fields in above video.
  3. Never try to overwrite, alter or using white ink. Treat this form as if a bank cheque leaf.

Hope this information will be helpful for all of you.

26 Comments

  1. Dear Basu

    Your blogs are really helpful and amazing.

    This is my current SIP portfolio and my invest horizon is 10+ years. My age is 32 and currently building wealth for my kid’s education and for future savings.

    1) Birla sunlife MNC fund – 1K from June 2015
    2) HDFC TOP 200 fund – 1K from June 2015
    3) ICICI discovery fund – 1K from Mar 2016
    4) HDFC Balanced fund – 1K from May 2016

    As part of my debt portfolio i am investing in the below
    1) LIC – 50K per annum
    2) PPF – 20K per annum

    Queries:
    1) Please review my portfolio and let me know how the funds are performing? Any changes you recommend?
    2) Apart from FD’s what are the best funds/options to invest for a short period say 2 years to get slightly higher returns?

    Thanks
    Karuna

    Reply
    • Karuna-1) You just need two funds like HDFC Top 200 and ICICI Discovery. Do you think LIC debt product? Are you able to balance like investing more in same LIC policy? Think twice.
      2) Arbitrage Funds.

      Reply
      • Thanks for your response Basu.

        Based on your blog (http://www.basunivesh.com/2015/10/26/top-10-best-sip-mutual-funds-to-invest-in-india-in-2016/) I had recently opted for HDFC balanced fund . Apart from Large cap (HDFC TOP 200) and Large &Mid cap fund (ICICI Discovery fund). I was continuing BSL MNC fund under Small & Mid cap category fund.Do you think this BSL MNC fund is performing badly and can i continue with HDFC balanced fund ? The main idea was to create fund for my kid’s education and future savings (Corpus fund )

        Yeah i know i am investing heavily in LIC and i started 9 years back in New bima gold – money back (30K) and Jeevan anand (20K). I am willing to close Bima gold but worried how much would be my returns. Hence i had to continue this.Still 11 years to go with both policies? Please recommend your suggestion?

        Any specific fund house you recommend under Arbitrage funds?

        Thanks
        Karuna

        Reply
        • Karuna-BSL MNC fund is not a small and mid cap fund but a sector fund which mainly invest in MNCs. Hence, I consider this as sector fund. Stay away from such fancy names. 11 years of LIC payment is long one. Instead I suggest you to try for surrender (loss may be there and think about it based on how flexible you are to bear the loss). You can go with ICIC or Kotak Arbitrage Funds.

          Reply
          • Thank you Basu for the response.

            Reply
  2. hi sir, greetings of the day,
    currently im investing some funds and in epf,
    1- F I BLUCHIP FUND, 2- FI PRIMA PLUS, 3- F I SMALLER COMPANIES, AND contribution in EPF,

    i just wanted to know what should be investing percentage for same, suppose im investing 10000 per month then how much in bluechip, and how much in other funds…should i continue as 2500 rs. each, or should i modify ? u always helped me, now im seeking ur valuable reply…thnk u in advance..have a grt time and day

    Reply
  3. Hi Basu,

    I am investing below in below funds from last 1 year, just want to know that have i picked good funds & what ist here current performance. All are direct funds

    Axis Long Term Equity Fund(SIP-12,500)
    Tata Balanced Fund(SIP-7,000)

    Reply
      • Thanks for your replay.

        This is my whole plan for investment, some funds are already started & some are yet to start. All are direct funds. Kindly suggests whether i am on right track or not

        1. Axis Long Term Equity Funds (G) —( For Tax Savings)
        2. Tata balanced Fund(G)- –( Have Plan for 6 Year)
        3. Birla Sun Life Frontline Equity Fund (G)
        4. Mirae Emerging Bluechip Fund (G)
        5. Franklin (I) Smaller Companies (G)
        6. Birla SL MIP II-Wealth 25 (G) —-(For any Emergency like if i lost my job)
        7. Money in Saving Account (3 month salary -if i want liquid cash at any point of time)

        Reply
        • Abhijit-I dont know your tenure of investment. Then it is hard to guide you.

          Reply
          • Except Axis & Tata, for rest of the funds tenure of investment is of 10 years or more than that

            Reply
              • For
                1. Axis Long Term Equity Funds (G) —( Plan to invest for next 5 years)
                2. Tata balanced Fund(G)- –( Plan to invest for 6 Year)

                Reply
                • Abhijit-Stay away from equity if your time horizon is just 5 years.

                  Reply
  4. hello sir your 15g form video very helpfull for me..but 2 row are dont fill up on 15g form…how to calculate 16 & 17 numbur rows on 15 g form please sir help me

    Reply
    • Abhishek-In 16th field, you have to mention the amount of income for which you are submitting this Form 15G. In 16th field, you have to mention your total estimated income (include the amount of field 16th).

      Reply
  5. Gm Basu,

    Thanks for your Video………………Now the Question is that wheather the Authrority will proactively come back to Us for the Use of NACH …………..OR I should do the needfulll………..personaly??/
    Because I have running ECS from MFU………….AND ECS for bill payments from hdfc bank……….?
    Kindly Guide us…..Thanks Basu !

    Reply
    • Mayuresh-Existing ECS will continue as usual. But fresh ECS registration will be stopped from 1st May, 2016. So you no need to worry.

      Reply
  6. Thank you fir the very informative video.

    Reply
  7. Dear Basavaraj ,

    Good to heard you again ……Thanks again for sharing your valuable information…not only through your written post also parallel with video tutorial guidance.
    Your video tutorial guidance acts a SPICE…. in our regular reading diet…..
    Your humble VOICE …creates a PERSONAL BONDING along with a feeling of more closeness with YOU………..

    Reply
  8. Dear Basu ,

    Great… Very much value-able video.
    Keep creating such a value added, informative Video tutorials parallel to your written blog.
    One can easily understand and visualize the process by video tutorial.

    Also last but not least we are learning by having your personal touch of your “VOICE”.

    (Copied my comment from your FB wall)

    Reply

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