E-NACH's full form is Electronic National Automated Clearing House. It is an automated payment system that allows auto-debit of payments. To activate NACH, one must fill out the mandate with a bank and submit it. Once verified and accepted, the amount will be auto-debited according to the instructions.

Step 1: Starting E-Mandate Journey. To start, click on the NACH e-mandate link on our website.

Step 2: Validation of Loan Information. The link takes you to login of e-mandate page. ...

Step 3: Completion of E-Mandate form. ...

Step 4: Completion of Transaction.

NACH mandates ensure timely payments, which reduces the risk of bad debt and improves overall financial management. 

Benefits of E Nach:

1. No need of cheque book/PDCs while availing loan facilities
2. Simple and hassle-free process for collecting recurring payments
3. Enhanced user experience as a result of error-free registration and payment automation
4. Avoidance of late fees and penalties due to timely auto-debit of transaction amount
5. 24 X 7 capability for mandate registration directly from website, no need to visit the branch

Filling a NACH application form is easy. Here is what all needs to be done to correctly fill a NACH form:

1. Date: Enter the date in DD/MM/YYYY format
2. Name: Mention your name as per bank records on the NACH mandate form
3. Telephone Number: If you want, you can also specify your telephone number. This is optional
4. Email ID: Email ID is another contact detail that’s optional.
5. Account Number: Write your bank account number
6. IFSC / MICR Code: Fill in the code that applies
7. Loan account Number: Mention your loan number
8. Debit Start Date: Mention the first due date
9. Debit End Date: Mention the Last due date
10. Frequency: Mention the frequency of debit. For instance, every month, bimonthly, tri-monthly etc.
11. Payment Mode: Select whether the Debit Card/Net banking
12. Account Type: Tick the bank account type from the list
13. Sequence Type: Select whether the mandate amount is recurring or one off.
14. Click Register Now

NACH Mandate Form Filling Guidelines

These are the following points to keep in mind while filling the NACH form online:

1. Fill All fields: It's mandatory to fill all fields in the NACH mandate form.
2. All Caps: Mention Name and Bank Records in full capital letters
3. Correct Name: Name in NACH form should be the same as is mentioned in the bank account
4. Cooperative Bank: If your bank is cooperative check for the valid IFSC/ MICR number

NACH Form Terminologies

1. UMRN: UMRN stands for Unique Mandate Reference Number. As the name indicates, it's a unique reference number created during each NACH debit. It's generated automatically by the NACH system. UMRN is mandatory for every transaction and is also needed for the purpose of amending or cancelling NACH mandate.