How to update bank account on a PPFAS folio

Sun, 17 May 2026 00:00:00 +0000

Updating the registered bank account on a PPFAS folio is a routine service request, but two operational implications make it worth thinking through before submitting. First, SEBI prescribes a 7-day cooling-off period after any bank-account update: the AMC holds redemption proceeds, SWP credits, IDCW Payout credits, and other large-value credits for seven days before paying them to the new account. The measure is anti-fraud (prevents an attacker who has compromised the SelfInvest login from also redirecting an immediate redemption to a different account) but it means a planned redemption right after a bank update will sit waiting. Second, existing NACH or UPI Autopay mandates do not move to the new account automatically; they remain attached to the old one. To shift SIPs, you register a fresh mandate at the new bank and update the SIPs to use it. If you are also closing the old account, sequence carefully so SIPs don’t fail in between.

Folio Update on WebNotes

How to update bank account on a PPFAS folio