How to get rid of bank charges on SIP auto debit

As far as we know, some banks charges a one-time fee for setting up the SIP and also levy a bank charge in case the SIP ECS is bounced due to non availability of funds.

However, banks do not charge any fee on your regular auto debit (irrespective of the frequency - weekly, daily, fortnightly or monthly) of SIP from your bank account.

We also understand, that though few banks charge a one-time fee for setting up the SIP for the first time. most of the banks do not levy this charge. Therefore, you need to check with your banker and understand if and why they are levying this charge as mentioned by you?

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