Introducing Coin – our Direct Mutual Fund Platform
Investors,
Mutual funds today can be purchased in two ways – either through a distributor or directly from the AMC.
Through a distributor
When purchased this way, the distributor earns an upfront commission of upto 1.5% on your investment and a trail commission of up to 1.5% every year for as long as you are invested in the fund. Yes, that much! These commissions earned are the reason everyone from your bank to brokerage would be pushing you mutual fund ideas to invest in.
I am guessing a lot of you would have known that if someone is selling you a product, he is earning something upfront out of it. But what most people don’t know about is the concept of trail commissions that is earned by distributor. Every year for as long as you are invested, the distributor keeps earning upto 1.5% of your investment as commission. Since most people who invest into mutual funds do it for longer term, the commission paid as trail can take a big bite of your investment . For example Rs 5000 SIP invested monthly for 25 years, you could end up paying almost Rs 30 lks as commissions, almost 20% of your corpus. (assuming you make 15% p.a compounded returns, paying a modest 1% as upfront and 1% as trail)
Direct
Purchasing mutual funds direct would mean investing with the fund house directly without using distributor as intermediary. This would mean a saving of both upfront and trail commission on your investment. To invest directly, you can visit the fund house’s website or office, fill up the form and invest into the fund.
The flipside to this is that you have to track investments in different funds separately, sign multiple NACH forms for SIP, extremely inconvenient to stop the SIP, make your own capital gain statements and etc. All investments done today by institutions are in direct mode. But almost 90% of all investments by retail investors are still through distributors because of lack of awareness or access to a convenient platform to invest with the “Direct” option.
A recent circular from SEBI allowed exchange platforms to offer direct mutual funds in demat form, and …
Introducing Coin – our direct mutual fund platform
- No commissions whatsoever on your investment – either upfront or trail.
- Direct mutual funds in DEMAT form, with convenience of one portfolio across equity, MF, currency, etc.
- Single capital gain statement, P&L visualizations, and more.
- Easy SIP – start, stop, modify anytime you want.
- NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
- Coin has been absolutely free since August 24, 2018.
Our previous platform mf.zerodha.com was in distributor mode and will start redirecting to coin.zerodha.com from today. We have been able to go live with coin thanks to SEBI’s recent move to allow exchange platforms to offer direct mutual fund investments.
All new mutual fund investments by default will be direct. Your existing mutual fund holdings and SIPs bought on mf.zerodha.com will remain in distributor mode (and there will be no subscription fees for them). If you want to switch your current funds or SIPs from distributor to direct, you may exit them and invest afresh.
To continue purchasing of mutual funds through our earlier distributor model, you can visit this link which can also be seen on the footer as non-direct regular funds on coin website.
Do check this link on tradingqna, for all FAQ on coin.
We are able to work at such razor thin margins as a business by keeping our operational costs low and not spending on advertising. Do help spread the word. You would not only help us sustain the extremely low pricing model but also maybe help your friends and family save lakhs of rupees as commissions on mutual fund investments that they might be paying unknowingly.
Go direct, http://coin.zerodha.com/
Happy Investing,
pl suggest best mutual fund to invest
I have 2 ELSS schemes and one small cap MF.How do I close the DEMAT account and keep the MF.I understand that its complicated as shares are held in DEMAT form
Hi Manish, you cannot close your account if there are holdings in it. Also, you cannot just close your demat account without closing the trading account as well.
Hi Nithin,
You are doing a great service to the investor community by providing access to a low cost MF platform.
Just for my personal curiosity – I’d like to understand the business logic since someone has to pay the bills for operational expenses, no matter how efficiently the operations are being run. Please help in understanding this.
Hi, I have over 20L mutual fund of AUM invested through MFCentral.
Is there any chance of them being reflected in the coin app?
Also, are there any charges for investing through Coin?
Awaiting for your response.
Thanks 🙂
Hi Anmol, mutual fund units held in other platforms cannot be tracked on Coin, currently. This is on our list of things to do. Also, there are no charges for investing in mutual funds through Coin.
I have a very novice question. If I top up some funds in a MF in which i already have a AMC SIP ongoing, does it show separately in my portfolio or does the top up get added to the same fund which the SIP is going on?
Any limit on size or number of schemes
Is there any way to invest for 2-3 family accounts in one go under direct category
My number
9833452574
Hi Vinay, there is no limit on the number of schemes you can invest in. You cannot place a bulk order for multiple accounts at once. You will have to place them individually.
6) why is cutoff time 1.30 pm it should be 3.00 pm
We also need time to validate balances and process your orders. 🙂
5) if i purchase mf from branch they give me folio number, same process is in coin. How will i know my folio number
Suppose i buy mf in coin say icici large cap, after few days i again buy same fund ie icici large cap them my folio number will be same or different
You can see the folio number on Coin. However, since your mutual funds are held in demat form, this folio number doesn’t mean much. All you need is your demat account number. All your mutual fund investments are mapped to this.
3) If i want to redeem fund the amount will be send to bank account or in zerodha account
4)if units are in my coin account, can i do any transaction ie switch or redemption from mutual fund branch or cams
3) The redemption amount is credited to your Zerodha account.
4) No.
2) If i have some units of mf in coin, can i switch from one scheme to another, eg suppose i have debt fund of say axis MF, can i switch to axis large cap fund or any other fund of axis mutual fund.
If yes then will i get NAV of same day ie i switch on Monday and my buy nav of new scheme will be of Monday (if my amount is less than 2 lakh) or same T+2 applies in switch
You will need to redeem and invest in the other fund. We’re currently working on the switch functionality, but this will take some time.
i want to invest in mf through coin, but i have some problems
1) suppose i sell stocks of 10,000 in kite before 1.30 pm on Monday and my previous balance was say 1,000 total 11k, but as cash settlement is t+2 in stock mrkt, can i buy MF through coin before 1.30pm worth 10,000 on same day
if yes then my NAV will be of same day ie Monday or it will be of T+2 day Wednesday.
Munish, you’re right. You won’t be able to sell the shares and use the amount to purchase mutual fund on the same day. Once the ledger entry has been made, we consider the balance for your Mutual Fund purchase orders. The ledger entry is made by the end of the day. Therefore, you can place the purchase order the next day.
Hello,
When I try to login to coin, I am getting below error.
“Mutual Funds is not enabled on your account. The exchanges may take 24-48 hours from your account opening to activate your Mutual funds account.
Please contact Zerodha support for further queries.”
Please help me to resolve it.
Best create a ticket on our Support Portal and someone will be in touch to help.
Hi Nithin,
Am I missing something, Kindly explain……………
Direct Plans ……………………………. Regular Plans
Investing in ICICI Prudential All Seasons Bond Fund…growth (sayRs 100000)
A) purchase units on 16/04/2017 ………………………………………..
100000/NAV(20.7871)= 4810.67 units ………….. 100000/NAV(20.41)=4899.56 units
B) Redeem units on 24/07/2019 ……………………………………………
Value= 4810.67X NAV(24.8490) ………… value=4899.56 XNAV(24.07)
=Rs 1,19,540 =Rs 1,17,932
C) Expenses ………………………………………………………………………………
26monthsX 50= Rs 1300
4) Net profit …………………………………………………………………………………….
B—(A+C)= 119540-(100000+1300) ……. …………. B – (A+C)=117932—100000
=Rs18240 =Rs17932
1) How much to add for redemption charges and any other charges ?
2) Difference between Direct and Regular PLANS is hardly Rs (18240—17932)= Rs308
3) The above fund is already their in Zerodha demat account.( But only Rs5000 )
4) I was thinking of purchasing 20 lakhs balance funds for long term. Kindly coment ?
Santana S. Pereira
i raised a redeem request for 2 funds(Kotak Bluechip Fund & Axis Liquid Fund ) on the same day and for Axis Liquid Fund its credit in T+2 days but Kotak Bluechip Fund status is still “Awaiting payment from AMC”. it’s been T+3 days now, still, my account is not credited. what should I do now and how long should I wait?
i already got direct mutual funds in different AMCs, Can I link those folios here in coin.
Yes, you can. The process is explained here.
I am currently using coin since last 2 Years. I feel the much needed feature required in coin is option to create different portfolios for meeting different goals. I remember zerodha launched one similar product in past for meeting goal based investment needs but that didn’t work quite well. I think having an option to create multiple portfolios can help to meet the different saving goals. Much needed feature available in different apps but missing in coin.
On our list of things to do. 🙂
Any timeline at which this could be implemented ? I have spent my entire day today to know which apps are the best, reliable and provides top advisory services for Portfolio Rebalancing on Goal Based Saving theme. Some app names came very handy. So even thought to switch from coin to those apps( starting making SIP’s on those ) because in this era where we are struggling with rapid transformations of user needs and requirements, it becomes very essential to upgrade our products to strive the changing simple and smarter market trends and requirements. I think I opted for coin in the initial phase because at that time, it was one of the very few platforms that started offering direct mutual funds ( even gave some suggestions to Nithin for adding some missing features from user experience perspective) but now things have changed for me as a user. There is a strict need to revamp the coin platform with something unique, smarter and AI powered decisions making capabilities that other platforms are not offering.
Hey Vishal, we display the NAV and the expense ratio on the fund page itself. As for the underlying holdings of a fund, we are exploring ways to show them in the upcoming update to Coin.
We have always stayed away from advisory, but we are always exploring ways to make fund discovery and slection easier.
Hi,
Please improve the mutual fund details like there is very less info about mutual funds like there is no info about NAV, expense ratio and in which holding they are investing and if you tell pros and cons about the mutual funds that would be better
Refer to my ticket#20190312441542.
I have reported that Upfront commission ind MF investments has been stopped since April 2018 by SEBI, but Zerodha is still miss leading customer that distributor earns an upfront commission of up to 1.5% on your investment.
Please verify and do the needful.
Thanks
The email in question has been modified.
Hello,
Can NRI’s invest in direct mutual funds?
If yes, can they use their own banks (not just HDFC or AXIS)?
At least can you have SBI Bank enabled for NRIs to invest?
Thanks for your reply.
Not right now, but we’re working on this.
Whats status of SWP ?
We’re currently working on this. Should be live in a month or so.
hi
just want to ask is there any updates on coin for NRI’s.
are you now supporting investments from NRI in coin
Any reply from Zerodha team ?
Hi Nitin/Zerodha Team,
Do you have any plans to have a feature where we can invest in USA Index funds using Coin ? This would give a very unique ability to your platform.
Why is “mirae asset emerging bluechip fund” not in your coin list ? Are there other funds also missing ?
Vikas, this fund is available on the Coin Mobile App. Since the fund is not accepting fresh lumpsum investments, we have AMC SIP available in the mobile app. More info here
Thank you Faisal. The link is very informative.
So, as I understand, as the fund accepts only on 10th of every month. So I have set up SIP for 10th.
Dear Nithin,
Since its been almost a year and half, is the option to create Multiple Goal based portfolios (DIY) and creation of different folios of the same MF scheme to align and monitor performance of them individually would be highly appreciated and be a great incentive to shift from other direct MF platforms to Coin. When can we expect this?
I am about start using Coin. Is there a possible to import existing MF transactions details into Coin ??
You can move your existing mutual fund holdings to Zerodha if they are in demat mode. However, you cannot import the transaction details
I want to start multiple SIP on my name, mywife’s name and mymothers name. Amount would be paid by through their bank accounts however I would like to view all these at a consolidate level. so questions
a. Do you provide such facility where from single account I can start all these SIP and manage
b. or if answer to above is no than do I need to create separate account for each member (myself, wife and mother) and pay monthly fee of Rs. 50 for each member
a. No, you wont be able to see the consolidated portfolio. You would need to setup separate accounts for your family members.
b. We’ve waived of the monthly fee. Coin is now completely free 🙂
Hi Zerodha Team,
My query is what will happen to my MF if I close my coin account but still want to keep my mutual funds.
You can still maintain your demat account and continue to hold the units. Alternatively, you can move them to another demat account or even rematerialise them to paper form.
I do hold a trading account with Zerodha and I am happy with it. But when Coin was introduced, I was a bit worried due to the monthly charge. There were a couple of other service providers who offered direct plans free of cost. Now there are many – Groww, Piggy, Clearfunds, Paytm Money etc. to name a few.
My question:
(a) Is Coin completely free now like Groww or Piggy that offers direct plans completely free life long irrespective of the number of funds or net asset?
(b) If not, can you please provide the customers with the justification for charging the monthly fee of Rs.50 without offering no additional feature.
Vishnu, Coin is now free, yes.
my AMC sip instalment is failed given reason is insufficient fund but in my amount there is enough amount for SIP
This email seems to have been sent out in error. Your order will be processed at 1:30 PM and you should receive an email confirmation for the same.
Hi,
I have few Mutual funds and equities in ICICI direct account. If I open an account here, can all those MFs and equities be transferred to it?
Please clarify.
Same here. What is an efficient option?
I too have the same question. I would like to transfer my MF’s to coin.
How do i do that.
Those are obviously regular.. What is the process to convert them to direct.
Hi Team,
I am a regular investor in Mutual Funds through the SIP route. I am planning to make some lumpsum investment in tax saving Mutual funds under 80C investments.
I wanted to know the total monthly / annual charges of Zerodha if I invest Rs 75K in 3 mutual funds (Rs 25K in each)? And what will be the charges if i increase the investment in these mutual funds in the next year?
Regards,
Paramesh
Coin is absolutely free ?
I mean 50 RS is not being charged ?
If yes, till what time ?
That’s right Bhargav. This is for good.
I am a new investor to MF, even with INR 50 per month as a charge for investing into direct MF, I decided to go ahead with Zerodha. Seeing news about absolute FREE of charge for direct MF, enhance my tempo… I was already impressed with simplicity of MF platform but with this news….. my happiness is double folded now !
Thanks a lot to team Zerodha…. keep it up ! We all are with you to take Zerodha at number 1 very soon -:)
Today i see Free, unlimited investmentson your website, when i open my coin.zerodha. What this mean??
Will Rs 59 fee not be charge from today onwards??
Please confirm
Same confusion here …..because on a website it still showing 50/Month
“Flat fees of just Rs 50/month for subscribing to Coin irrespective of number/value of MF transactions across all fund houses. Moreover, your first Rs 25,000 worth of investments is absolutely free.”
I have an account with zerodha & i have invested money in stock market and also in mutual fund . I want to increase the no of mutual fund to 5 with different portfolio ( currently 1 mutual fund) .
the issue is that i have become NRI , so want to ask , can i continue with my same account ( opened when i was in india) or open an account in the name of my wife ( She is in India) and transfer all my share and mutual fund to her account or do i open a NRI account in zerodha…. Please let me know in detail..
Hi Maharaj, if your move outside of India is temporary, you can use your resident account. However, if it’s a long-term thing, I suggest you invest via someone in India, as we are yet to start offering Coin to NRI (ironing out some issues with the banks as they too offer mutual funds).
I want to open an a/c to trade in equity mf etc.
Can you please help with all the charges that i will have to pay ?
If I am thinking to invest 5000 pm in mf and trade in shares as well ?
Are there any depository charges that will have to be paid monthly in case of holding equity shares, hdfc securities is charging me some 800 as depository charges for holding some 800-900 shares ?
Hi Nitin, This blog is helpful but how this 50 will be collected. Do we have to maintain sufficient balance in Zerodha account?
I moved from Fundsindia to Zerodha for the direct funds but feeling lost and stuck due to the lack of reporting. Please have a look at Fundsindia, they are providing simple dashboards with distribution of our funds in different categories. 🙁
Need better reporting for coin.zerodha.com for the subscription we pay.
No way to find out whats my equity to debt distribution of my funds.
I couldn’t even export my portfolio into excel.
Makes me re-think the subscription amount I am paying.
Hi Nitin Ji,
I invested MF through distributor before, can i now move to my Zerodha coin account so that i will have my Demat & MF together…..
Please suggest.
In Coin dashboard, could you please include NAV daily change percentage? (it was present in the earlier UI).
Harisha, daily change is available in the Coin mobile app. It was removed from the web version due to UI constraints. We are considering adding it back soon
Hi Nitin,
Thank you for making investing easy! Nice app, keep up good work.
Please explain below SMS received :
“Saving taxes and commissions just got better! All investements in tax saving direct mutual funds (ELSS) on Coin are now completely free.”
Currently I have portfolio which is exceeding 25k. Some are ELSS & some are non ELSS, how will I be charged?
Look forward to your prompt.
Thanks & Best Regards.
i have also both type of fund ELSS and non ELSS
now what to do for that?
if i sell my NON ELSS fund than will i charge 50 rs per month after that?
explain this
Hey Nehal, if you have non-ELSS investments below 25k, you wouldn’t even need to redeem these investments to unsubscribe from Coin.
i have more than 25k invest in non ELSS fund,
what should i do??
should i sold that and invest that money in ELSS fund???
You will be charged ₹50 per month as platform fee, if you have non ELSS funds more than 25K. You can choose to invest in ELSS funds but they carry a 3 year lock-in period
Hi,
I want to invest Rs 1 Lakh in ELSS (tax saving) scheme on your coin platform. Do I need to pay rs 50/month for buying this.?
Please explain all the terms, condition and scenario here.
No subscription charges for ELSS investments, Ambar. 🙂
Is the given statement true? It showed up in my profile.
‘Direct mutual fund investments in non ELSS schemes up to ₹25,000 are free! Investments in ELSS schemes are not charged.’
Please confirm. Thanks!
I read somewhere on Coin site that ELSS Direct funds are Free and you do not charge 50/- per month irrespective of 25K Limit. Can you confirm ? Thanks.
Teh text reads as
“Direct mutual funds subscription:
Direct mutual fund investments in non ELSS schemes up to ₹25,000 are free! Investments in ELSS schemes are not charged.”
Pls confirm. Thanks.
Hi nitin,
As mentioned if total MF held in coin account is less than 25K, no monthly fee will be charged.
Now I started investing in March and held my investment of 1.5 lakhs till May. However I was still charged Rs. 50 + GST for the month of June, despite my investment being zero.
Hi Vinay, you need to go to https://coin.zerodha.com/account and end the Coin subscription.
Respected Nitin sir
i am very happy with our coin for direct fund while i appreciate our need to charge something i have a small query
as a small investor i invest in small quatities in tax saver fund
since you are charging fixed 50 per month my request is to pls reduce this for tax saving fund which has lock in for 3 years so if i dont invest after say year i still keep paying 600 per year on investment of lets say 25000
pls take care of small investors like us i have shifted many of my investments to coin but my only issue is i wont be able to exit coin due to lock in in tax saver fund
regards and best wishes
Hi Nithin,
I have 4 SIPs running monthly all from different fund houses & from there official website in direct which means at 0 cost.
What’s the difference & features of going through Zerodha if opted (600rs a year is fine with me). I can see the pain of going on 4 different sites gets reduced plus I am not sure whether fund house sites provides feature of pause, increase or decrease in SIP amount, any more ?
Can I switch the platform for my existing running SIPs ?
Also can I add my Lumpsum investment already done on fund house websites to Zerodha just for tracking at one place ?
I think all the fund houses should stop accepting funds & send to Zerodha officially because you guys are brilliant. This will reduce there operating expenses & since you would get lots of transactions you can decrease the amount to below 600Rs a year so that it doesn’t get heavy on the small investors.
It’s been 2 weeks I am actively using Zerodha for Equity investments, got to know lots of unique websites specially opentrade dude – that concept of copy trading I tried on Etoro (Israeli startup) around 2011. Glad to know you guys tried & sadly it’s closing.
Smart Innovative Company, Proud User 🙂
IS THERE ANY SYSTEMANTIC WITHDRAWAL MUTUAL FUNDS IN COIN, I WANT FOR RETIREMENT AFTER 2 YEARS
We’re working on this, Hari.
Hi Nitin,
I do have an account with Zerodha in my name and my wife is the Nominee to the Demat Account.
I also have a Trading & Demat Account in my name with ICICI Direct. My wife is the nominee to the un-invested balance lying inTrading Account and also to the Demat Account for the investments in Shares. Further, I have investments in MF with several AMCs and my wife is the joint holder in each of these investments.
My queries are as follows:-
(a) Firstly, can I have a similar arrangement with Zerodha including investment in MF with wife as joint holder?
(b) Like in ICICI Direct, is it possible to see all investments in one place in case of Zerodha?
(c) If the demat holdings (mostly MFs) are about 50 lks – what would be the annual servicing cost to Zerodha? &
(d) What would be Zerodha’s brokerage for say 1 lakh of buy/sell of MF?
Look forward to your prompt reply as always.
Thanks & Best Regards.
Hi Zerodha Team,
I have a portfolio of around 10L which i am investing on SIP basis from 2010 from an another demat. I believe they are all regular funds. Can i redeem those & freshly invest in direct funds in Zerodha demat. How do you want me to play around with these? And can you just give me a sense how would i get benifitted going forward by investing lumpsum of 10L & SIP continuation & what i had lost every year in terms of upfront & trial fees all these while investing in regular funds.
SIP in SBI Small cap fund is allowed by other paltforms. Are you going to allow it for SIP or it will be accessible in Zerodha only when lumpsum is allowed.
Hey Malaya, we’re working on making SIPs available for this fund.
I invest through Direct plans only with other Financial Institutions.. How Direct plan on COIN differs from Direct plan of others?
Hey Jatin, with Coin, you have the added advantage of having all your investments trackable from one portal (Equity, Debt, MF). More here.
Hi,
I invest Rs. 10 lakhs lumpsum in 2 direct plans of MF through Coin. I will be charged Rs. 600 flat as convenience fees. 1. Right?
2. If i start Rs. 10,000 SIPs into each fund from beginning, will i be charge more than Rs. 600 annually?
3. Can these mutual fund demat holdings be collateral against which i can take trades? Which type of funds allowed as collateral?
4. How much exposure will allowed in intraday?
5. Will they be treated equivalent to Cash in account? Or any other method of valuation?
Hey Ratnesh,
1. You’d be charged Rs. 50 per month and not Rs. 600 at once.
2. If you start a 10k SIP, for the first month, there would be no charge as the investment value would be less than 25k. The subscription would kick in once you transact over 25k (buy only) on the platform. So, in this case, for the first year, you’d be charged Rs. 550 in all.
3., 4., and 5. Mutual fund pledging isn’t available right now, will be available in the futures and details on how the margin amount will be treated will be listed out then.
I am an NRI and would like to invest in Direct MF. How can I go about it via your platform?
Hey Rishabh, currently it’s not possible for NRIs to invest on Coin but we are working on making it possible.
Hi,
I would like to know the charges on buying and selling on mutual funds on coin website .All Charges .
Thank you .
Hey Rajesh, there is no charge for buying funds on Coin. If your total investments are above 25k, you’d be charged Rs. 50 per month for the platform. When you sell a MF holding, DP charges of Rs. 5.5+GST would be applicable.
Hi,
Currently i have mutual funds running and is their any option to transfer to coin.zerodha wihtout distrubing current setup.
Hello,
Currently SEBI has imposed a Cap of Rs50,000 per AMC Per Annam, does investing in mutual funds through Coin one still have to limit its investment value below 50,000 per AMC p.a??
Hey Raman, this limitation is only if you’re no submitting your KYC details. With Zerodha, once you open an account, a full KYC is done and this limit does not apply.
Hi Zerodha Team,
Last march hadbeen added 50K fund in my zerodha account for furture usage
but after approx 10 days returned back to bank account with approx 40rs deduction,Why?
Is it because didn’t use any amount of money for purchase??
You’d have been charged demat AMC on 31st March, Santosh.
AM Looking for some other Mutual fund which didn’t having at Zerodha Coin platform E.G
Motilal oswal Most focused Multicap fund
Kotak select focus fund
SBI Small cap Fund etc…………….
Can explalin why and other alternative to buy it here………………………
Hi Jyoti, two of these 3 funds names have been changed.
1. Motilal Oswal MOSt Focused Multicap 35 Fund is now Motilal Oswal Multicap 35 Fund
2. Kotak Select Focus is now Kotak Standard Multicap Fund
As for the SBI smallcap fund, fresh inflows into this fund have been stopped by the AMC.
Hi,
What is the advantage of buying Direct MFs via Coin rather than buying on the MF website directly?
Thank you.
On Coin, you get the added advantage of having a single portfolio across AMCs and your equity holdings. Tracking all your investments is a breeze. Also, since the MF units are in demat form, they are easy to pledge/unpledge.
hello,
Is there any way to see XIRR, CAGR of my MF SIPs based on their investment dates
thanks
Will have this live soon. Working on this as we speak.
I see XIRR is started showing in MF Coin on expanding.
Can u pls explain how this has been calculated.
On redemption, is the margin immediately given? Or do we have to wait till the actual redemption happens for investing the money elsewhere?
Hi,
I was exploring some Franklin funds and came across following information related to NAV for FRANKLIN INDIA TAXSHIELD – ELSS FUND as per 15th May 2018
Growth 448.88
Dividend 39.91
Direct-Growth 469.56
Direct-Dividend. 42.34
Would like to understand why NAV of Direct fund is more than Non Direct fund.
If this is the case then for on a given date Direct growth fund is appoximately 4.4 % is expensive then regular growth fund per unit.
Than how direct fund are better ??
Regards
Ujjwal
Explained here, Ujjwal.
sbi small cap has re started accepting for short window. Can you please make it available.
Hi Nithin/Vishnu/Zerodha Team,
I am not able to find the below in direct list :
Mirae Asset Emerging Bluechip Fund
Reliance Small Cap Fund
Can someone help me out here ?
Are these still not there with Zerodha ? It will be a big backfoot if the above are absent as both are top rated fund
Regards
Hey Jagan, these funds have stopped accepting fresh investments.
Is it ?
But, I am able to purchase them directly from Reliance Mutual fund website (for the reliance small cap one)
Is there a difference ?
Coin uses the lumpsum mode of investment and they’ve stopped accepting fresh lumpsum orders.
Most MFs have exit load, typically, 1% for exit with in one year. Since at COIN-ZERODHA, you buy units of every SIP installment as if it was a lumpsum purchase, isn’t it going to attract Exit Load on last 12 installments even though SIP was active for more than a year.
The exit load is charged on each date of investment irrespective of whether the amount is invested via lumpsum or SIP across platforms.
Why so ?
This amount is variable and decided by the AMC. The Birla Frontline Equity fund, for example, has 1000 as a minimum.
Under the direct plans, all the equity schemes are having a minimum investment requirement of 5,000 ???
Why all the MFs are still not available? I was searching for Reliance Small Cap Fund (G) and it is not available.
Any ETA on bringing this MF on board?
Hi,
I opened my account with Zerodha for investment in MF via Coin. I have been told in order to invest via coin I need to have Demat account in Kite which makes sense.
Now as per your pricing model we need to pay 300 from AMC of Kite platform and 50 per month for Coin which come to 600 per year ie total 900 INR per year just to invest in MFs.
Regards
Hello,
I am not able to find “Mirae Asset Emerging Bluechip Fund – Direct” fund on Coin.
I saw comments from people on the same blog on march 2017, still this issue is not resolved.
Could you plz Tell me when I can see that fund on Coin??
Hi,
I started SIP last month and first investment amount got debited from my account on 30-03-2018.
For some reason i deleted the SIP, Now i want to restart/continue the SIP.
How to restart?
Regards,
Vishaya
You can simply create a new SIP in the same fund on Coin.
Hi Zerodha team and Nithin,
I am investing through Kuvera in MFs. Kuvera is offering absolutely free direct MF platform along with financial advisory. They have financial goal setting and MF suggestion for free. Since I am using it, I will say, there are no hidden charges whatsoever.
Most importantly, Kuvera is a startup and was started in 2017. It’s just 1 year old and still is offering free platform and financial advice for direct MF. Why is Zerodha, which is fairly big now, isn’t offering free service for direct MF?
You charge for Demat A/C for equity investment, that’s ok. No issues with that. But why are you charging for Direct MF investments. While will I ever pay 600/year charges to Zerodha when I can get it done for free at Kuvera along with, most importantly, free financial planning as well!
To add to that, Kuvera has a good Dashboard display to track all the Direct MF investments in one place with their website as well as a very good Mobile app. It’s of no burden to me to use one app to track my Direct MF investments and other app of let’s say Zerodha, to track my equity, F&o etc.. investments. It’s not at all a burden to use two apps to track their Equity and MF investments.
So please DONT come up with a reason stating that – “You get the facility to see MF as well as Equity investments in one place”. This reason is not enough to choose Zerodha’s Coin over a service like Kuvera which not to forget also advices on financial planning goals and suggest apt. Mutual funds as well.
Yes, a business could offer all those services for free, but then, how does the business make money? Is it sustainable to keep providing a free service with no revenue vertical? Wouldn’t this be an incentive for the service provider to add hidden charges or to raise charges after customer acquisition?
WHERE I CAN GENERATE P&L STATEMENTS FOR ZERODHA COIN MUTUAL FUNDS?
P&L statements aren’t available for Coin at the moment, however, if you’ve invested in ELSS funds, you can download the ELSS statement from the Coin Dashboard. This dashboard also shows you your current total P&L.
can we create a SIP through Zerodha for ELSS
Yes Ramesh. You can easily set up a SIP for an ELSS fund on Coin.
I have some investments in direct funds from other platform. If I invest again in those funds from coin, will it be in same folio or new folio will be allocated?
Hello,
Can I invest in tax saving mutual funds through coin? If so, what are the options available (e.g. ICICI, Axis, etc.)? Thanks.
Yes, you can invest in tax saving mutual funds on Coin. Just search for “ELSS” and find a list of all the tax saving funds available from across AMCs.
At least give the facility to filter down the list of mutual funds based on different criteria. I don’t think it would take a lot of time for your developers enable this facility.
Working on this. 🙂
hi,
I read following comments about Coin on a BIG site, is this true ??
” In zerodha coin platform the SIP option is not like an AMC SIP but more like a purchase executed by Zerodha every 15 or 30 days. This can be a disadvantage where your SIP can get suspended by Mutual Fund House when they stop accepting new subscription but allow the SIP’s registered directly at AMC. So you can be at loss if you loose subscription to a good MF if you were investing through Zerodha! ”
Need clarification from your end.
Hi,
Yes, we do not follow the conventional SIP as mentioned in this post on our support portal. It has its advantages as well as described in the post and most of our clients are able to modify/edit their SIPs in an easy manner. Also, the suspension that happened recently was in Reliance Small Cap Fund, till date only 4 schemes have been temporarily suspended from further investments in past 3 years and all are belonging to the small-cap category. The AMCs decide to suspend such schemes via lumpsum mode because the AUM accumulated would have become more than the optimum AUM and more inflow of money would lead to overvaluation of the shares. But, we are having a discussion with the AMC to revoke the suspension and limit the transaction amount. There are other alternate funds in the small-cap category which are performing in a similar manner to Reliance Small Cap Fund.
When we have already selected a fund then why we go to other fund simply bcoz you guys launched half prepared services? Same thing can happen to any fund and we will be switching between funds just bcoz you guys launched half prepared service?
Hi,
I have a question regarding MF Initial Investment when starting a SIP : Say, I have started a SIP for MF X a year ago on Coin and after a few months decided to stop the SIP. So, I delete the SIP orders for X (NOT pause) but do not redeem the units of X i.e. units are still shown in Coin dashboard.
My question is : What if I start SIP again for the same MF X now, will there be an initial investment required again (generally it’s INR 5000 for most MFs) ?? Could someone please explain in what cases there are mandatory initial investment for SIPs.
Hi,
No, there is no minimum investment required in this case since you have already invested in this fund.
50 rs. every month for one year?
or every month every years?
regard
akshay
Hi team ,
I would like to know if in a current SIP , suppose I do not pay installment at a particular time then what will happen to that mutual fund . Is the total current value of the mutual fund is redeemed automatically or it will be stayed as it is ?
Thanks
Hey Abhishek, if you don’t have sufficient funds on the SIP date, the system will retry placing the order for the next 5 days. If you still don’t transfer funds, the order placement will fail. The same will happen on the next SIP date and so on. Your investments until that time will remain intact.
thanks Matti for help .
Hi,
Currently I have invested in 3 ELSS and 3 Diversified MFs, amounting to around 12000 PM that is 144000 P.A.
This is Regular fund and not direct.
So I should be paying around 1% upfront P.A, Demat charges, the standard taxes as compared to Rs.900 P.A (600 + 300) + the standard taxes in Direct Mutual funds in Zerodha Coin. Am I right?
So now I am planning to shift the same investment to ZerodhaCoin, and Direct Mutual funds.
I went through most of the forum above, but still not clear how beneficiary is shifting from my Regular Mutual funds to Coin from my existing ICICIDirect account.
If you could please elaborate on all the above charges and all the taxes, everything, may be in comparison with other platforms?
This will make it transparent and clear for me as an investor.
Your response on this is highly appreciated.
Regards
Gurumurthy
Hi Gurumurthy,
If you have invested in regular mutual funds,then there are always 2 types of commissions that the distributor will receive from the AMC. Once is called upfront commission and the other is trailing commission. Depending upon the understanding between the AMC and the distributor, the upront and trail commission is fixed (it could be anywhere between 1% – 3% for upfront and 0.5 – 1.5% for trail). Every scheme has an expense ratio (the expenses involved in running the particular scheme) which is reduced from the NAV on a daily basis. If the expense ration is higher for a scheme, then the NAV will be proportionately lesser. When you compare the expense ratio of a direct plan with that of a regular plan, you will observe that the ER(Regular) > ER(Direct), hence the NAVs are more in direct plans which affects your returns over the long run.
When a regular plan distributor receives trail commission on your investments from the AMC, he is basically receiving this amount on a monthly basis depending on the current value of your investments. So, if the current value has increased then his commissions will increase. All this is included in the expense ratio of a regular plan and deducted from the NAV. In a direct plan, the expenses charged to the schemes is only with respect to the AMC and there are no commissions paid out to the distributor. The AMC calculates the upfront and trail commission for each and every instalment in the case of a regular plan, thus the commissions are compounded once your investment has grown.
The amount that we charge that is Rs 59 (inclusive of GST) that too once your overall invested value has crossed Rs 25000 and irrespective of the number of mutual funds in your portfolio. This amount is way too low than what we would have earned if we sold regular plans. We do not charge any upfront commission apart from the coin subscription charges.
Also, maybe you could ask your distributor to share with you the information regarding the commissions that he would have earned through your investments and you would surely understand the stark difference 🙂
Thanks for the detailed explanation Faisal. This helps 🙂
Ohh his name is Nitin right I thought Siddharth, so Nitin please give a justification for the above mentioned cheating you have done to your loyal customers
Hi Siddharth,
I was delighted when i started using Coin, a platform where we can invest in mutual funds. I started investing in Reliance Small Cap fund via monthly SIP of 5,000/- . But today I got a mail saying my SIP will be terminated as Reliance Small Cap fund has stopped new subscriptions
Now my question is why didn’t you guys mention that you pool money from all the investors via SIP or lumpsum and then invest in different AMC’s as lumpsum amount??? Never this was mentioned. Now I’m left with no option coz my exisiting SIP will be stopped and the final date for new subscriptions was 26th March, 2018. And you guys didn’t even intimate us before.
What is the use of me investing in MF’s via so called coin. If any AMC stops new subscriptions you’ll stop my subscription as well saying you invest in AMC’s as lumpsum amount. I’m sad and angry on myself that I trusted you. I’ll stop all my existing SIP’s and invest directly in the AMC itslef. I have referred my relatives and friends also about it.
Hi Nitesh,
We understand your grievance and your agitation but we have mentioned details of our SIP model in this post on our help desk as well. AMCs may temporarily suspend investments via lumpsum mode if the corpus accumulated in the scheme is more than the optimum AUM which was decided by the fund manager. This happens mostly in small cap funds and it becomes difficult for the fund manager to scout for some good stocks to generate consistent and high returns. Till date only 4 open ended funds have announced temporary suspension in their schemes. Some schemes like SBI Bluechip Fund and DSP Blackrock Micro Cap fund have even stopped accepting investments via SIP mode as well since the time they have announced their suspensions. There is no difference in the returns generated if the money gets invested via lumpsum mode. SIP and lumpsum are just modes or mechanisms through which the AMC accepts the amount. It’s just that our SIP model gives you the flexibility in managing your SIP in a better manner. Your current investments in the scheme will not be affected and it will grow as per the change in the NAV of the scheme.
Direct funds under Franklin India AMC not available on Coin. Will it be available soon? Should I wait?
Hey Sharat, we’re in talks with Franklin AMC to make their direct funds available on Coin. Should be done soon.
Sir,
I just want to know regarding expense ratio. As you already said, there are no upfront charges,trailing charges but all other STT and other chargers(except brokerage) are charged at par with equity CNC purchases. Kindly confirm that we need to pay STT and other charges(one time at purchase) along with expense ratio yearly levied by AMC or just 50 rupees?
Hi
I’ve been investing in mutual funds for quite some time through DIRECT MODE only and now I wish to start doing the same through COIN.How can I transfer my existing portfolio which is already in DIRECT MODE to COIN so that i don’t need to visit individual fund houses for any transaction.
Regards
Kanishk
Hello Sir,
How to show MF ELSS Fund from COIN as Income Tax Saving Investment ??
What is Aditya Birla My Universe? Is it a broker or simply a platform to purchase MF/SIP etc.? Do they charge commission on every investment?
My Universe is their mutual fund distribution platform. The funds offered are direct funds where a distributor commission is paid.
Hi,
I have started couple of SIP’s on COIN. I checked in q.zerodha.com, but it currently only shows reports like p&l, etc for equity. When will it show for mutual funds? I want to know things like how much I can redeem in a particular year so as to avoid long term capital gain tax. Will these be available in future?
Dear Sir,
I want to know about investing in COIN, If I started by SIP, do I need to do SIP fix income as started in the first month or can increase accordingly.
Is there any lock-in period, if started in coin. If I am unable to pay, can I stop SIP and take money or can able to keep for long-term?
Please clarify.
Thanks.
Can we pledge mutual funds and use that for F & O margin?
Dear Nitin,
You said that .
After your first 25000 worth of investments on Coin, you will be charged Rs 50/month after that irrespective of if you make any further invest or not until you unsubscribe.
its not clear, say, i am Investing 25 k per month for 60 months, so you will be charging Rs 50 for 59 months ?
or its commission free only for the 1st month for the investment of 25000.
please clarify
I have SIP in Myuniverse. They claim that they don’t charge any commission. I am not sure how can I verify that. If myuniverse is charging commission is it possible to transfer my existing SIP to Zerodha account?
If it’s a direct fund, you’ll see -Direct at the end of the fund name. You are currently investing in regular funds though. You’d have to stop your existing SIPs and start afresh on Coin.
Hi hi have a recently opened demat account in Zerodha in the search of investing in Mutual Fund through SIP, But now i think i have done mistake as suppose i start investing 5000/- in sip, then also i have to pay Rs. 50/- month. Those who invest 25-50k in SIP then its Okay as in that case also they have to pay Rs. 50/- only. Where as even ICICI Direct is also charging Rs. 30/- per month. So i am planning to search for another platform.
Thanks
Hi Nitin,
There is no option in coin to download/export the Mutual Fund holding in .pdf format. It would be great if you could introduce the same in the Coin portal.
Thanks
Shailesh H
Hi,
There is no option in coin to download/export the Mutual Fund holding in .pdf format. It would be great if you could introduce the same in the Coin portal.
Thanks
Shailesh H
I have 6 direct funds – How can “transfer” them to COIN and make future investments from the coin platform?
Dear Nitin,
will there be any transaction charges collected by ZERODHA?
Thank you.
Hey Raja. No transaction charges from our end for mutual fund investments on Coin. 🙂
trying to get intouch with support not being able to get through. Have queries about COIN. can you please arrange for a callback .
Thank You
Hey Rohan, please write to support[at]zerodha.com and someone will get in touch.
any good mf , for new investor mod risk short term
Is it correct that through MF utility (MF online) we can invest in direct plans of the AMC? OR MF utility (MF online) are only offering regular plans?
Thanks….
hello nithin ji.
thanks for this platform. your team doing great job. i read online book in your site. i saw your videos on you tube i like it. i appriciate your startup business.. first time i saw any marathi boy doing this business…
i am new customer..
sir can you tell me which are the best mutual funds for SIP or Lumsome…. equity for 5 year investment plan…can you tell us portfolio for investment..
Hi Nitin,
I was searching for Franklin India Bluechip Fund – Dividend option but cannot find it in coin.zerodha search.
How can i purchase this ?
Regards,
Aditya
Hi Team,
I am having demat account with NJ but the and having 4 SIP along with some SIP and lumpsum investment not in demat form. Will Zerodha be able to help me to transfer MF units in demat as well as in Physical format if I open Demat Accout with Zerodha?
Thanks.
Nowadayas many company like paisa bazar is providing free direct mutual fund investemnt in almost all fund house along with free investemnt assistance, comparing which the charges of zerodha after 25k investemnt i. e. Rs 59 ( including GST) seems to be way too high.
Please reduce the charges otherwise you may loose many valuable customers to this company.
PN: now even i am planning to shift all my direct mutual fund from zerodha to paisa bazar, please let me know the reason why i should stay with zerodha.
Dear Sir,
Please give me one reason not to go with below broker which also provide free direct mutual funds and stay with zerodha , if i have invested lump sum amount of say 50k only ( Zerodha will charge 59 rs / month till i redeem the funds)
CAMS
MFU
Kuvera
Paisabazar
Respective AMCs
Pratik, if a business is offering a service for no cost, it begs the question, how are they making money? Also, if they aren’t, for how long can they offer the service without making any money off you? The primary thing here to take note of is that though a free service is a nice thing to have, will it last?
If that isn’t enough, Coin also allows you to have all your investments in one place, making management a lot easier. That is something that you would lose out on if your investments are spread across different AMCs and you invest directly from the AMC website. If you look at the big picture, you’ll see that the 50 rupee charge on Coin is actually not very significant for you.
please explain Rs.25000/- investment free
&
after that your charges
It’s quite straightforward Mukesh. As long as your total investments on Coin are below 25k, the platform is absolutely free for use. Once your total investments cross 25k, you’ll be charged Rs. 50 per month.
Hi Zerodha Team
I plan to invest in DirectMF & Equity( Long term and not for daily trading ). The
Pl answer the following :
1)Which Zerodhaproduct to be used for Direct MF + equity long term ?
2) Charges for the above on an annualized basis ?
3) Are charges subject to change in future or will remain fixed ?
Regards
Vivek
Why the NAV of same mutual fund is more in direct than regular plan.
That ways, we get lesser unit for the same invested amount in the direct plan, that too every month in SIP + 50/- per month for Coin (considering more than 25k investment), will it still be beneficial than regular plan?
This is answered by Nithin here, Saurabh. It’s always better to invest in the direct plan.
I have opened Zerodha demat account on 9th Jan 2018. My coin ( mutual fund) is still not activated , I do not know why ?
When I click on coin Icon under my user ID in my demat account …it opens in new browser & shows ” Mutual Funds is not enabled on your account. The exchanges may take 24-48 hours from your account opening to activate your Mutual funds account. Please contact Zerodha support for further queries.”
I contacted support team but did not get any feedback they said they will get back to me. I also tried to reach sales team but did not succeed. Can some one from Zerodha resolve this issue ?
My userID is YM1862
Thanks !
Hmmm… Can you check now? Should be activated.
Thanks , it is activated now.
Hello Zerodha, Any update on
1) including franklin Direct Funds to coin.
2) sometimes back i read about new backOffice Q app… when that is going to be available
3) when Kite3 login will be integrated with your other Apps (coin/smallcase/Q). with old KIt app, i was not been asked to re-enter my credentials again for other apps.. it was well SSO managed. Thsi is not the case with after login thru KITE3 URL.
Its disappointing.. there is NO update from zerodha team after many days 🙁
Hey Sharad, happened to miss out responding to a few comments over the weekend. To answer your questions,
1. We’re in talks with Franklin. Since they are their own RTA, the direct funds aren’t available on BSE StAR MF. The backend engine we use for Coin.
2. We’re hoping to launch by the end of this quarter at the latest.
3. Kite 3 right now is a separate app. Once we move it to kite.zerodha.com, which we will do soon, this should be fixed.
Where is IDFC IMPERIAL EQUITY FUND ?
Since 18th April 2017, it’s been called IDFC Focused Equity Fund. Check out this notification by the IDFC AMC.
If i am not investing like as SIP but invest one or two time in a year than can i subscribe coin when i have to invest and unsubscribe when not needed.
The subscription is charged if your total investment is above 25k. So, even if you don’t have an SIP open, if you’re invested, then the subscription is charged.
I had invested in mutual funds in the past through my bank through regular route . Is it possible to transfer those MFs to direct account ( at Zerodha) without actually exiting . I suppose if I exit from bank I will get lower NAV ?
I’m afraid not. The switching mechanism is essentially exiting your investments and investing in direct again.
can we also start SIP of Rs.1000/- through Zerodha coin? and from where will the SIP amount got deducted, from bank a/c or trading a/c?
Yes you can, Rohit. Funds are deducted from the trading account.
Dear Nitin,
Firstly thank you for providing this great platform for MF. I have read through these queries and understood a lot of details. Since I am new to MF, I need your inputs to clarify the below with regards to the coin platform:
Is the Rs 50 fee charged based on the MF holding for the given month? Let me clarify with 2 scenarios :
Case 1: I start investing Rs 2000 per month. Upto 1 year, 24k are invested.
a) During this course, if my MF NAV increases such that though the investment is 24K but the total value is about 25K, will you start charging Rs 50 as soon as the value exceeds 25K?
b) Or will you charge from the 13th month onwards when I actually invest above 25K?
Case 2: Say I invest about 20K and later exit from this MF. After this I start investing again in a new one. Will this reset the 25K counter and start from 0? Or is the Rs 50 charge started as soon as the investment through coin exceeds 25K irrespective of the value?
Your clarification will really help
Hey Harshal.
For case 1, whenever your investment value goes beyond Rs. 25k, the charges kick in. This includes the returns you may make.
For case 2, the cumulative current investment is taken into consideration, so if the total investment was 20k, then goes back to 0, you are only charged once you hit the 25k mark, not after you invest 5k.
Hi Nithin,
Just provide an option of segregating funds under different (editable) headings.
For eg. Wealth Building, Child Education, Retirement Planning, etc.
That way we will be able to manage funds in a better way & according to our goals.
As of now it all appears in a list & it does get confusing if you have a long one, forcing us to refer to our notes just to check which fund is meant for what.
Regards,
Rohit
Hmmm… We’ll try to make this happen soon Rohit. 🙂
Hi Matti,
I have referred my entire family (haven’t got any call back yet)…
& I will be managing all these accounts.. so just imagine my plight once the goal planning kicks in.
Please do give it a serious thought. Awaiting a positive reply 😛
Regards
Hi Nithin ,
Thanks for all explanation . Can you let me know why there is price difference per unit .
For Ex , Take ” L&T Emerging Businesses Fund” MoneyControl , ET money shows as 29.897 per units NAV price .
But on coin its as 30.67 . So with other i get 167 units but with coin its 163 .
Dear Nithin,
I have stated with Zerodha and must compliment you for your business model and the easy to sue software…Trading as been a pleasant experience so far.
I opened new accounts on Zerodha under NRE and NRO but after opening accounts your teams are saying NRIs cannot buy MF on Zerodha. Could you pls clarify why s it so as any NRI cans till buy stocks and Funds thru local NRO accounts
Thanx
Hi I have invested in DSP Blackrock tax saver (ELSS) as lumpsum and Just wanted to know what is the use of Direct savings calculator which is in below (Buy direct Direct SIP) on my portfolio is it just the calculator or any impact on my MF ?
As when i Purchased the MF it didnt ask for duration.
Pawan, this calculator only shows how much you save by investing in the direct fund instead of the regular counterpart.
Hi Nitin,
If we invest in Mutual Fund through non direct fund, will be any charge for that. Kindly confirm.
regards,
Anup
We don’t charge anything for the regular investments, but you do stand to lose due to the distributor comissions.
Dear Nithin Sir / Siva Tati Sir,
Please find the attached screenshot.
I have placed an order for buying mutual funds on 29.12.2017.
Till date the status is shown as sent to AMC
Doesn’t i speaks nice that for a great techno savy broker this delay is totally unjustifiable.
Even I have not recieved any email confirmation nor any contract note which I can show my employer for tax benefits which i can avail.
I request you to personally look into the matter that whatever the confirmation is should be recieved it has to be updated on the same day or atleast next day before the market opens and immediately the contract note is sent to the clients.
I hope this simple timely confirmation wont be much a big issue and it will be implemented on priority in COIN.
else managing SIP / investment on direct websites of AMC is not such a big herculus task as you have projected.
Regards
Bhushan K
Bhushan, depending on the fund, the settlement can take up to 5 days. This is just how the settlement cycle works.
Sir,
But isn’t allotment through regular route happens in less than 2 days. Then there should be atleast one confirmation from coin platform for getting allotment.
Why not built a contract note type of sort for proof submission to the employer for claiming 80C benefits. Hope this is not difficult for you to implement.
Regards
Bhushan K
The settlement cycle is different for Equity/Debt/Liquid funds. Remains the same across direct and regular funds.
Can I link my already existing mutual fund accounts with Zerodha coin?
I’m afraid that’s not possible. You’ll have to convert the MF units to demat and transfer to your Zerodha demat account.
Hi Nithin,
1. If I have a equity trading account as well as demat account with Zerodha, will there be any extra charge for buying MF from different AMC’s?
2. Does Zerodha provide facility to by Direct MF’s or Regular MF’s?
1. If you’re buying from Coin, we don’t charge anything for the first 25k invested. Beyond this, you are charged Rs. 50 per month.
2. Coin is for direct MFs.
What is the difference between a MF being held with AMC vs Demat and also if it’s in Demat I can see my holding on the AMC website , this will help me decide to go ahead quickly and open my account with you guys please
Niraj, there’s no difference at all. If you use the demat mode, you’ll see the units in the demat account with us.
Hi Nithin,
Thanks for the wonderful platform .
Just wanted to know As you are charging very low compared to others in market and no hidden charges as you said. What if one fine day Zerodha shut (Hope it does not happen) its business whom AND how are we supposed to track our investment. Wanted to know as we are investing our hard earned money into it .
Your investments will still remain in your demat account held with CDSL Kaushik. Also, no plans of shutting down. 😉
If I want to make a lumpsum investment of Rs 1 lac in ELSS in the month of December will I still be charged Rs 50/month for the 3 year period?
Yes Varun.
I have been a long term customer of Funds India and about two months old with Zerodha Coin. I switched to Zerodha primarily because of direct MFs and an easy UI. However, I have to admit that transferring money to my trading account every month for SIPs and transferring it back from trading account to my bank is a bit of a trouble. I see that enough has been said about holdings MFs in demat form, it’s advantages and disadvantages.
Anyway, I recently came across Kuvera and they claim that they are 100% free and allows us to invest only in direct MFs. I know it is too good to be true but that’s how they are, completely free. So my question is why should I stay with Zerodha and not move to Kuvera? I will get statements from AMCs with my folio number so I presume my money is safe with them as with any other MF platform.
after clicking DIRECT SIP interface shows “INITIAL INVESTMENT” what is the meaning of initial investment? if my sip initial investment is 5000 & my sip is 1000 so the first time which amount is debited in my account?
Mr Karmakar i have opened my account with zerodha and it has surprisingly mapped uder your partner login you are requested to send your no objection to switch my account to under my own partner account i will be verymuch thankful to you.
actually i have opened a partner account also and i have to map my demat under my own partner account but it requires your permission. otherwise i have to close my account.
Regards
Neeraj
Hi Team,
This week, I opened account with Zerodha.
I have old account with ICICIdirect and Sharekhan. I have invested in Mutual Fund using these 2 accounts (mostly sharekhan). Apart from 1-2 funds, all of them are one time investment.
Can you please let me know if it is good idea to get them moved to Zerodha? and what all will be benefits? I don’t have plan to get them redeemed as of now. I will keep them adding as per my convience.
I have same question for equity shares as well.
Regards,
Sanjay
I want to invest 20,000 in MF for Tax Saving under 80C, Can I invest it through Coin and present proof to IT dept. for Tax savings ? If Coin – Direct mutual funds is eligible for Tax savings under 80C then what is the minimum lock-in period ?
Yes, you can. All ELSS funds have a lock-in of 3 years.
Hii ! Wanted to Know about the redemption process n time take at Coin??
Depending on the fund, redemption is done within 5 working days at most.
If Coin – Direct mutual funds is eligible for Tax savings under 80C then what is the minimum lock-in period ?
I want to invest 20,000 in MF for Tax Saving under 80C, Can I invest it through Coin and present proof to IT dept. for Tax savings ?
Some fund houses like Reliance and DSP offers funds which can be instantly redeemed. If i invest in such funds through coin, can i redeem the units instantly ?
Hi Nitin,
I have been trading with Zerodha since last two months and I am happy with it. I am also buying Direct Mutual Funds using Coin platform and this is really very amazing. My many of the friends have joined after me and they are also happy with it.
If you consider then i have few suggestions regarding Coin platform:
1. Could you please provide bookmark/Favorite or wishlist kind of feature where I can create my own list of Mutual funds which I want to buy in near future.
Here is a good website for reference : https://www.moneyfront.in/mutual-fund/mutual-fund-explorer.aspx
2. Instead of just listing all funds on one page could you please provide sorting and filtering options with various criterias like by AMC, by Fund type etc.. . That will be really very great full to find best mutual funds from thousands of funds.
3. Could you please add NFO ( New fund options ) section as well as include those newly listed funds on page so user can also buy any of them.
If you will consider and implement above suggestions then it will be great help from you for MF buyers.
Thanks & Regards,
Jignesh Raval
[email protected]
Jignesh, already working on 1 & 2. Will have our team look into the possibility of NFOs.
Thank you very much for your quick and positive reply.
Thanks again,
Jignesh Raval
Why Franklin Templeton mutual funds are not available in COIN direct?
As you are aware there are multiple top performing schemes in this fund house. Please add the same.
Hi Nitin request you to please look into it, we are missing some top performing funds.
We’re working with the AMCs and BSE StAR platform to have these funds added.
Dear Nithin,
I am zerodha client since inception with client ID ” RS3429″. At the time of opening my name was misspelled in pan card as Samineni Sreedevi” instead of Sriramaneni Sridevi (ii) As no Zerodha Demat have been continuing IL&FS .
Now I have been corrected my surname and name in both pan as well as Aadhar card .
I would request your team to suggest how to corrected my name in your records as well what documents required to open fresh zerodha account .
For the same query I have visited zerodha begumpet branch in Hyderabad . I have been asked to signature on the trading and demat account forms . I have signed on the same .
There is no change in DOB & PAN number.
Your immediate action in this regards highly appreciated .
Warm regards,
S.Sridevi
Client ID : RS3429
After unsubscribing. What if I have to invest again after 1 year? Will I have to pay the charge for that 1 year?
Isn’t it fraud if you guys smartly increase NAV of each MFs and show on face 0% brokerage value. Your NAVs are manipulated to the core. pls stop all earning by fooling people.
Hi Eva,
You can verify the NAVs of all the schemes which reflect on our platform with the ones that are released by the AMCs or on AMFI website.
I have added equity amount of Rs. 40100 to my account and the next day it was 40089.38.
Where my Rs. 10.62 got deducted?
That would be the payment gateway charge. You’ll see the charge on the payment page on Kite/Pi before making a payment. It’s Rs. 9 + GST per transfer.
I am not able to find DSP BlackRock Micro Cap Fund.
Please let me know in future it will be available or not?
I am not able to find “DSP BlackRock Micro Cap Fund”. Please let me know in future it will be available or not?
Hey Pankaj, this fund has stopped accepting new investments, hence it’s not on the platform.
I want to track how my funds are doing in coin
Is it possible, if not where can I track that.
You can. Just log into Coin and check out the portfolio page.
sir,
I am planning to invest in Mutual fund through Zerodha coin. Can i a make separate portfolio for my family members so that it will be easy for me to manage. Please reply.
Not right now. I’ll pass on your requirement to the dev team and see what we can do.
sir,
I am having 2 mutual funds in SIP mode at Funds India broker. Now i want to transfer both mutual funds (SIP) to Zerodha coin. Please explain the process for transferring. My kite ID is SS1544.
When asking to Funds India customer care they asking me to contact Zerodha to make request to the respective fund. But when myself asking Zerodha customer care they asking me to get the delivery slip from Funds India. What should i do now? Please reply.
Hey Shantakumar, check this post: https://tradingqna.com/t/regular-to-direct-plan-switch/17059/2
I have a question regarding the exit load of SBI Nifty Index Fund – Direct Plan – Growth. In the sbi mutual fund website, it says that there is no exit load for this fund where as in the coin.zerodha it says 0.20% is the exit load. Why the difference. Is it not correctly updated or am i missing something here to understand.
Thanks in advance for clarifying
SBI Mutual Fund has changed the exit load for this fund w.e.f. November 30, 2017. It is now 0.20% will be charged if redeemed within 15 days from the date of allotment. There was no load for this fund earlier. If you’ve invested before 30th November, no exit load is applicable.
Hello Mr. Nitin,
I am new to Zerodha. Needed a few clarity about the platform.
1. When are we coming up with the STP( Systematic Transfer Plan) and SWP ( Withdrawal Plan) facility in Coin.
2.Do we get the T+2 margin for trading in delivery based CNC in case we dont have enough cash available in the account at the time of placing the order.
Pl. do revert.
1. Working on this.
2. Not right now. We’ll be coming up with a margin funding product soon.
When are you planning to offer STP service in coin?
We’re working on the functionality. Can’t give you a concrete timeline at this point though.
Hello, what is the problem with Zerodha fund transfer nowadays?
very often payment get stuck.
Also, you Customer care number is connecting easily…
response on support ticket created has increased.. mostly nowadays it usually took 1 day..
ticket # 979051
is it all due to the increase in your user base. earlier users were less.. and things were more smooth.. 🙁
Today morning i made a transfer from my SBI Saving account via Add funds from your kite page. Amount got successfully debited from my bank but while returning to zerodha i got “Internal server error” please make the funds available in my zerodha kite ASAP. I need to buy some shares.
Going through your ticket, I see there was a network error when getting back to the Zerodha page form your bank page. Transfers are naturally delayed in such cases as we don’t get instant confirmation from the bank.
Sir, Any update on franklin smaller direct fund.
HI
What are the charges of Lumpsum investment of more than 100000.
Thanks
A flat fee of Rs. 50 per month for investments above 25k is all you’ll be charged.
does coin platform offers STP?
Hey Swapnil. Not right now, but we’re working on a solution for this.
hi,
how about investing in mutual funds through coin in lumsum but not by sip is it possible? if possible can somebody explain about the charges and other things?
Hey Harish. Yes, you can make lumpsum investments as well using Coin. Just log on to the platform and place the order. The charges remain the same, i.e., 0 for investments below Rs. 25k and a flat 50 Rs per month if your total investment value is above 25k.
1. will Coin platform also show CAGR ( Xirr) returns ?
2. Is it possible to port the existing portfolios to Coin platform ?
Hi Nithin,
Posting here as I have not received a valid response from Zerodha support on the issue I’m facing regarding COIN.
I had purchased 2 ELSS funds through COIN on 16th of November. This worked fine and I was allotted the units. However after a few days I was surprised to find that COIN had again brought the 2 ELSS funds (duplicated) despite that fact that I had not ordered or made additional purchases on COIN.
When I contacted Zerodha support they told me that there was a technical issue and that I have to transfer the money to cover the duplicated order. Since the order was not raised by me, I should not be unfairly penalized for an order I have even not given.
I have raised 2 Zerodha support ticket on the matter but the issue has not yet been resolved.
I request your urgent attention on the matter and looking forward to a revert at the earliest.
Regards,
Shaad
Is there a space on zerodha where you have mutual fund recommendations?
I’m Investing Rs.2000/- through SIP & paying Rs.50/- month is not a good idea to invest with zerodha. I feel one should directly purchase the Dir MF from respective fund house and add these funds in your moneycontrol app where you can see performance of the fund. I’m totaly disagree for paying rs. 50 every month charges. You can charge Rs. 20 or 50 for one fund once only & charing everymonth is not a good idea to invest through zerodha.
The concept of monthly charges itself is absurd. It is like maintenance fees for holding the account. If a person invests Rs.26000/- only once and stops he will be paying Rs.50/- every month and in 5 years he has paid 3000/-. The charges should be based on each transaction and not on flat rate. As someone has pointed out persons investing huge sums get benefited and small retail investors actually lose more. The principle should be : charge low per transaction fees and it will be proportionate with the volume of investment. Or take one upfront fees, say Rs.1000/- for the currency of the account.
would a SIP be bank debit like when done through AMC or would have tranfer money to ZErodha regularly to keep the investment going !
Dear Nithin Sir and Team,
1st of all I want to congratulate and thank you for giving this platform for trading & investment with lowest brokerage. Even your support team is also very helpful in clearing all the doubts & issues whether it is small or big.
Now you guys have introduce this coin, regarding which I have confusion, can you please explain this,
Lets say, I have 3k SIP per month, so for 12 months it would be 12*3000 = 36000 Total Investment.
1% of 36000 is 360 Rs.
And
If I go by coin, it is 50 Rs per month, i.e., 50*12 = 600.
so how it is affordable in this ???
Thanks
Hy Pratik, the subscription fee is levied only once your total investments exceed 25k. So, in your case, that would be only for the last 4 months of the year, i.e., 200 rupees. Also, this fee is fixed and doesn’t go up as your invested amount and returns increase.
Dear Matti, consider 2nd year onwards or after 25k, your charges are more than 1%. Please dont misguide. if every month or year 25k is free then you can say likewise.
Hello Team Zerodha,
I got the explanation of the benefits of the Direct plans in MF through COIN.
Just 1 Ques – will the fees charged by zerodha can change over the period from Rs. 50/- to Rs. XX/-
Currently its Rs. 50/- what is the assurance that it will not increase and you will not charge for commission in future.
since we will transferring the existing MF to your portal-Coin customer will be again in the same position(like Regular plans holdings) if the fees are increased due to certain reasons or company policy of Zerodha.
Please provide the comments…
Thanks.
Our track record should tell you that is unlikely. 🙂 We started with 20 rupees per trade back in 2010 and have still left that price there. In fact, we’ve also waived off the brokerage on delivery trades. So yeah, no plans of increasing the Coin charges. That said, even if we do, we’ll make sure that the cost is never as much as the commissions for regular plans (a very unlikely scenario though).
Is there any exit load charges from FUND HOUSE or ZERODHA if I exit within a year
I would like to activate COIN Platform for my ZERODHA Account. Can you please tell me procedure for it?
Access to Coin is afforded to all Zerodha demat account holders by default. I see that you, however, have an IL&FS demat account. To get access to Coin, you’ll have to open a Zerodha demat account and map it to your trading account.
Where will I see the exact exit load amount while redeeming the MFs?
I think it should be available before finally confirming the redemption.
Thanks,
Swatantra
Does expense ratio part of 50Rs Subscription Charges or AMC, please
Zerodha takes it. NOthing is going to AMCs.
Hi Nitin,
I’m very happy to join Zerodha. Thanks for giving this nice trading & investment platform in the hands of common Indians. Sometimes I really get surprised by your support team, how they assist on a minor query which even I don’t remember.
Nitin, I have one request to you.
I want to invest in some mutual funds which are not enlisted in Coin. The funds are
1. IDFC Imperial Equity – Direct/Regular- Growth
2. SBI Small & Midcap Fund – Direct/Regular – Growth
3. Sundaram PSU Opportunity – Direct/Regular – Growth
4. Principal Growth Fund – Direct/Regular – GROWTH
Please make them incorporated with our Coin platform ASAP.
what are the charges for buying mutual funds of 50000 thousand in one go.
Hey Mahesh, there are no transaction charges as such. But a subscription fee of Rs 50 will applicable once your total investments cross Rs 25000. YOu can explore more FAQ’s here.
subscription fee of 50 rs is one time or monthly or Acc. to no. of transaction .
Hey Mahesh. It’s a monthly fee once your total investment value goes above 25000.
Hi Nithin,
I am writing to you here as I don’t have a convincing answer from your Call Centre. My Mail to your team too has gone unanswered.
Background:
1. I am currently evaluating Direct MF Service providers (OroWealth, MoneyFront, Coin).
2. I am keen to opt for Coin as I see Zerodha as better/known brand than others.
Help needed is as follows:
1. I wish to open a COIN account and not Trading A/C. Can I do that?
2. Your CC mandates sending of PoA for opening a COIN a/c. Other service providers (sated above) do not. I personally too don’t see a reason for a PoA need to purchase a MF.
3. I have sizeable existing MF spread across my Family members (Wife, Self and Children). Can Coin help me with a Family a/c where I can view my consolidated portfolio, see ST/LT Capital Gain and switch from Regular to Direct?
Look forward to hearing from you.
Thanks,
Regards,
Potential Customer
When are you planning to introduce Mirae Asset Emerging Bluechip Fund – Direct Plan (G) ? I wanted to invest.
Hey Indranil, this fund isn’t enabled on BSE StAR MF yet. We are in touch with the AMC and BSE StAR team to have this enabled ASAP.
Hey Nithin,
Thanks for such a good UI and platform to work upon.
Hi Nitin,
I m very new to the zerodha n I m very exciting to invest in Mutual funds thru coin.but I need some more clarity about Mutual funds for that I was called zerodha customer care,but there are unable to provide sufficient information..
Can u provide required information about Mutual funds n coin..
Sagar, these FAQs should clear most of the doubts you have. if you still have any queries you can post them on Tradingqna. 🙂
Hi,
Normally the cutoff time for subscribing to mutual funds is 3 pm. On coin , even if we do that it is not happening. that can cause and be a point of dispute. How are you addressing that?
best Regards,
Sahil
Sahil, you seem to be confused, The cut off time for order placement is 1.30 PM.
whats the use of this coin platform when its not activated on my account inspite of 1000s of support tickets?
zerodha support team dosent exists.
email marked to higher people like ceo nithin kamath dosent even get answered!
PATHETIC PATHETIC! THIS IS THE ONLY WORD.
CLOSE DOWN COIN PLATFORM IF THIS IS YOUR SERVICE.
Hi Nitin ,
I am an existing customer of zerodha . Can I switch fund in zerodha coin ?
For instance – Currently I am investing in HDFC for 2 years . after 1.5 years of investment in HDFC I want to switch to SBI .
If yes- how ?
Thanks ,
Koushik
An HDFC fund and SBI are fund are totally different, managed by two different AMCs. To switch between the two, you simply need to redeem one and purchase the other.
In the direct funds, the Exit load of 1% will be charged only if I withdraw my fund within 365 days, or it will be charged after that also?
Rajat, that depends on the scheme. You can find this out in the scheme document which can be found on the AMC site.
To improve the user experience I have one suggestion from my current usage of interface. Is it possible to show gain(percentage and figures) per instalment of SIP. Actually I was trying to make a lumsump investment in mutual funds on my parent’s behalf in my demat account but the problem I am facing is how to track that specific amount over period as there is only one portfolio option is there in coin interface. That particular instalment will get mix with other instalments made earlier and I will see the consolidated amount and not the gain particular to this amount. It is very beneficial feature as it will allow user to see the gain percentages over time(considering only single portfolio option is offered by coin)
Anish, will run this by our team.
I have a Demat with NSDL & Mutual fund is enabled only for the clients having a Zerodha CDSL demat account.
In this case, what we have to do, can we convert NSDL to CDSL or we have to open new demat with CDSL
Deepak, you will have to open a new demat account with us. Contact our support desk and they will guide you through the process.
why some debt mutual funds NAV goes down and my investments go in loss when debt mutual funds invest in fix deposits and bonds?
How can fix deposit give you negative returns?
I have some debt mutual funds in losses.
someone please explain.
first of all thanks very much for servises u are providing to all clients hats off. but there r some issues with mutual funds u have not servises of franklin mutual fund so pls do look after it as ..
Ashish, Franklin is not yet ready to offer direct MFs in demat form, we are pushing them to do so. All their funds should be available on Coin soon.
WHAT ABOUT MY TICKET #679989 ?
Kamlesh, will have our team respond to your ticket.
Hi sir,
I had taken mutual fund quite long ago and now i want to bring that mutual fund to zerodha demat account. How to do that? Kindly guide.
Second in all discussion topic in zerodha kindly add top and bottom icon as scrolling down from top to bottom is quite irritating. Please do that as earliest possible. Thanks
1) Check this post.
2) Will check with our devs. 🙂
Dear All,
All of you had invested in mutual funds, you know the buy price NAV, the sell price NAV, the returns, etc….In order to know how much commission is paid to your broker, upfront commission and trail commission, you would need to login to NSDL and get your consolidated e-CAS statement. All details are mentioned there clearly and it is for each month. I just happened to look at it, and My God, I am dumbstruck. I have an account with icicidirect, these f***ers never give you any good advice or recommendations as such, they also charge ridiculously very high charges. Although my Mutual Fund investment is not heavy, I used to invest few thousands in ELSS funds and man, this icicidirect sh*t has been getting upfront and trail commissions for all these years, which I feel is not worthy of it at all. What an idiot I have been to have chosen icicidirect….
Sir,
I have D’mat account with Zerodha.I want to invest my partial fund in MF.Being a retired person,I want to know as below.
(1) Can I invest lump sum amount of say 4/5 lakhs at a time and opt for reverse SIP of say 5000/- per month in my bank account directly for my penny expenditure ?
(2) Can I add lump sum amount at any time from a MF where my reverse SIP is operative ?
Kindly inform me so as I can divert FD’s amount in MFs.
Hi,
1) There is no such reverse SIP. If you redeem any units, the amount will always be credited to your trading account.
2) Can you please elaborate this query ?
Hello Nithin,
I am in process of opening NRI account with zerodha and currently trading through ICICIBANK. can you share a tentative time frame of when ICICI will be supported by zerodha. I am happy to wait 2-3 months instead of starting a fresh process with a new bank, it is a bit difficult specially when you are not physically present in India.
Other option that I could consider is Kotak where I have NRE account. appreciate your feedback. thank you.
how do we pay for the shares that we buy through zerodha demat account ??
do we pay everytime from our bank account or there is a facility to transfer any amount initially and use it thereon ??
how do I take back my profit to my bank account ?? are there any charges involved in transfer of funds from bank to zerodha or zerodha to bank ??
@nithin kamath pls reply
Your trading account will be linked to your bank account. So if you wish to buy/sell securities you will have to transfer funds from your bank account to your trading account. You can withdraw funds to your bank account anytime you choose to.
If have an account in any of these banks, you can transfer funds to your trading account instantly and you will be charged Rs 9+taxes per transfer. Alternatively, you can transfer funds using IMPS, NEFT/RTGS.
Dear Mr Nitin,
I have just started investing through Coin and I find the below issues are not helping us to invest with comfort
1) Monthly Charges for Coin is being debited without any advance intimation by SMS / Email. This is a small amt of Rs 59/ mth inclusive of GST, but at times when we are trading in equity/ intraday on the rock bottom edge of our funds it creates a problem. Advance intimation for COIN monthly debit charges will help us prepare better.
2) Mutual funds cannot be adjusted in the sequence that we like in the Portfolio.
For example large caps MF together , diversified together or any other suitable sequence.
Since there are large number of MF and names are also alike , we find it hard to know at a glance, the type of fund
3) Similar issue in SIP & Conditional , we are not able to adjust MF`s sequentially to our liking,
4) No option for creating watch list for MF that we would like to invest in the future
5) Options of investing through android app which is merged with KITE – I am sure you must be working on it
6) In android KITE app , for investing in MF, we have to login again via chrome or any browser, Can`t we have a similar scheme like desktop , where in, if you login with KITE, you can straight away open COIN with chrome in android
Awaiting , for suitable solutions from you
Hey Venkatesh, 1) Since you already are aware of the subscription fee being debited it would be prudent to plan your margin requirements accordingly. But having said that will see if we can set up an alert.
2) We are exploring on providing users with more flexibility.
3) On our list of things to do.
4) Will have our team look into this.
5) We are exploring this.
6) Will have our team check this.
In coin – portfolio is simple. we can’t compare funds in our portfolio, lacking charts and diagrams etc. Please update.
I want to buy mirae assets emerging bluechip fund direct but is not listed in direct mutual fund in coin website?
Sir,
Why mirae assets emerging bluechip fund direct is not listed in direct mutual fund in coin website?
The fund you’re referring to isn’t empanelled on the BSE StaR MF platform for the direct plan yet. That said, we are in talks with the AMCs and BSE StaR to have these funds added.
1.i want to open coin.zerodha for MF…do i need to open kite or other trading account too?
or coin is opened only after kite account is opened??
2.how do i SWP in coin?
Afroz, once you open an equity account, you will be able to invest in direct mutual funds as well.
2) SWP isn’t currently available on Coin it but we are working on it.
Why does other apps like Coin, SmallCase ask for permission like –
◦ Access holdings and positions portfolio
◦ View your account balance and margins
◦ Place, modify, and cancel orders
If I were to invest on MF via Coin, why on the earth I should grant these privileges. So about SmallCase. I am a tech guy and find this stupid. At most you could check the cash balance, but that too is not needed.
I sent an email to my Zerodha executive last week. But no response.
Hi Nithin,
If i take a mutual fund with a SIP for 5000/month. Then can i invest more (Apart from 5000) in the same mutual fund whenever i have money. Also is there any option option of partial withdrawal option.
Regards,
Thomas
Thomas, you can make fresh lumpsum investments any time you wish to by clicking on “Buy Direct” on the fund page.
You can redeem the number of units you want.
hello
1)I am holding cash in the account for margin requirements for trading in equity and currency. can i move cash to a liquid MF DIRECT OR REGULAR and use that as margin cash? If not please let me know where I can park the cash which also can be used for satisfying margin req. ( confused with liquid bees)
2)what are liquid BEES. how do we get interest on it. how can we sell fractions of units,
I have seen that value of Liquid bees remains the same all the time, so how does one earn a return?
if i sell before 30 days then WHAT. ………very confusing
MF liquid funds are better they say get instant redemption.
so why cant we get margin……..
Hi Nithin,
i think munish is write, we should have margin for liquid funds. SEBI has approved 95% instant redemption in liquid funds in april 17. we should have option of redemption in one click.
MUNISH SAY NO to liquid BEES. it BITES 30% dividend distribution tax is deducted .
hope we will get liquid fund margin as Diwali gift
Manish, yes you can park your funds in Liquidbees and use it for margin requirements since Liquidbees are considered cash equivalent.
2) To know more about Liquidbees check this post.
3) You cannot pledge mutual funds yet. Liquidebess is an ETF and if you redeem it you will get the dividends for the number of days held in form of units.
If we talk about Regular plan vs Direct plan of L&T Emerging business fund the NVAs are 23.18 and 23.78 respectively.
The difference between them is 0.6 which is almost 2.6% of Nav (0.6/23.18*100). ie for the Direct plan you have to pay 2.6% more than Regular plan all the time then How the Direct plan by Zerodha Coin is better than Regular plan??
Plz clear my doubt?
Hi Nithin,
On “https://coin.zerodha.com/funds/14058165.00206600/kotak-select-focus-fund-direct-plan” the exit load is written as 1% but AMC says that exit load of 1% applies only on redemption/switch out within 1 year from the date of allotment of the units. Which one is correct?
Nishith, on the Coin fund page we just mention the percentage. To check out the qualification of the exit load, you can check out the scheme factsheet.
Hi,
I wanted to invest in a New Fund Offer(NFO) by DSP Blackrock. Kindly tell me how can I do it?
Himanshu, not possible to apply for NFOs through Coin currently. You can invest in the fund once the offer closes and an ISIN has been allotted.
Hello,
I have been investing in Coin zerodha for last 4-5 months. I asked the same question that time as well about the introduction of ” mirae asset emerging bluechip fund” in Coin. Is it possible in coming days?
Thanks and cheers to the team
Hey Govil. A few funds, like the one you’ve mentioned, aren’t enabled on the BSE StaR MF platform (the back-end Coin uses for sending the orders to the AMC) yet. Yes, these funds should be available in coming days on Coin though.
Hi Nithin,
coin is very good platform for Direct MF, please keep it up.
i have two question:
1. why not you enable Bio metric figure scan for password in your trading mobile APP like banks like ICICI has for it mobile banking APP.
2. i have one direct MF running with ICICI pru and want to bring in coin to consolidate all MF plans at one place. Is it possible.
Regards,
Rakesh Sharma
Hey Rakesh.
1. Bio-metric 2FA is something we’ve considered, but the regulation around this isn’t clear. Still awaiting clarity on the matter from the exchanges.
2. Yes. You can transfer your investments to Coin. Check this post.
I am happy to use/switch to Coin for investing in Mutual Funds. But what i found, All Mutual Funds/Houses are not yet empaneled to Zerodha. What i suggest, At-least offer all regular plans apart from direct plans. User will at least have regular option for investing, while remaining funds/houses move to direct options on coin.
Mukund, funds from 31+ AMCs are already present on Coin, Franklin is not yet ready to offer MFs in demat form but should be empanelled by the end of the month. You can check out the regular funds on Coin here.
Yeah, some direct funds are still not live on the BSE StaR MF platform (the backend we use for execution). We do still allow investments in regular funds from here: https://coin.zerodha.com/funds/non-direct
Please clarify my query –
I have started investing via COIN in direct mutual funds. After 25k investment if zerodha charges 50 rs per month which will be 600 rs in a year.
If i invest 5000 per month which comes around 60,000 in a year and the charges will be 1% up on my investment(which will be 600rs).
if regular expenses ratio is 2.52% and direct expense ratio is 1.27% + my charges by zerodha(1%) which would come around 2.27%. Am really surprised to know where am getting benefited via direct MF’s
Sudheer, expense ratio is charged end of everyday on the NAV. So end of 3 months, you would pay 1.3% annualized extra per day on this 15k. End of 1 year, 1.3% on 60k and so on. Check the calculator we have put up here: https://coin.zerodha.com/funds/14052526.00206600/blackrock-saver-fund
I am a current customer of coin and have successfully invested in direct plans but still there is no sign of Mirae emerging asset bluechip fund, I am eagerly waiting for this fund to come up. Is there any approx timeframe?
Mirae has stopped accepting inflows into this particular fund. Check this
This is really a good move Nithin. I did not know about this loophole, I appreciate your efforts.
How bank account can be linked with coin, so as SIP amount would be auto debited from bank accounts.
When( monthly/yearly) and how ( auto debited from account or some other way) this Rs50 of direct plan will get deducted.
Rohit, currently all funds get debited from your trading account. Check this answer on how you can set standing instructions.
Hi Nithin,
If i buy direct plan from AMC itself instead of coin Platform I can save the 50/month charge right? Can you clear this?
Yeah you can buy at AMC. But it is extremely inconvenient to track your entire portfolio in one place.
Hi
Understood 25 k concept.
If i start sip and after few years stop them for some reasons, and lets say the invested amount overall is 1 lakh and the market value be whatever. Lets say i stop sip in Jul 2019 till Jul 2020. Will i be charged 50 per month in the duration from jul 19 to jul 20?(for the duration when i am investing over 25k is understood)
Regards satwinder
Yes you will get charged as long as you have investments on coin worth more than 25k.
Hi,
I have started 2 SIPs.
I want to change the date of the next SIP installment.
Is there a way to do this ?
Thanks,
Debanjan
You can only change the dates if its a monthly SIP. But, there are only 5 options from which you can select a date. If its a weekly you cannot modify yhe date.
Hi, I purchased the MFs and received some dividend amount. As per email communication from MF house, i should either get it deposited in my account or i should receive a check for same whatever was selected during purchase. Since i purchased it using Coin platform, can you please let me know how and when will i receive my Dividend ?
Thanks
Ankit
@Nithin
1. Please consider the following issues for Kite mobile application.
(a) Option chain for equity derivatives. It is extremely cumbersome to load different strike price CE and PE to
identify which to buy / sell.
(b) Having different columns in the market watch like volume , 52 week high low etc without having to look at the charts.
Regards
Nachiket
Hey,
A small feedback.
Can you also display whether the mutual fund is debt/ equity?
It would be good if you could display it in the fund page and also in our dashboard.
This would help us know the classification of the MF (hence, tax related costs upfront). We currently google whether the MF is Debt or Equity.
Hope it makes sense.
It already shows the type of funds on the funds page:
Hi,
I have set up a weekly SIP on Coin.
Could you please let me know which day of the week OR dates of the month the SIP will be executed ?
Thanks,
Debanjan
Hi Debanjan,
As per the SIP instruction that you have created, the installments will be placed on every Tuesday. You can also check the NEXT INSTALLMENT column in the SIP/Conditional window in your dashboard to verify the next installment date.
Hello….
I have more than 50k in coin. But when i go to account from the top-right corner, it shows Rs.0.00 worth transactions in direct mutual funds. Why is it so?
Thanks
Hi Rakesh,
Your investments have been done via the balance app. Balance invests your money in regular mutual funds.
OMG!!! I really didn’t know this…..So, does this mean i am paying an upfront commission and a trial commission as well on my ICICI prudential money market fund? I never knew this.
Hi ,
Can we earn by reffer to coin Zerodha as well ? Like we use to earn by referring to Trading Zerodha.
Thanks
Not for coin currently.
Hi,
In case of SIPs, how is this advantageous over Directly purchasing MFs online and linking them with an existing Demat account (ICICI offers Demat accounts for free with Salary accounts) ?
The only thing I see is that you have to send multiple forms to MFs for opening SIPs.
Moreover, why not just create a single account on MFU and link to the already possessed demat account?
Dhruv, the user experience on MFU vs that on Coin is not really a comparison.
Dhruv, even in case of SIP, the expense ratio on regular funds adds up significantly over time. Rs 5000 in SIP over 25 years, if market returned 15% annually, your savings by investing in direct will be Rs 30lks. So it will be Rs 30lks extra you can earn.
Hi Nithin,
I am using zerotha from last 3 months for trading shares and now i also started investing MF Direct plans. I just wanted to know that mf units are allotted in 3 decimal digits and stored in my demat a/c but i heard about demat a/c from which you can sell the mf units in whole numbers only thats mean if i have 100.567 mf units then i can only sale 100 units from my demat a/c and left .567 mf units not able to sale?
Can you please clarify on this point.
Hi Atul,
You can sell the units from COIN (which are held in your demat account) even if these are having a decimal value. Only ETFs are credited and debited in whole numbers.
Thanks Faisal for your prompt reply.
I have sold my all MF holdings on 30th Aug and on 5th Sep Zerodha had deducted Rs 59/- charges again.
When I raised ticked I received response
“We request you to kindly click on Dashboard >> Account >> Unsubscribe.
After this the coin subscription charges will not be levied.”
This means what charges you have deducted for this month unnecessary won’t be reversed.
I am not able to find the link. Where your support guy is expecting me to click.. on your KITE.. Coin or backoffice… he/she must be precise.
This sounds very stupid and ridiculous that even though Person does not have any holdings of MF, you are expecting to unsubscribe.
You have an intelligent system which deducts coins charges as soon as limit crossed 50k… But you didn’t have smart system in place which also understood that Person is no more having a single rupee of MF holding/Investment and it should discontinue the deductions.
Sharad, when a person exits his holdings, there is no way for us to know if he will buy back or stop using Coin. Hence we let the client decide. I will get someone to share you a screenshot on how to unsubscribe on tradingqna.
every month before deducting,
if MF holding balance < 25k, dont charge
else charge.
incase person rebought and make his invested more than 25k u have all rights to charge 50rs again…
its as simple as this algorithm
Sharad, Coin is free only for the first 25k, not after that. So the logic of saying <25k doesn't work.
Ohh.. does that mean… once invested crossed 25k.. charges apply..
doesnt matter even if later current holding value is becomes less than 25k..
it seems more like *Terms & Conditions apply 🙂
Hi,
When can we except SWP in coin?
Thanks,
Jerom Dias
Also let me know if today i am having say 1000 units of XYZ mutual fund and it current NAV is 100 and i decide to redeem all. Will i get 100000 – 5.5(DP Charges) in complete or will there be some other charges as well??
considering the exit load as nil.
Only 1lk-5.5, No other charges.
Thanks Nitin for your prompt reply.
I have some suggestions for your web based kite platform which are troubling me a lot when it comes to access it from both desktop and from my cell( most of the time I access it through chrome on my one plus 3 T android cell as i am a purchase engineer doing full time job). these are very obvious and useful suggestion(i guess) and will help others too.And I don’t think it should be a problem implementing these.
1-Buy sell and market depth in web based chart pop out. (Detailed suggestion mentioned in the picture in the link https://drive.google.com/open?id=0BzRWSQsxcYYcb0Q5Yy05LWNEcUU )
2-Buy sell and market depth in web based – Android (Detailed suggestion mentioned in the picture in the link https://drive.google.com/open?id=0BzRWSQsxcYYcNU0wVWZYc3hKREk )
3-Movable and resizable buy or sell window.(Detailed suggestion mentioned in the picture in the link https://drive.google.com/open?id=0BzRWSQsxcYYcMnBxWU5lRG5YYjA )
Copy paste link in address bar of browser to see the picture.
I dont think I have invested this much of time and effort to address any issue even in my engineering studies 😛
So I think I will get some appreciation in the form of implementing these feature which will help traders like us to trade on the go more effectively.
waiting to hear from you with time frame…..
thanks….
Hey Suraj, thanks for this. Some of these are already on our list to do. There is a Kite 3.0 that will be out in the next couple of weeks.
yeahh!! will wait and see the features.
hiii Team Zerodha,
Great work….keep it on!!
Just wanted to know if we are planning to come up with COIN app just like kite!! it would be awesome…..
Yep, on its way.
Hi,
Can I use COIN to track my existing folio which is under different distributor?
Ah no Anirban. We have plans to include this though.
Hi Nithin,
Is there a plan to create mobile app for coin? If yes, by when?
Regards,
Anish
Yes, we are working on it, hopefully in the next 4 to 8 weeks.
For mutual fund account every where you are promoting it as 50/month but after coming here i can see that 300Rs needs to be paid every year apart from per month charges…
So overall i will end up paying 900Rs… 300Rs are for trading which i won’t ever use only….
#Paid300RsConsideringOneTimeCharge #ShouldHaveGoneForScripBox
#SayNoToZerodhaMutualFund #Wasted300Rs
Prateek, the first 25000 has no cost to it. The savings you make investing direct vs regular on scripbox is quite a bit. Check this. A 5k SIP can save you over 20lks in 15 to 20 years.
Hi Nithin,
I’m a customer of zerodha.Basically invested in individual stock.Want to shift my 15-20 k sip to zerodha.
And 8lakh lumpsum(all r in regular including equity,debt).So if I all shift here how much I benefited..?
another point is security, after invested for this platform for a very long term (25 to 30y), what r the prove i additionally have except zerodha’s statement..?Do i regularly receive mail or letter via cdsl and from the fund house.
Thanks in Advance
————————-
sourav
All your funds will sit in your demat with CDSL. So no matter what happens to Zerodha, you will have that in your CDSL account always. :). Savings, can be quite huge by switching to direct. Check this.
Hi all,
I think the fees is not justified. Not that this is the only platform to invest in direct scheme of funds. You can do it through the website of different fund houses. The only advantage you get is everything is under one umbrella. But this facility – being able to invest in different fund houses under one umbrella – is also available on MFU website and Unovest. There are other sites as well like Bharosaclub but the charges are higher than what Zerodha is asking for.
Thanks,
Kaushik
Hi,
How can I set up an SWP on a mutual fund which I have in my portfolio at Coin Zerodha?
Thanks
Ah automated not possible, you will need to redeem and invest.
Can we invest in direct mutual fund through Zerodha without opening demat account with Zerodha?
No
Any idea for cryptocurrency investment through zerodha?
Until regulations around it are clear, not possible.
Dear Nithin
Today , one can see all the direct plans purchased from various amc at cams. this is barring few funds like franklin , bnp , sundaram etc .
Also , all action in terms of adding , stopping & switching can be done through Cams
Hi Nitin,
While the MF units will be credited to the demat account, what will be the process to redeem, Do one need to sign a DIS and send it to Zerodha or we need to sign a POA with Zerodha. Secondly there will also be transaction charges for debiting the demat account, so if we add up all the demat transaction charges / AMC, NEFT charges, and subscription fees, i don’t think there would be much benefit for small investor for e.g. having an SIP of 3-5K per month.
The POA on demat will do. I am guessing you will be redeeming only once in a while, and the DP charges on that is just Rs 5.5.
Hello,
Is there a place where I can get latest updates on Coin? Like if a new fund gets listed or a new feature gets introduced.
Thanks
Ah, we don’t have a change log on this yet. Will put it on my list to do.
How to get detailed P& L ledger(with selling price) for coin transactions.
Hi Rina,
Our team is working on providing a P&L feature for mutual funds similar to the one for equity and F&O which is available in the Q backoffice. In the meanwhile, you can click on this option ‘ Export to CSV ‘ in the Order History tab and download your order history from COIN and check the P&L manually for each scheme.
Let me ask a direct but a very pertinent question : Why should one use Coin, when MF Utitlities offers direct plan investments for free?
Check this.
Dear Nitin, I already have Zerodha acount for equity investment in my name.
Very happy to see single platform for MF investment in direct mode.
But for Mutual Fund currently I invest in my minor daughter name in non demat mode.
Is there any facility in Zerodha where i can invest in Minor name me as a guardian. She has bank acount in her name. I am interested in non demt mode as demat is bit more complicated and costly (maybe).
Thanks & Regards
Mukesh Singhal
Hi,
All investments through COIN will be held in demat mode. If you wish to open minor account only for investing in mutual funds then please drop me a mail on [email protected]
Hi,
I am not able to search and buy the daily dividend Liquid Mutual Funds in Coin. Any update when this will be available?
Thanks,
Kumar
Hi Kumar, the daily dividend schemes are available only for the dividend reinvestment option. We only have dividend payout option on the platform.
Can we pledhe the mutual fund and use the margin for trading in equity F&O
Not currently, but on our list of things.
Is it possible to create multiple portfolios (say for each goal) in Coin?
Dear Nithin Sir,
At present in Coin how much is the time taken for the units to be credited or shown in the demat of the user.
I have sent a purchase order through SIP on 17.08.2017. I understand being a holiday for settlement the transaction would be effective on 18.08.2017. However till this moment on 19.08.2017 the status of the order is shown as “Order sent to AMC”. Actually by end of the day generally the units should show up in the demat of the user.
Please clarify.
secondly can we have something on Coin like the sorted funds direct – growth / dividend by way of returns on past 1 or 3 year. or else on % return since inception.
At present there is no such mechanism and we do not have the option to compare performances of more than 2 MF on coin. Please consider.
Regards
Bhushan K
Hi Bhushan,
About order sent to AMC, can you email [email protected] with your client ID. All SIP orders are sent the next working day ideally.
Yes, we are building a mutual fund screener on coin. Hopefully soon.
A suggestion for for Fund list page.
1. Pls add the capability like filter or Tagging. This will help user to narrow down the list based on interest. This will surely increase the user experience.
===========
2. Also, validate the request – if you can display the MF list in GRID/Table with few more column additions which display its 1/3/6 month + 1/3/5/10 years XIRR returns.
surprised to see.. even after 4 days.. no one had acknowledged the post from zerodha team.. 🙁
Missed reading this post Sharad. Will pass on your feedback to the Coin developers.
Hi Zerodha,
Sorry for posting multiples. Just got this in my mind. I read a post about setting up NEFT standing instruction from my bank to Zerodha. My bank unfortunately doesn’t have that feature. However, my question is — Can I still transfer manually to Zerodha’s account using NEFT instead of using the Fund transfer payment gateway?
The reason being, the cost of NEFT transaction at my bank is cheaper than Zerodha’s payment gateway charges.
Thanks
Yes, you can, but the credit is not instant. You’ll find the account details to transfer using NEFT here: https://zerodha.com/fund-transfer
Hey Nithin,
I understand that you guys have been working hard to gets things up asap. However, we have been hearing this for quite some time. Any idea on the timeline on these direct funds like Franklin to be on boarded?
Thanks
Hi,
I already have a Demat account with ICICI & BOB .
Can i use the Same Demat account here & use your coin Platform for Direct MF investments , or i need to mandatorily open another demat with you as well ?
Awaiting a quick response.
To get access to the Coin platform, you’ll have to have a Zerodha demat account.
Dear Nithin,
If I start a SIP @ Rs.5000 and continued it for 10 years. Then what will be the charges..?? (10 years=120 months. So 5000*5months=25,000. Now free threshold limit is surpassed. so remaining months are 120-5=115 months. so coin charges will be 115*50=5750/- right..!!) what may be the charges if I take this SIP through distributor..?
Right , plus the Demat AMC @ 300/- year , plus GST applicable on it .
No charges if taken through a distributor but hidden Brokerage & Commissions paid out by the co. to the distributor which may amount from 0.5% to 2% or even more for some of the plans .
Regards.
It would depend on a lot of factors, but considering the MF to make a 12% annual return, your savings would be Rs.1,09,540
SIR,
I AM UNABLE TO KNOW WHAT IS CUTOFF TIME BECAUSE WHEN I GAVE BUY ORDER FOR MUTUAL FUND ( MINIMUM INVESTMENT OF RS 1000/- ONLY, NAV VALUE 57.4006) THROUGH COIN ZERODHA THERE IS A MESSAGE FROM BIRLA SUN LIFE THAT YOUR ACCOUNT MUST HAVE ABOVE 200000. PLEASE SIR CAN YOU ELABORATE
1. WHY THIS KIND OF MESSAGE GIVEN BUY THEM ?
2. MY INVESTMENT OF RS 1000/- ( THIS IS BUY ORDER NOT SIP) AT THAT TIME NAV WAS 57.4006 AND UNITS AVAILABLE WAS 1000/57.4006=17
3. THEN WHY IT REQUIRES ABOVE 200000 IN ACCOUNT
4.THAT MEANS THOSE WHO HAVE LESS AMOUNT THEY NEVER INVEST IN MUTUAL FUND?
Each fund will have a minimum investment flag, so if there’s a fund where the minimum investment is Rs.2,00,000, you can’t invest less than that. The minimum investment in each fund is shown on the coin platform, I’ve highlighted here for you:
THANK YOU SIR FOR YOUR VALUABLE REPLY BUT HERE THE MINIMUM INVESTMENT IS RS 5000/- AS HIGHLIGHTED BY YOU SIMILAR CASE WHEN I WAS TRYING TO INVEST IN BIRLA SUN LIFE TOP 100 FUND DIRECT (G) ON YESTERDAY THE MINIMUM AMOUNT WAS RS 1000/- BUT WHEN I GAVE BUY ORDER AT 3:15 PM IT SHOWS MINIMUM 2LAKH+ AMOUNT
SHOULD BE IN YOUR ACCOUNT WHY? AS I RESEARCHED ABOUT IT GET TO KNOW CUTOFF TIME BUT UNABLE TO UNDERSTAND. SO CAN YOU PLEASE DEFINE THIS AND AS PER YOUR EXAMPLE I HAVE TO PAY ONLY RS 5000 IN BUY MODE AND IF I INVEST IN SIP MODE RS 1000 FOR 5 INSTALLMENTS i.e, MONTHLY INTERVAL.
I’m not sure if you’re doing it right, I’m trying to place the order and it’s getting placed. Can you share a screenshot on [email protected] for us to check?
Great job Nitin and team! Sorry I was an NRI when I faced some issues about 2 yrs ago. But good response still. Thanks!
Hi,
Is it possible to strat an SIP on ETFs ?
Thanks,
Debanjan Chatterjee
No, you can start the SIP only on Mutual funds now.
thanks for your response!
do you have any plans to enable SIP on ETFs, anytime soon (maybe, over the next few months) ?
thanks,
Debanjan Chatterjee
Dear Nithin,
Thanks to make such a wonderful platform. I have huge respect for you and the efforts that you have put forward to make the Indian investor educated.
For everyone who is thinking of 50/- as commission, let me tell few simple thing:
1. It is the most modest and competitive fee on MFs.
2. Team Zerodha has made such an awesome platform for investors to invest quickly. No phone calls, No conveyance and No headaches.
The platform is technically sound and you get to see MF details, whereas most Indian distributors hide many things to get their commissions sky-rocketed, which new investors realise after 1 year.
3. Cumulative 25000, so if you do SIP of 500, you get 50 months free charge.
4. People tend to invest more into MF based on risk-meter and keeping tax-benefits on the long term. Assuming you invest 1,50,000 in an year.
You will be paying more than 2250 to your distributor plus trail commission because MF’s are meant to carry for atleast more than 1 year. Though you can exit early.
So instead you pay 50*12=600 to Zerodha AND no trail commissions and you get the peace of mind to check everything at a click. So you saved paying near 3.5 times less.
I am a proud investor using Zerodha and I am deligthed to see the super Ninja work it is doing.
Best Regards,
Aakash Sharma
Hi,
Will Franklin Templeton AMC’s Direct plans be onbaoarded on Coin any time soon?
Thanks
We are waiting for FT to introduce direct in demat form on the exchange platform.
Hi Nitin,
Though I understand the advantages with direct MF, the charge of 50 Rs per month makes me a little uncomfortable. In regular MF investing, all charges are debited from the invested amount itself, and when I sell, my profit is the difference between selling and buying prices. If I understand correctly, the 50 Rs flat amount is debited from the amount kept in zerodha for trading purpose, which is in addition to the amount invested in direct MF. So while selling the direct MF after a period of time, it is difficult to calculate the profit/loss directly. Also it makes the calculation of profit/loss from share trade difficult, as amount is getting debited monthly from the amount meant for share trading. Is there any solution to this?
thanks,
sandeep
yeah, in direct you will know the exact charge you would have paid commissions to buy MF. IN regular, you will never get to know. Adding this charge for calculating overall P&L is a very simple math. So if you have Rs 1lk in capital gains after 3 years, you will have Rs 1800 as coin charges.
Hi,
I am unable to find “Birla Sun Life MIP II – Wealth 25 Plan – Growth” under direct mutual fund, where as it is listed under Regular category. Could you please take a look and let me know.
Thanks in advance.
Please click on this link to invest in the fund.
Dear Sir,
Please let me know which liquid mutual funds can be redeemed during market time so that we can buy stocks against its proceeds.
Suppose I am holding Reliance money manager fund worth Rs.3,00,000/- and I want to buy a small case which is costing Rs.2,50,000/- . Can I do this by redeeming Reliance money manager fund & investing immediately in small case?
In simple words , whether we receive money immediately into our trading account if we redeem liquid fund.
Ah in such a case it is best to buy liquidbees, liquid fund ETFs that trade on the exchange. You can sell and invest immediately into stocks or smallcase.
Two queries:
1. Mirae Emerging BlueChip is available for SIP only investments but is not in the list of funds available for SIP.
2. Please enable STP/SWP options for mutual funds.
1. Yes, they still don’t offer direct in demat form.
2. Yep on our list.
Hi Nithin
When will NRI be able to use COIN .
do you have any time frame to get it done?
Dear Representative,
I am an NRI living in Bahrain and have a demat and trading A/C with ICICI Direct. I also have some MFs with ICICI Bank under regular plans which are not in demat form but under folio numbers.
What I wanted answer was for the following:-
1. Can I have another trading & demat account with Zeroadha? If not is there a way of shifting my present portfolio to Zeroadha?
2. With regard to my NRI status, am I allowed to use Zeroadha, Coil etc etc?
3. Can I ask the AMCs to shift MF units to a new A/C that I open with Coin-Zeroadha. I have almost 10lacs worth of MFs between direct plans with AMCs and regular plan with ICICI Wealth Account?
4. As I have 2 different types of A/C called PINS and Non-PINS for IPOs and Equity as per RBI guidelines, can all these requirements be met by Zeroadha & Coin related Accounts?
Look forward to your quick reply. As I have provided my email address, you can revert back with the process also if possible.
Kind Regards,
Akshat
Please confirm if the trading & demat account with ICICI is an NRI account?
1. Yes, you can open one NRE/NRO trading and demat account. If you already have an NRE account, you cannot open multiple NRE demat accounts with different brokers.
2. Currently No. We haven’t yet offered Mutual Fund for NRIs. We’ll be going live in sometime.
3. Will check on that and get back to you.
4. Yes, The PIS account is linked to Zerodha trading account where you place trades in equities.
Can you email me on [email protected]; Will also have someone from our team send you the account opening process.
Thanks Akshay, but I guess if I need to close ICICI Direct Account it maybe a 2-3week switch process and maybe I loose out on share value which I may have to sell and but again with the new account. I have emailed you and look forward for your thoughts and solution. But I think if you can get the MFs onlie for NRIs it would be very helpful and I think it is a big market with lots of interest.
If the Depository is the same for an existing demat account, i dont see a way to put my existing demat account in the form. Please advice
Can you be more specific.
I have a demat opened through hdfc. SO when i open an account with you, you will force me to open another through you ?
ALso, if its same CSDL is the provider, how do i give my demat account details when i sign up for Zerodha ?
I dont see the option online other than take print of form and send through courier
In the online option, you cannot open only trading account. You will have to print and send us the forms.
Ok, i have an existing Demat account, what will be charges for operating the mutual funds?
50 per month is ok, but does the demat AMC charges also apply ?
If you already have an existing demat with us, there is no additional AMC. But otherwise yes, Rs 50/month and Rs 300/year as AMC for demat. But that can be used for equity/ETF and etc also.
when “Mirae Asset Emerging Bluechip Fund” will be started on your coin platform.
One of my friend started his SIP in this MF via ICICI direct.
They don’t have direct mf in demat enabled yet. We are following up with Mirae. With ICICI it would have been regular funds.
Similar to other people, I also have a lot of questions & suggestions. I am copying those questions/concerns verbatim here. Please look into these as this will help me make a decision whether to go with Coin or other competitors.
Dear Nithin Sir,
1. folio Number and its relevant details are not available in Coin login and the mutual funds in Kite holdings.
Please look into the possibility so that the same can be incorporated.
2.Secondly the account statement of mutual funds should be available for download with zerodha name. this is not available.
3.thirdly the email sent by the Zerodha for SIP debit and successful allotment of the mutual funds is not coming.
4. the statement should be downloaded like the name of account holder alongwith pan and other relevant details this will help is somebody has taken ELSS MFs.
Please look into the matter
I think, if you could implement the following things in Coin it will be great.
1. Watch List
2. Selection of SIP order execution date instead of the same day or next day. (So that we can plan & schedule new SIPs)
3. AWP (So that we can park our funds in Liquid Funds and schedule for automatic withdrawal before SIP date)
4. Separate fund allocations for each products similar to ICICI Direct.
Are any reports available to subscribers who invest via this platform ?
What sorts of reports are available to investors ? Account statements ? Fund Performance ? Gain & Loss Reports ?
If yes, what format are these in ? Pdfs or Excel Sheets ?
Thanks.
1. All MF is in demat form, there is no need of folio number anymore.
2. We will have this soon. Until then you can ask for your holding statement. It will show this.
3. Can you email [email protected] with more details.
4. Yes.
About other suggestions, there are portfolio reports. We will soon have capital gain statements.
Dear Nithin
Are any reports available to subscribers who invest via this platform ?
What sorts of reports are available to investors ? Account statements ? Fund Performance ? Gain & Loss Reports ?
If yes, what format are these in ? Pdfs or Excel Sheets ?
Thanks.
Hi Vivek,
1) If you want to download your holdings statement then you can download your demat account statement. The procedure is mentioned in this link.
2) P&L will be available in sometime in the new version of Q. In the meanwhile, you want o check the P&L manually the you can download your Order Book from the Order History in csv format
3) There are no reports that we provide from our end with respect to the performance of each fund.
Hi,
Today I activated Coin. I think, if you could implement the following things in Coin it will be great.
1. Watch List
2. Selection of SIP order execution date instead of the same day or next day. (So that we can plan & schedule new SIPs)
3. AWP (So that we can park our funds in Liquid Funds and schedule for automatic withdrawal before SIP date)
4. Separate fund allocations for each products similar to ICICI Direct.
Thanks in advance.
Dear Nithin Sir,
1. folio Number and its relevant details are not available in Coin login and the mutual funds in Kite holdings.
Please look into the possibility so that the same can be incorporated.
2.Secondly the account statement of mutual funds should be available for download with zerodha name. this is not available.
3.thirdly the email sent by the Zerodha for SIP debit and successful allotment of the mutual funds is not coming.
4. the statement should be downloaded like the name of account holder alongwith pan and other relevant details this will help is somebody has taken ELSS MFs.
Please look into the matter
Thanks
Bhushan K
I know coin charges Rs 50 per month for subscription charges. I would like to know:
1) What are other charges per transaction apart from subscription charges? Are there any service charge, transaction charge or GST per transaction?
2) How do I stop the subscription? If I stop the subscription then what happens to my Mutual Fund units? Do I need to redeem them in order to stop the subscription?
1. No charge
2. To stop subscription on coin, you have to either redeem the direct MF or transfer it out to another demat
Hi Nithin,
i have read lot of comment regarding MF and subscription charges of 50/month post 25K,
still i have some confusion, requesting your help on the same.
My investment upto 25K is free so consider i am buying MF of 2K per month which will 24K in year ..so it will be free for first year..
so my assumption is if i continue investing under 25K every year it will be free as long as i subscribe under 25K right?
or will be just first year? cause from next year my investment value will be double say 50K..
Also i read somewhere if investment more than 25K it is 50/month but that will be only for that year correct?as in when my amount exceeded 25K in that perticular year i have to 50rs if im not wrong.
please clear my confusion.
It will be just for first year. After that Rs 50 will be applicable.
Hello Nithin,
There is indeed a GST on that Rs.50/-. You end-up paying Rs.59/month.
Once you break that 25k barrier, and if you have Standing instruction setup to move funds to Zerodha a/c.
Total fee for using Coin would look like this:
AMC Rs.300/-
Subscription fee Rs.59/- (after GST)
Total: (59*12) + 300 = 1008
P.S:
Also if you check the ledger, there are multiple transactions which are labelled “Being Payment Gateway Charges Debited – “. Not really sure when exactly is it debited.
Rs.1008/year, i.e. Rs.84/month.
Zerodha coin is really good platform. Thanks to introduce it.
I have few concerns about the representations. The coin website is not such helpful to find good and performing MF. It just shows flat list of MF. Also the link of scheme related documents points to MF company website instead of actual documents. Its very difficult to find correct document from that website.
Thanks again for such good platform.
Happy investing 🙂
Yes Laxmikant, we had just built an execution platform thinking there are quite a few ones to do research on MF. We are adding a screener of sorts soon.
Hi,
Is there any facility to switch one mutual fund to another mutual? If answer is yes, please elaborate the process.
Currently the switch is manual. You have to exit one and place a fresh purchase to the new one.
Team Zerodha,
can i transfer my direct mf which i have opened up in online(mf website) to zerodha coin?
thanks in advance.
Yes Tanmoy. You can ask them to credit the MF units in demat form to account with us.
Hello Zerodha,
Regarding equity mutual funds in coin, I have a question on short term capital gain tax during redemption.
Let’s say I am investing INR 1000 every month in SIP starting January 2017. I am planning to redeem INR 10,000 on March 2018. At this point it would have been more than one year for my first 10 SIPs. So there should be no short term capital gain. My questions are;
1. When I redeem, will zerodha automatically sell the oldest SIPs first so that I can avoid short term capital tax?
2. Since this is demat holding, how will each SIP be tracked since everything is consolidated into a single holding?
3. Before selling will zerodha intimate me that I will be levied short term capital tax if applicable?
Thanks
1. Yes, when shares/MF are debited from demat, always First in First out logic is applied.
2. Similar to stocks, trades have resulted in holdings.
3. Taxes has to be paid separately by the investor at the end of the year while filing ITR.
Zerodha CEO Nithin Kamath will never answer client query when confronted with tough questions .
Zerodha team is unable to answer me when will i get my 20k rs refund of a failed mutual fund purchase.
Nithin should answer how can a 20k purchase order of mutual fund fail with remarks: Amount to be greater than or equal to minimum transaction amount. when minimum amount is 5k.
When will zerodha refund me 20k ?
CEO SHOULD ANSWER QUERIES AND COMPLAINTS OF CLIENT INSTEAD OF JUST DOING MARKETING!
Tejas, this is an issue from BSE STAR MF which is our backend order routing system and we have reported the same to them keeping you in the loop. If there is an issue with your order then your amount will be refunded to your account once they provide a confirmation. We are a service provider and have to rely on STAR MF and the AMC to provide a resolution if such an error occurs. So, we request your patience and cooperation in this matter.
Hey Tejas, I can answer generic queries. It is not possible for me to answer individual client account specific queries and complaints here, there are 3.5lk clients and one me. This forum is not for that. If there is any account issue, email [email protected] with your client ID, someone will get back. If you don’t get a proper reply, email me. Your 20k if not invested in the MF will be in your account itself, will go nowhere. Sometimes BSE star mf which is the underlying platform on which we place orders sends wrong rejection reasons. I am guessing this is the issue. Anyways, make sure to send that email to [email protected]
Zerodha CEO Nithin Kamath will never answer client query when confronted with tough questions .
Zerodha team is unable to answer me when will i get my 100k rs refund of a failed mutual fund purchase.
Nithin should answer how can a 100k purchase order of mutual fund fail with remarks: Amount to be greater than or equal to minimum transaction amount. when minimum amount is 5k.
When will zerodha refund me 100k ?
CEO SHOULD ANSWER QUERIES AND COMPLAINTS OF CLIENT INSTEAD OF JUST DOING MARKETING!
order failed for Kotak Select Focus Fund – Direct Plan
(Growth)
07-01-2018
₹ 100000
0
Buy Failed
Retry order
eKYC investor – not meeting the eligibility criteria.
Till now I do not get the refund 100k.
Hi Tejas, we received the amount from BSE and have credited the same to your trading account. You can login and verify the same in Q. But, they are yet to give a reason for the rejection of the order (hope you must be aware of it as you are marked in the same mail thread)
Myself also the same problem
Zerodha CEO Nithin Kamath will never answer client query when confronted with tough questions .
Zerodha team is unable to answer me when will i get my 100k rs refund of a failed mutual fund purchase.
Nithin should answer how can a 100k purchase order of mutual fund fail with remarks: Amount to be greater than or equal to minimum transaction amount. when minimum amount is 5k.
When will zerodha refund me 100k ?
CEO SHOULD ANSWER QUERIES AND COMPLAINTS OF CLIENT INSTEAD OF JUST DOING MARKETING!
Sudip, this forum isn’t for account specific queries. As the support team has responded to your ticket, it takes up to 6 working days for the refund to be processed.
some problem with zerodha coin platform. my mutual fund purchase order was rejected with remarks: Amount to be greater than or equal to minimum transaction amount. i tried to invest with 20k amount where as minimum amount is 5k for that mutual fund. PLEASE DONT INVEST WITH ZERODHA COIN PLATFORM UNTILL ZERODHA RESOLVES MY ISSUE GIVING EXPLANATION!
Hi Team,
I am confused about this whole no commission clause. I use goalwise for MFs and I am not charged any additional fees upfront or recurring. But they do get a commission from the banks as a one time and recurring payments. Are you saying that you will give me back that commission? i.e. if I give you 100Rs and the NAV of a MF is 100Rs, you will purchase more than 1 units? if not, how are you different?
Hmm.. check this post. Should answer your query.
Hi, I have been zerodha customer since long, have small doubt about your new COIN facility.
How is this different from FUNDINDA.COM and why should I you choose over them? Since they operate on absolute free. Its just a question on how do you make it even better?
Ganesh, fundsindia is a distributor, so they earn upto 1.5% commission upfront and annually. In direct funds we don’t earn any commission at all. Check this.
Hi,
is it possible for NRI to invest in direct mutual fund through COIN
Not yet, but we are working on making it happen soon.
Hi Zerodha Team,
I am using Zerodha from last 3 years. I have started moving all my family accounts ro Zerodha. I have recently open my HUF account. I have few queries on the same. Kindly reply
1. Equity delivery was always free with Zerodha. I observed you are charging for HUF account which should not be the case as it is still a form of retail individual Client. No company or Corporate involved. For HUF account also it should be free ?
2. I now want to use COIN platform for all my MF investments. Being a HUF account, i will be only charged Rs 50 per month correct correct ? No brokerage just like equity investments correct ?
3. I have lot of holdings of MF in demat mode with RKSV. Can i filled DIS slip and get it trasnferred to zerodha , just like I fill DIS slip for equity. Once it is transferred, i will be able to see in my Consolidated holdings in COIN ??
Thanks
1. hmm.. let me talk to our team.
2. Yes, no brokerage.
3. Yes, you can fill DIS and transfer. But the MF won’t automatically convert to direct, they will still be the distributors.
Dear Sir
How can i get Mutual Fund Daily Score Card excel sheet ? I am regular customer of zarodha.
Regards
Sanjay
hmm.. we dont’ currently have this feature. Can you email me on [email protected] with what you want on this excel sheet. We can have this done.
Hey Nithin,
First of all, great job in replying to all the questions in here.
I have a couple of questions;
1.) Franklin India Smaller Companies Regular fund is available but not direct one, why?
2.) Is it possible to invest in New Fund Offers(NFO) through coin/zerodha?
3.) If I invest in a direct mutual fund directly through the AMC website and the fund is available to invest through zerodha as well, is it possible to import that into coin database somehow?
4.) If I invest in a direct mutual fund directly through the AMC website and the fund is NOT available to invest through zerodha as well, is it possible to import that into coin database?
Thanks!
1. Franklin hasn’t yet listed direct funds in demat mode on exchange plaform.
2. Yes
3. Yes, you can ask the AMC to credit those direct funds of yours in demat form to your demat with us.
4. Yes, you still can into your demat.
Hi Zerodha
This is a great platform for investing in MF. While doing my investment in direct funds, I could not find one MF called “DSP BR Micro Fund”. Neither in direct, nor in regular. Any specific reason?
I think they have stopped fresh subscriptions to DSP microcap.
Nithinji,
Please refer my. Mail dated 17tyh. It seems you have skipped from nsweing.
I migrated to NOW. Without Kite. Password, I can’t do anything regarding my existing SIPs, though in near future no idea any new SIP, but after sometime, I shall
require for SIP purpose.
Hense, I request you kindly , please create separate password to access Coin, which will be useful for us.
I hope you understand my problem and please have a word of reply.
Thank you Sir.
hmm.. that will be tricky to offer. All our products use Kite logins now. Will be not possible to create another login/pwd.
Ok, Mr. Nithin, for funds Transfer Klite password is essential, as it is the payment gateway. For accessing Coin , create SIP only I am asking..
Please have in mind and put up a word to your technical team for the possibility.
Thanks for your kind reply. Regards.
Hi,
I have just started investing in mutual funds couple of months ago and have 4-5 direct funds bought through AMCs. Is there a way to port and continue all of these mutual funds to Coin without redeeming or closing my accounts?
Thanks.
You can ask the AMC to credit your funds in demat form to your demat account with us.
Couple of questions:
1. Is the Charge 50 Rs per month inclusive of GST ( i guess it is 18 % )…or will it be charged extra ?
2. Once, I cross 25K limit…will it be charged every month even if I dont invest any furthur ? ( say bought 50K ELSS and holding for 5 years…so 50 rs each month till I redeem ?)
Thanks
1. No extra.
2. Yes – Rs 50 is platform subscription charge.
Hi,
I have just last week applied for Zerodah Trading and Demat account last week and waiting for the login ID. I am keen on Coin. However I have significant investments in Invezta (Direct Funds). Is there a facility to port them over to Zerodah? Not keen to use multiple brokers. Also when is Franklin coming on board? I have significant investments in that fund house.
Thanks,
Roshan
Roshan, you can ask the AMC to payout all the direct you hold to your demat account with us. Franklin we are following up with them to start offering direct in demat on exchange platform.
I have an existing Zerodha trading a/c with an ILFS demat a/c. Two questions.
1) Do I need to undergo another KYC with you or any AMC to invest in MFs through Coin?
2) Seems I have to open yet another (!!) demat a/c to invest through Coin. Why so? If it to to enable you to charge a fee (which is legitimate in my opinion) why not let those of us willing to pay Rs 600 as a recurring yearly subscription fee to use the platform and be done with it.
1. Not required. Login to q.zerodha.com, go to profile, you have a prefilled demat form there. Sign and send it to us.
2. In the current setup we are not able to support those demats opened through ILFS.
Seems like we are slowly getting locked-in the Zerodha walled garden!!! So what comes next? A bank, surely.
😉
(just kidding)
Nithinji,
I am a customer of Zerodha for the last 1 and Half years. I am doing mnaximum intraday stock trading. Due to some glitches faced by me in. Pi for last months, I have switched over to NOW platform from now onwards., knowing that my password will be locked in Pi. And Kite. Ok, as my trading terminal be NOW, I shall do trading in NOW.
The major problem is I am having mutual fund SIPs in Coin., and I cant operate the same through Kite password. Your support team contacted and informed the same. I accepted as I am not selling or stopping the SIP. But I may open new sip after sometime.
My humble request to you is to arrange for a system of operating Coin, without Kite password and a new password for operating Coin only may be provided to us.
Please don’t abruptly deny this. Please understand the difficulty and do the best to us.
I hope you shall do this, as you are an innovative stock broking firm.
Thanks and regards.
Hi Nithin,
I’ve have few basic queries, plz reply.
1) If I invest 30,000 and after two months I redeem 10,000 (balance is 20,000<25000) , Do I still need to pay 50rs/mo throughout my subscription period?
2) If my investment goes below the 25000 for few months (lets assume for 3 months) Do I still have to pay 50rs/mo for those 3 months ?
3) If I invested 24000 and after 6 months it shows current value 26400 (10% growth) so Ive to pay 50rs/mo later on or not ?
4) what if I invest 30,000 and after 6 months I sell out all the funds, Do I still have to 50rs/mo? If yes then how to block this subscription after 6 months?
1. Yes
2. Yeah. You can assume this to be like a yearly Rs 600/year fees to do as much of direct MF.
3. No
4. You can sell out and unusbscribe from coin, you won’t be charged.
Hi Nithin,
Congrats for doing a fabulous job on low cost brokerage. I had one question, I may be wrong on this but I feel all the best performing mutual funds are not offering direct purchase option. Is it that a share of the distributor commission is passed to the fund manager 🙂
Thanks
Anshuman
🙂 hey no, all funds have to be compulsorily be listed in direct as well. It is just that on coin, we list only direct which are in demat. Some of the funds still don’t have all funds enabled for direct in demat on exchange platform.
When can I expect “Mirae Asset Emerging Bluechip Fund – Direct Plan (G)” in Coin. You have many others from Mirae but not this particular one. One time investment is not allowed however SIP is active in this.
regards
Sachchidanand
Hey Sachidanand, this fund has stopped accepting fresh inflows.
Worst ever search system… Merie, dsp microcap, even frinklin india all funds unable to search any ….. Why you making fool of us
Deepak, these AMC’s have not yet listed mutual funds in direct demat form.
SIR CAN I INVEST FROM COIN IN THE NAME OF MY HUF?
BCZ I HAVE A ZERODHA A/C IN NAME OF MY HUF BUT WHENEVER I CLICK ON COIN LINK IT SAYS UR A/C IS NOT ACTIVE FOR MF INVESTMENTS.
Can you please share your client ID to [email protected]? You shall be able to login by EOD
Hi,
How do I download my MF holdings statement for investments done thru Coin? I cant find it on Q (unless I’m missing something). I need either a holding statement on the MF letterhead or a demat account statement with the MF units listed.
Hi Sandeep, you can click on this link to understand the procedure to download the demat account statement which will reflect the schemes that you have purchased through COIN.
Question please:
What time in day you run your jobs to update the Portfolio pricing in Coin ?
What rate will I get depending on what time in day I make the redemption ? Can you give some clarity please ?
How long will it take for me to get my money Once I redeem ?
Any response ?
Hi,
1) The NAVs are updated on our platform everyday after 10 am.
2) If you place the redemption request on T – day before 1:30 pm then you will receive the redemption amount at the NAV of T -day.
3) It depends upon the redemption settlement time of a fund which can vary from T+1 to T+3 days. When you are placing the redemption order, you can view the settlement time for that particular fund.
Hi Nithin,
The Franklin Mutual funds are not listed in your mutual funds list, Is there any particular reason?
Regards,
Charan
Franklin haven’t enabled direct MF in demat forms yet.
We’re offering you the MF service through BSE’s StAR MF platform, Franklin hasn’t integrated to offer direct funds yet. You can buy regular funds for Franklin using Coin for now.
Hi nithin
Could you please explain more about:
“Flat fees of just Rs 50/month for subscribing to Coin. Moreover, your first Rs 25,000 worth of investments is absolutely free.”
e.g
if i purchase 50000 worth of mutual funds in one time purchase then what will be the charges/year
if i purchase 5000 worth of mutual funds in sip mode for 1 year what will be the charges/year
if you buy 50000, Rs 50 applicable from first month, so Rs 600/year. If you buy 5000 SIP, it will be applicable after 5 months, so you will pay 7 x 50 = 350. Rs 600 per year from second year.
I have started some SIPs with Zerodha. I am facing following deficulties with Coin:-
(a) The amount would not deducts from my saving account, whereas I have to remember the date of SIP and need to transfer the amount or else do the Standard Instruction to the bank. The facility to deduct the SIP amount directly from the account would make the life much more easy.
(b) STP/SSP/SWP/Trigger facilities are not available on Coin.
Sarita Yadav
There is a workaround for this. Check this.
Sir, That is ok. But is there any possibility that Coin platform would be upgraded for direct deduction from account itself. Also what about facilities like STP/SSP/SWP/Trigger which are not available on Coin. Is there any plan to include them on Coin Platform.
Yeah, we are waiting for the enach to be released by bank, once done we can have direct debits working from banks itself. Yes, all those features are also planned for.
Thanks Sir and I am delighted with your prompt replies. Keep the good and innovative work going.
Dear Nitin, i’m a salaried person and i have subscribed for SIP in 6 AMCs with SIP amt of 10000/- each (all direct plan by going to their respective AMC site). I agree to the fact that it is cumbersome. Now if i have to do similar SIP using coin, do i have to transfer that much money to ZERODHA from my bank a/c at the starting of the month itself (then i lose interest). And then every time i transfer money i end up paying Rs 9/-. So is there a way by which money can be directly deducted from my bank A/C for the SIPs subscribed through coin and money getting back into my banking A/c on redemption of units held in coin. an early reply would be well appreciated. Otherwise i do have account in zerodha and you guys are doing wonderful yeomen service. Regards, Ramesh.
Ramesh, there is a work around for setting up a direct debit setup for SIP on coin. Check this.
Hi Sir,
I want to start SIPs through Zerodha Coin Platform, however, some of the funds by certain Fund Houses are not in the list of the available funds. In particular I wanted to invest in Franklin India Smaller Companies Fund. I also called customer care, but they were having no information regarding the issue. Please update me the time frames in which all the Funds House would be available on Coin platform.
Franklin hasn’t yet enabled direct funds in demat mode. Until they do, we will not be able to offer.
Hi,
Where can I get my mutual fund account statement which I have bought through coin. I only received an allotment email. There was no documents like contract note we get during equity trading which has a signature on it?
There is no concept of contract notes for MF. You can login to coin.zerodha.com and check your order history or portfolio.
Rs 50/month would be charged on my 25000 investment in Direct funds or if my total balance (invested amount + interest) exceeds 25000 for Direct funds i need to pay 50/month.
Rs 50/month will be charged after your first 25k worth of investments on coin.
Hi Nithin,
Upfront costs and trail commissions are part of expense ratio of mutual funds. So, when users are buying MF through Coin platform, then they need not think anything about expense ratio as they are not going to pay them as they are already paying a subscription fee of 50 rs/month. Am I right? Instead of paying expense fees of mutual funds, users are paying subscription fees. Right?
Expense ratio for direct mutual funds are lesser than regular funds. I have explained in detail here.
Hi Nithin,
Where can we see lock in period of mutual funds on coin platform before buying?
If you go to individual fund page on Coin, at the bottom you will see a link to scheme related documents on AMC website. If you click on it, you can search for this.
Hello,
Good job as always. We traders are expecting something for us. Every product goes investor friendly. Please don’t get the traders groups 🙂
One more point do you think F&O lot value will be increased again to 10 Lakh ?
I read @ http://www.moneycontrol.com/news/business/markets-business/sebi-reviewing-equity-derivatives-rules-wants-to-deter-retail-investors-in-fo-2314013.html
Hi Zerodha Team,
I’m planning to open account and invest in MF’s using the coin zerodha, but one thing kept me waiting to open account i.e., since the mutual funds will be held in demat format I would like to know what are the charges investor has to incur during investing, withdrawal and also for transactions? I heard holding in demat format will incur more transactional changes and also other DP charges.
During investing no charge other than the Rs 50 per month for using Coin once you exceed 25k worth investments. When you redeem, there is a DP charge of Rs 5.5 since it is in demat. No other transaction fees.
Hello Nithin Sir,
When I am starting a new SIP on Coin, then it is saying that the first minimum investment has to be mandatory Rs. 5000/-. When I have done the same SIP through a broker then there was no such condition. Is the minimum investment amount of Rs. 5000/- is fund regulated or zerodha has made it minimum amount. Rather if one wants to start SIP of Rs. 1000 each in 5 schemes then he has to pay Rs. 25000/- ( 5000* 5 ) which may not be possible.
secondly Please provide the ISIN and symbol of Schemes alongwith names. because there are 100 of schemes in market and if we filter / search on the basis of ISIN in coin then the required one only will be selected.
Please look into the matter favorably.
Thanks
Bhushan K
Bhushan, currently on COIN it is not the traditional SIP. We are essentially simulating SIP by doing lumpsum investments at regular intervals. This gives us flexibility in many ways. But yes, for lumpsum, many funds have 5k as starting. We are speaking to AMC’s on it. About ISIN, bouncing it off our team.
I want to 2000/per month sip by zerotha coin. Can i start 2000/per month sip without minimum amount rs 5000. I have demate account of zerodha
Hello Nithin,
Its been 3 years, but the issue still persists with Zerodha. While it’s possible to start with investing a minimum amount of which I want to do SIP on other platforms.
Can you please let us know, why we have to pay 5000 as the initial investment amount?
Hi,
If i have 3 different Mutual Fund SIP… Per month have to pay 150 … Zerodha acts like distributor but with less commission. Yearly 1800 needs to pay… Its a just one day work have to go directly Mutual fund house.
Coin its not good retail investor…
Small case is pretty good.. For retail investor hard to find good companies..
No it is Rs 50 irrespective of how many funds you invest in. Total cost for year is maximum Rs 600.
Hi Nithin, Presently I am investing in 5 funds 3K/month from a distributor. But I found coin is offering minimum 5K/month in each fund. Can I invest 3K/Month thru coin.
Please let me know. If Yes, I can think of moving to coin.
Thanks,
S Karapurkar
Coin doesn’t have restriction of minimum 5K. Yes you can invest 3k/month through coin.
Dear Sir,
Please comment on below regarding MF investments via Coin platform:
1) On the coin platform, the DP charges are applicable only for SELL / Redeem transaction?
or
Applicable on both buy / sell?
2) If we start building our MF portfolio (@Rs 25k / month SIPs) on Coin platform by paying Rs 50/month, say 1-3 years down the line – Zerodha decides to change this amount to something higher (like between Rs 100-500), will there be an option to transfer my MF portfolio to other vendors or would I be forced to redeem them all?
3) Understand the advantages of Demat which you have mentioned in above posts, but to avoid the DP charges, is there any other way on holding these MFs on any other accounts other than Demat?
4) Understand the long term benefit over other vendors like FundsIndia (direct vs regular) even after paying monthly fees on Coin (assuming its going to be Rs 50 for next 10 years) but how different is Coin from Unovest?
On Unovest website, we are allowed to purchase direct funds with no monthly fees (need to have CAN setup via MF Util and SIPs via EZ Pay) and in non demat format (no DP charges). We do have subscription packages for managing multiple CANs and financial advisory / planner guidance.
5) Will there be an option to switch from fund A to fund B within the same AMC
or
Should we redeem Fund A and invest into Fund B within same AMC?
1. Only when you redeem DP charge applicable.
2. Since MF is in demat form, you can transfer anytime you want.
3. currently no. Holding in demat brings a lot of convenience. Tomorrow when we start lending, you will be able to pledge it for a loan click of a button.
4. We are the only platform that allows you to combine all your equity investments along with direct MF.
5. Redeem fund A and then invest into B.
Hi Nithin
I am searching for franklin funds in direct mutual funds in last few weeks and still not available.do you have any time frame when it will be avaialble in coin as Direct.
2) I already invested more than rs 25,000. where can i see rs 50 is deducted from my account.
thanks
1. Franklin is still not allowing investing in direct MF in demat mode.
2. Go to Q.zerodha.com and search for ledger.
Hi,
I’m currently investing in Mutual funds using another portal. Now i wish to shift to zerodha portal. Can u tel me if it is a possibility?
If yes, kindly let me know the procedure to be followed. It would be great if you would mail me the procedure (if any)
Thanks in advance.
Regards,
Yogesh
Yogesh, all new investments can be done through us directly. All the old investments, you can shift it to your zerodha demat account. You can request the AMC to convert the MF in demat and credit it to your zerodha demat with us. Your zerodha demat number or DP ID is available if you login to Q and click profile.
HI
I want to subscribe ELSS using this platform. Is this possible?
Kindly write few articles about investing who are new to funds and markets.
Also, fundsindia do not charge any commission on sip’s, so why are you charging Rs.50 per month. You can follow their model to keep costs lower and customer can get gain from it.
Niix, funds india offer regular mutual funds, you can click here and invest in regular funds through us as well without any fees. For direct fund there is a fee because we don’t earn any commissions for selling the fund from AMC. The commissions on regular funds are high and hence direct is best. Check this on why direct vs regular.
Thanks Nithin for the info, but you didn’t answered if someone wants to subscribe ELSS using this platform ?
Of course it is possible.
Hi,
Can I withdraw only half unit, FIFO for saving taxes in Coin (If making investment through SIP) without stopping SIP ?
Yeah u can.
Hello Nithin,
I a residing in UAE. Can i invest in direct mutual funds using COIN platform. Currently i an investing through FUNDS INDIA but they only offer regualr plan not direct plan.
Thanks
Not possible for NRI to invest direct with us currently, but we will start it soon.
Any timeline yet for the MF investments for NRIs?
No, some compliance issue when this is happening through PIS.
so i will be getting benefit of direct MF plans if i have invested more then 90000/- ( total fee per year = 900 (50*12+300) = 1% of 90000) ?
If a person only wants to invest in MF, then in order to truly motivate people to invest with Coin.. Zerodha should charge only after 90000. isn’t it ?
any views guys ?
if zerodha moves maximum limit from 25K to 90K, i guess, it will motivate more people to invest with Coin 🙂
Ashish, how will the business earn? 🙂 If business doesn’t earn, how will it be possible to sustain.
Hi,
I have mutual funds in various fund houses in different portfolios. How can I transfer them to Zerodha?
You will have to ask the AMC to payout your MF in demat form to your zerodha demat account .
Hi,
I have a few questions regarding various charges being charged for coin subscription. Could you please clarify my doubts?
What is the redemption charge per transaction in coin?
If I want to transfer my current holdings to a different broker, can I do so without selling them?
My investment amount is not above 50K per annum. Is it ok to pay Rs.600+ for coin subscription?
Thank you so much for your assistance!
There is nothing like a redemption charge, there is a DP charge by the depository when you exit a fund. Rs 5.5 irrespective of value. Since they are in demat form, you can transfer it to a different broker. If you buy regular fund, upfront commission itself can be as much as Rs 500 to Rs 1000 over which there is a trail commission for as long as you hold. So yeah, Rs 600 is quite a good deal even at 50k.
Thank you so much for the detail clarification!
If I trade in Equity & Commodity Then I need to pay (300+200)=500 per year? Plus in coin if MF investment more than 25000 then 600 per year. then total (600+500)=1100 pr year?
AMC only for demat = Rs 300/year. No AMC for trading and commodity. For Coin, yes Rs 600/year for unlimited amount of MF investment.
Mirae Asset Emerging Bluechip Fund (G)
this fund is missing in the list of MF. in zerodha coin.. when it will be available for purchasing?
We are waiting on the AMC to allow direct investment on it.
Hi Nithin,
Thanks for introducing single platform for multiple funds . I just started investing in Zerodha MF & I have 3 questions.
1) Any plans to introduce App fr Coin ( Android based)- Easy fr mobile users
2) What happens if I keep my investment’s within 25k by buying n selling funds regularly ( by holding fr short duration)
3) Can I roll between Direct n Regular based on availability of funds? If so how charges will applicable?
1. yep, on its way
2. once ur purchases exceeds 25k, the Rs 50/month charges applies.
3. Yes you can. For regular nothing, but for direct as soon as you exceed 25k worth of investments
Thank you Nithin for quick reply!
Is there a definite refresh time in a day for Q and Coin ?
Please suggest….
Q typically by around 7.30 to 8pm. Holdings on Q and coin can take a little more time.
Hi Nitin,
I have already started investing through Coin in my personal account, but I am not able to do so in my Corporate account. Please allow the corporate account holder to buy mutual funds or please share the timeline so that I can plan accordingly.
Hi Nithin,
Waiting for your reply.
We should have this enabled in the next 10 days.
Thank you Nithin.
Hi Nithin,
I am waiting for this service to be active on my account for last three months. Please activate the coin for the corporate account.
Hi Nithin,
This is regarding Mirae Asset Emerging Bluechip Fund. I don’t see this one in Coin platform while other funds from this same fund house are available. I am using Coin already. Could you please let me know by when Mirae Asset Emerging Bluechip Fund could be listed under Coin platform?
Regards
Suresh
Suresh, we are following up with the AMC to list this fund in direct plan.
A tagging feature is really required for people like me who wants goal based investments. It really makes life easy if you know the goal of any investment.
This is my request, and I am sure many will appreciate this feature.
—
Nandan
Have you checked Balance.
Hi Nitin,
I have two questions:
1) say I invest 1alkh lumpsum in some debt mutua fund. Do I keep paying rs 50 per month until I sell those shares or what?
2) Suppose at the end of few years I have a around 5 lakh in any debt mutual fund, does the coin platform allow me to transfer some of its amount to any other equity based mutual fund?
1. Yes. You can look at it as Rs600 per year, and you can do whatever without any commission.
2. Yes, you can exit the debt MF and buy into equity MF.
ok fair enough. Also the Demat account, is it valid everywhere? How do I know my Demat account has been openend? I didnt receive any credentials or something.
Can you email [email protected] for account specific queries. You should have received a welcome email.
what i meant from my 2nd point is that say i have 5 lakh in any debt fund and 1 lakh in any equity fund. Is it possible that I tranfer 50,000 from debt to e
No, you will have to first redeem the debt and reinvest in equity.
How is zerodha sustaining this low brokerage? I mean how do zerodha earn money to make sense of this zero commission MF? 50/month seems too less.
Hmmm.. 🙂 ask me about it. This would make sense only if we can get a few lakh subscribers on Coin. We have just realized that most people don’t understand direct plans, so yeah it is going to be an uphill task. But since this is not our primary business, it is okay.
hi, when franklin mf will be available in coin zerodha?
Franklin is yet to support direct in demat. We are following up with them.
Hi
I have made investment in soverign gold bonds via zerodha from primary market. Now SEBI dont allow trading between CDSL & NSDL for these funds in secondary market. So zerodha only allws sell of these funds which r purchased from primary market…they dont allow buy ’cause they dont hv NSDL pool account. I wonders how other brokers are allowing the same?..Is it not possible to buy these in secondary market from CDSL only?..On asking support they say we are working… but not providing specific time..I dont want to open other demat account as they are too costly?
Punci, even other brokers will have same issue. It is not just about pool account, it can’t move between NSDL to CDSL anywhere. RBI should have some clarification on this soon.
Thnx 4 prompt reply..So how sell is allowed? Some one is buying… how? Is it not possible to buy these in secondary market from CDSL only?
Regards
If you were having both NSDL and CDSL account with same broker, it was possible. That is why the liquidity is so less.
Can I open my NSDL account with Zerodha?
No, our DP is with CDSL.
NSE CM, F&O, CDS: INB/INF/INE 231390627 | BSE CM, F&O: INF/INB 011390623 | MCX: 46025 | CDSL: IN-DP-CDSL-00278209 | NSDL: IN-DP-NSDL-11496000. Commodity Trading through Zerodha Commodities Pvt. Ltd. NCDEX | SEBI
Above is at bottom of kite web page, here NSDL is also there..Is it like you have demat at both the places, however for trading you allow only for CSDL?..If possible allow operation in NSDL & CDSL only for RBI gold bonds, ’cause it is really available at lower price, Interest yield is 3%, instead of 2.75%.
For NSDL we have tie up with ILFS. Not possible to allow operation in both NSDL and CDSL simultaneously.
Nithin – I really appreciate and convinced with your spirit in market. I became member of Zerodha and Coin after watching your videos.
Here are my suggestion / pain points:
– Why can’t I sell MF with a order limit. This optional feature is available for buying but not in selling. This can be a trouble when you take T+3 days in time of deep market correction. Can this be available ?
– I need more machine learning / intelligence to provide suggestion on buying MFs. I understand you dont claim to be advisory service however is there any investment in such technology is in the cards ?
– What is overall backlog of features that I can expect in coming few weeks / months both in Coin and Kite ?
– When are you planning to support Pi on Mac ?
– When can I expect balance app in iOS ?
regards
sachin
– on our list to give redemption at limit.
– we are working on partnering with new age startups for this. Nothing has materialized yet.
– Phew, quite a bit of backlog of features. We are currently working on replacing entire kite backend, launch new Q and Kite native ios app.
– Pi on mac wont’ be possible, pi uses microsoft dotnet.
– Some more time.
Thank you Nithin for your response…some more pls…
– How do you react to competition which offers 9/10 rs / lot in derivative like RK global or 5 paisa… Do you think your pricing model should be revised for small option traders like me who buy 1/2 lot at a time that too Cash ?
– When can I expect “Mirae Asset Emerging Bluechip Fund – Direct Plan (G)” in Coin. You have many others from Mirae but not this particular one. One time investment is not allowed however SIP is active in this.
– Also, Is there any science behind spending 10 Rs for every fund transfer. Are you using third party wallet or something ?
regards
Sachin
ahhh, another imp one, I should receive an email when you or anyone respond to my query in blog. Guess that can be implemented easily if you have some email service….. Email is mandatory field to post comment….
I think the email must be landing in spam, check out.
– hmm.. no plans to change the pricing plan as of now.
– They are yet to list demat in direct form.
– We use 3rd party PG, so this is their cost. You can do a NEFT/IMPS/RTGS and we won’t charge.
I am sure parent commenter meant that your app on Mac, whether it uses dotnet or anything else. At the end of the day you just use the API.
By the way, maybe ask your dev team to explore Mono which is used for .NET on non windows platforms or can try something like Electron or ReactNative for multi platform desktop app development. The dev time isn’t high either. Better than using virtual box.
But if everything that can be done in Pi can be done in web and mobile app too then at least I am fine with that.
Let me congratulate you on making a wonderful trading platform for mutual funds. It is a hassle trying to invest in mutual funds through the normal route.
I have a few doubts on sale of mutual funds from COIN platform. Request you to kindly clarify every point
1) Do we have to make sale of mutual funds during trading hours only ie 9.15 AM to 3.30 PM Monday to Friday or
can we sell mutual funds on COIN platform after office hours say from 6 PM to11 PM for sale on the next day
2) Since there is no app for COIN, taking access of COIN on chrome, is very tedious due to the small font size / complete webpage not being visible when enlarged on mobile . When can we expect an app for mutual funds or it can be linked in KITE app itself.
4) When stock is sold on KITE, we get money in our trading account within a minute, Will the same happen in sale of mutual funds, ie getting money in trading account within a minute.
5) Will the money from sale of mutual funds be credited to bank account or Zerodha trading account
1. You can do it anytime you want. Since AMC’s have a cut-off, what you do after 1.30 pm, goes to the next day processing.
2. We are currently working on Kite ios app, we will have the coin app right after.
3. No, money from redeeming mutual funds will depend on the settlement cycle of the funds.
4. Trading account.
Hey!
I used to invest on another platform where I bought a mutual fund once by purchasing with min. amount required & then kept making additional investments of smaller amounts as & when I could save some money (without creating an SIP)
Eg- I bought a mutual fund by making initial min. investment of 10k, then every month whenever I could save 1-2k, I’d make additional investments.
Is this possible in coin (making additional investments in small amounts & not as the min. required 5k or 10k everytime?
Absolutely possible.
Thanks man! 🙂
I am a little bit confused about this coin platform. Before coin I invested in some MFs (investment amount say Rs. 10,000) which are “Non-Direct regular funds”. Now from coin, how much money can I invest in Direct MFs so that I don’t have to pay Rs. 50 per month? Is it Rs. 15,000 or Rs. 25,000?
What you did before is not counted, you can invest fresh Rs 25,000 on coin.
Usually Zerodha’s charges are lower than competitors. But this time, Zerodha is on the higher side. For small scale investors who just invest small amounts on a few number of mutual funds, charging per transaction is the better option. For them, due to this monthly charge, there is hardly any extra benefit from direct plans. Services like MFUtility (mfuindia.com) are completely free of cost. Charges of other direct MF services are as follows:
Kuvera.in – Free upto Rs.1 Lac investment
Orowealth.com – Rs.50 per purchase
ExpoWealth.in – Rs.149 per purchase
Invezta.com – Free upto Rs.75k investment
ClearFunds.com – Rs.149 per purchase
WealthTrust.in – Free??
Expecting more cheaper rates from Zerodha Coin.
The first Rs 25,000 is free Vinod. Also if the business doesn’t earn, how will it survive.
I am a coin user and going to stick with it 🙂 but web interface is not as good as Kuvera. Are you guys planning to improve coin interface ?
NAV is not matching with AMC,s site, it is less than mentioned in your site. So it is not same as you states.
John, the NAV on coin is for direct funds, you might be looking at the regular plans. Since no commissions get paid out from direct, their NAV’s are always more than regular.
Hi Nitin Kamath,
last week i purchased mutual fund units of reliance in coin MF.
i purchase more units of MF of reliance after few days.
The problem is that every time i purchase i got different folio number.
It means every time i purchase units i will get different folio number.
It will be very difficult to maintain record of hundreds of folios.
In physical mode we can have same folio number of different purchases.
kindly solve this problem
Hi Rahul,
The folio number is assigned by the AMC (in this case Reliance) as soon as you make you first purchase. But, if you make any additional purchase in the same scheme then folio will remain the same. However, if you have invested in any other scheme/schemes of Reliance, then the AMC would either assign the same folio number (assigned for the first scheme) or they might assign a different folio number for the investments in the new scheme/schemes.
In any case, for investments in demat mode your DP ID number is more relevant than the folio number as all the investments reflect in a consolidated manner in your demat account statement.
Hi Nitin Kamath,
I understand that the NAV of the Regular Fund will always be lower than the NAV of the Direct Fund, as the expense ratio of the Regular Fund would be higher than the Direct fund. But as growth rate will be same (say 3 years return is 25%) for both won’t my return will also be same for bot funds.
Plan Type Amount to invest (Rs) NAV Today Units Today NAV (+25%) Redemption Amount (+ 25%)
Regular 15000 52 288.46 65 Rs 18750 (288.46 *65)
Direct 15000 54 277.78 67.5 Rs 18750 (277.78 * 67.5)
Let me know if I am doing anything wrong/ missing anything in the above calculations. Also, please note that I get Units as per the NAV and redeem units as per the NAV shown. There are no charges of any kind while buying or redeeming the units.
My questions are
1) How do an upfront commission of upto 1.5% on your investment and a trail commission of upto 1% would affect my return in case of Regular Fund?
2) How does it matter if I bu the Regular Fund or Direct Fund as far as there is no extra charges while buying or redeeming the units?
Hi Ravindra, check this video. In mutual funds everyday an expense ratio is applied to the AUM. So assume for regular it is 2.5% and for Direct it is 1.5%. End of everyday before NAV is declared for the day, 2.5%/365 x AUM (1 day expense) is applied and that value reduced from AUM and then NAV declared. Similarly 1.5%/365 x AUM is applied for direct. 1% lesser everyday, which can be substantial over time. Yes growth rate for stocks is same, but the cost is higher for regular.
Hi Nithin Kamath,
I saw the video (would see it again to see if I get my answer), but still, I am not able to understand the difference in RoI. As far as I am buying on NAV and selling on NAV, and growth is same for Regular & Direct NAV how does it matter in which fund I invest as RoI would be same.
For example, in the calculation/illustration, which I shared earlier, with Rs 15,000 invest I make the same amount Rs 18750, (after 3 years, 25% growth). Is there anything wrong in the calculation? Can you explain with an illustration?
Also, I understand that cost is higher for regular but what about RoI, Isn’t it the same?
I had answered this earlier, check this.
Dear Nitin,
I read all the material avialble at https://zerodha.com/varsity/ . Please provide the some material for mutual fund to understand this product. i am new to MF.
Dear nitin,
I want to invest around lumpsum 75k in MF. My question is that whether zerodha provding lumpsum MF investment or only we can SIP on montly basis.
Of course you can do lumpsum also.
A very basic question , let say If a purchase an MF having NAV of 100 ,then in direct case I’ll get it at 100 and in indirect case I’ll get it at 101.5 (1.5% ).
Does it mean something like this ? Please describe in detail.
Not really. Direct and Regular are two different plans which will be at two different NAV’s. You can’t really coorelate each other. After buying direct, everyday the expense ratio will upto 1% lesser than regular.
Hi Nithin,
I’ve been a investor for over 15 years in MFs (I am global digital exec, investor and follower of fintech platforms across the globe). I invest a reasonable chunk of money into MF and have being doing Direct Plan on AMC websites. Questions:
1. Lets say I invest Rs 50 lacs / year into MFs through SIP, if I hold all that money in Zerodha account, I lose out of valuable interest. What do you suggest?
2. On AMC websites, I do STP (from Liquid Fund to Equity MF). Zerodha does not have this STP option. What do you suggest?
3. Whats the best way to transfer from AMC to Zerodha. Do I go to my 5 AMCs and STOP all STPs…and then ask them to move the Units to Zerodha Coin? (however some Liquid funds are not there in Zerodha, so I will have to do redemption on their website…this is a sizeable amount…and I will pay STCG)
4. SIP Frequency: do you plan to offer Daily frequency or twice a week at least?
Thanks,
Krish Seshadri
1.You can buy liquidbees on the exchange (fixed income instrument). Whenever you decide to buy MF, you can sell this and buy. We charge nothing on delivery trades, so the liquid bees trade won’t cost you anything.
2. You can use the same thing I have mentioned above. Exit liquid bees whenever you wish and buy Equity MF.
3. Best way would be to ask AMC to credit these MF in demat form. The ones which arent’ available on coin, will be an issue. Maybe you can hold off on that.
4. Currently not possible. But adding it to our list.
Dear Nithin & team,
wonderful work doing by Zerodha team.
Hi All,
1. I have invested in regular plan (ELSS) for a period of just 8 months now, can i redeem that and reinvest in direct plan.
2. After investing 25000 its said 50 per month, is it 50 per month compulsory even if i don’t invest in a month. i.e. if i’m investing 10k for 3 months and then i plan to invest in a gap of 4 months later, So will i be charged for that 4 months too.
1. ELSS you can’t redeem until 3 years. You can start the new SIP in direct and stop old one.
2. Yes it is Rs 50/month even if you haven’t added.
Hi,
As per this thread ,if my investment in direct MF reaches to 25k in any manner you’ll start charging 50 INR per month.So does it mean that If I sell MFs and in a way my investment reached below 25k ,you will stop charging subscription fee ?
Many Thanks,
Kamal
Once you have crossed investments of 25k, Rs 50 is charged until you exit all direct MF and unsubscribe from Coin.
Very quick response (For no other service we receive such quick response).Thank you so much for clarification .But that is very unfair that you keep charging even if at particular time investment is less than 25k.
i have a trading/demat account with HDFCSEC. HDFCSEC also has the provision for buying direct plan mutul funds. what’ s the additional benefit zerodha is providing?
Hmm.. I don’t think HDFCSEC has direct mutual funds, what they sell is distributor. Check the link given of mutual fund distributor commissions, HDFC bank+sec is one of the biggest.
Hi,
Me & my spouse has an Trading account with Zerodha and Demat Account can be opened jointly (currently we have with IL&FS). Whether with one Demat Account we can have our Mutual funds schemes in Demat form with our individual names ?
Regards
Murugappan
Hi,
For investments in mutual funds through our COIN platform, you are required to have our Zerodha’s demat account (CDSL) and not IL&FS(NSDL). You can open a joint demat account for the investments to reflect under both the names.
Hi Faisal,
Yes I am in the phase of opening the Deamt Account with Zerodha. My question here is once I open one Demat A/c with our joint names can we invest in MF with same demat account with our individual names ? Also I am planning to invest in minor child with my spouse as the guardian whether even that can be handled with the same Demat A/c
Regards
Murugappan
1) If you are opening a joint account then the investments will also be mapped under both the names, but the 1st holder will be given preference in the scenario where you have invested in ELSS funds and need to claim tax benefits.
2) Minor accounts not as of now.
Hey – When would you guys start an automated investment (robo-advisory) platform? Missing the re-balancing feature made available by conventional advisers. Not aware of a Mutual Fund platform in India that provides re-balancing. Its long overdue.
Hi,
I recently started investing in direct mutual funds in early 2017 and have 5 funds with lump-sum investment now worth around 2.7lac. I want to invest more through SIP and lump-sum in next few weeks. So basically my question is can i transfer my old investments in MF to Coin platform without selling them and repurchasing them here? Since it will be more convenient for me. If i have to track those 5 funds separately, it wont make a huge difference signing up for Coin.
Also if i want to add a second account holder to the fund, do i have to get that person to sign up with Zerodha and will both of us pay the monthly 50rs charges even though it is the same fund and I am the first holder?
Regards,
Rohit T S Netravalkar
Yes you can take a payout of your old direct MF in demat form. If your account has a joint holder, you will continue having only one trading account with us, so only one Rs 50.
Hi,
I am a long time investor of Funds India and investing 25000 Per month in SIP in various Mutual Funds under my Spouse and two childrens name. So I do have three portfolios one under my spouse name and other two portfolios under my children’s name and my spouse is the guardian for those two portfolios. So kindly let me know whether I could able to operate in the same way through Demat ? Also confirm all can be under one Account or I should create three accounts and pay 600 per year for each account ?
Yes, you can do the same with us. You will need three separate accounts.
Hi Mr Nithin and the Coin Team
Requesting you to introduce new Menu in the COIN website, so that one can isolate ELSS and other type/s of MF invested through COIN.
Thanks in advance.
In your portfolio view is it?
Yes Sir. You are right.
Hi Mr Nithin and the Coin Team
Kindly clarify:
1. Purchase of ETF – Will it be on Coin Platform or treated like any other equity purchase through Kite ?
2. Sale / Redemption of ETF units: In one of the posts (7th April 17) Mr Faisal has referred to some restrictions. What are they ? Please elaborate.
Thanks
1. ETF is like trading stocks.
2. If you are buying ETF’s, it is exactly like trading stocks. No restrictions.
hello, team zerodha.coin
I just want to know that, suppose I invest rs 1lakh in MF as a lump sum and then I leave it for 5 years. so I need to pay rs only for the month I did the transaction or, I need to pay 50x12x5= rs3000.
Hi Nithin,
I am a new customer of Zerodha, coin etc. . Recently I took interest in buying Mutual Funds and bought some with ICICI direct online but after my friends suggestion, I stopped these all regular Mutual funds and planned to purchase the same from your platform.
I appreciate that your this post is making transparency with customers, but after reviewing your this post I have few doubts and if you can clear my doubts considering I am a novice about your monthly and yearly charges then I would appreciate the same and can invest more and more.
Qus 1- Suppose I purchased an SIP “ABC” of 1000 Rs. per month which will became 12000 Rs after the end of 1 year. And 24000 after end of 2nd year. So will you start costing/charging me 50Rs. per month after 2 years onwards?
Qus 2- Suppose I purchased few SIP XYZ1, XYZ2, XYZ3 by investing 2000Rs., 1000Rs., 2000Rs.. Hence total investment in 1 month will be 5000Rs.. Hence after 4 months total investment will be 20,000Rs. and after 5 months total investment will be 25000Rs.. So do you start costing/charging me 50Rs. per month after 5th months onwards untill I stop/cancel the SIP?
Please answer as I need to purchase the MF SIP asap.
Sanjay,
1 & 2) Yes, Once you cross 25,000 you’ll be charged Rs. 50 per month.
Hi, When is DSP BR Micro Cap Fund coming in direct, it is there in regular.
Ashok, DSP BlackRock Microcap has stopped accepting funds. So they are not available for fresh investment anywhere.
oh okay, but I am able to see SIP option in regular with installment of 1000.
Hi Venu,
50 Rupees per month for NRI too..?
-sarad
Hi Sarad,
Currently, Mutual Funds aren’t available for NRI’s. This could take some time.
This is great product and initiative. I believe, 50 INR per month (after 25K) is fair charge. If you open MF investment account with leading private banks they usually charge 150-200 per quarter and you don’t have access to direct MF plans.
This will click with investors gradually as they appreciate the benefits
If you Open a account in CAMSonline or MFUTILITY or Related AMCs…..you don’t need any paisa for fees or charges….and DIRECT Funds also available…..so why anyone pay fees 50rs Per month for ZERODHA COIN..
I believe COIN Platform is not useful as better as MFUTILITY or CAMS Platform
Veer, Check this to know why Coin is better.
Hello Nithin,
Could you please me understand the benefits I may have if I go with Zerodha as compared to MFUtilties or CAMSonline.?
and also the disadvantages of CAMSOnline or MFUtilities as compared to Zerodha?
Thanks to provide a good insight.
Hi Prashant,
Request you go through this link
Hello,
I want to invest in Mirae Asset Emerging Bluechip Fund – Growth.
How can I start a SIP in this fund. It is not listed in the list but when I search on google I get this link:
https://coin.zerodha.com/funds/14055677.00206600/mirae-asset-emerging-bluechip-fund
And the same goes for SBI BlueChip Fund
Please Help.
Jaspreet,
The one that you’re looking at is the Non-direct (regular) Fund. If you check under Scheme type it shows as Non-direct plan. The AMC themselves haven’t listed certain funds, this hopefully will happen soon.
Hi, I have started SIP of Kotak Select Focus Fund – Direct Plan with 3000. I had transferred 10,000 initially in equity fund. But 20.70 rs cut from fund, what is the charge of it?
NItin, thanks for a much-needed, much-awaited service for long term investors.
However, the platform approach seems to be be entirely Equity / Trading oriented which causes confusions for MF customers. Here are a few examples…
1. The balance available in the a/c does not reflect live in Coin, only eod
2. The label in Coin reads Equity balance, not MF (or Opening) balance
3. The margin used in Kite also does not reflect orders already placed on Coin which can lead to orders (on Kite/Coin) falling short of the funds needed
I’ve also suggested these through your call center. Hope to see it live soon…
Yes Naveen, all on our list of things to do.
Dear Nitin,
Thanks for such type of platform for common man like us. However, it is not clear for me why “Mirae Asset Emerging Bluechip fund” has not been considered in the list of direct mutual funds though most of the funds of that AMC are allowed to buy for direct option.
Further, you are requested to empanelled fund houses like Sundaram, Franklin etc.
The AMC themselves haven’t listed certain funds, nothing much we can do. We are following up with the AMC’s to list them. Franklin will hopefully happen soon.
in case, there is no investment made in a particular month still 50 Rs will b deducted? If overall invsmt is more than 25000?
Nitin,
Yes, it’ll still be charged even if you haven’t made any investment that particular month.
It’s charged at Rs.50/month once you cross the 25,000 investment limit.
Dear Sir,
Thank you for such a wonderful efforts.
I just opened one SIP and i understood that the amount would be deducted from the trading account to fulfill the SIP’s.
I would be happy if you have an option like fund transfer to MF account instead to Equity – trading account so in that way my sip amount is blocked only for MF and equity trading.
Thank you.
When i tried to login to coin it says below message..
Permissions required by this app
Access holdings and positions portfolio – Why this is required?
View your account balance and margins – It’s fine
Place, modify, and cancel orders – Why we allow this? to modify cancel etc for my existing order/Portfolio?
Ajay, these are standard set of confirmations we take for all apps using Kite connect API’s (Smallcase and Balance). Balance uses it only for login/authentication, and for firing mutual fund orders everytime you save.
When we will expect SIP amount will deducted directly from bank account? Because currently Zerodha is charging around RS 11 rupees per transaction..So it’s not possible we pay RS11 extra every month..
You can transfer using NEFT/IMPS to your trading account. We don’t charge any.
Is the 25000 limit counted on transactions or holding?
Like if i cross 25000 and then reduce the investment to below 25000, will I be still charged? Just trying to understand the concept
It is on transactions, once you exceed 25k, the charges gets applicable.
I see the cutoff time is 1:30PM. However the actual cutoff time in AMCs is 3PM. Why 1.5 Hr difference. Will it be reduced going forward?
Since, we are using BSE STAR MF as our backend system we have kept the cut-off time as 1:30 on COIN just to rectify any operational issues which could occur while routing the orders through their system. Also, there are other orders for 2 Lakhs and above for which the balance needs to be checked before 2 pm in the client’s trading account. So, for all such reasons the cut – off time on COIN is 1:30 pm.
I can see Franklin templaton funds (direct) in BSE Star but these are not available in the coin. Could you please through some light on this.
They are showing up on BSE, but transactions not enabled.
Hi,
I have few queries before go ahead.
1. RS 50/Month will be charged after total investment greater than 25K right?
2.After read above conversation it seems there is AMC charges as well i.e RS 300/Year. If i have already dmat account with zerodha and i am already paying this charges.. so do we need pay this additional charges?
3. Is there any other charges while redeem?
1. Yes
2. That is for demat, you can use it for buying stocks as well. If you already have demat, no other charge.
3. DP charge is Rs 5.5 charged by CDSL for every debit/redeem instruction.
Hi..Newly joined zerodha in April…. good initiatives… couple of quick questions…
1) I am right now holding free cash in the account to satisfy margin requirements for intraday trading. If i move this to a liquid MMfund via COIN, can I use that as margin cash? If not
2) please let me know where I can park the cash which also can be used for satisfying margin req
3) When will the QUANT be replaced? all i see is a message that it has been deprecated. I need to see and analyse atleast basic view of where my profits or losses are coming from
1. No
2. You can buy liquidbees and pledge that.
3. We are working on it.
Hello,
I’m looking for the below funds in Direct mode.
1. SBI Bluechip-G
2. Franklin India Prima Plus-G
Last month i called customer care & i was told that the above funds will be available in Direct mode from next month on wards. Still didn’t find these funds.
Can you clarify by when these funds will be available in direct mode ?
Regards,
Hima Pallela
Hima,these AMC’s have to list these funds under direct/demat on BSE star MF. Until they do, we can’t offer. We are following up with them.
Also pls clarify if we opt for SIP then how the SIP amount will be automatically get deducted from the bank account?
is there any separate form to be filled for the same?
Currently, the SIP gets debited from your trading account and not bank account. You can click this link to understand more about it.
Currently we don’t support SIP deducted from bank. You will have to transfer to trading account before SIP date, we send a SMS reminding.
hi Nithin, will we get an view of consolidated MF ivestments with Av purchase price & current values?
Hi,
Yes you can view such details in your portfolio window.
Yes.
The listing of funds in Coin platform is just plain. There should be some option to filter and sort funds based on different criteria. Suppose I want to see only liquid funds, there is no option. Also if I want to sort the funds based on 1 year return, I can’t do that.
Yep, we will have a screener in the next few weeks.
The initiative appears good. Just wanted to understand how would investing through Coin platform be different than using the Funds’ websites wherein I can make investments directly? The only downside I can gather is that the units wouldn’t be in demat form.
If you want to invest in a direct mutual fund scheme of any AMC then you would have to open an account with each AMC and track your portfolio separately on each website. On COIN, you can invest and track your investments on one platform across all AMCs with a single account.
Aren’t you trying to conceal facts when you see that user will have to open account with every AMC. Isn’t mfutility for same purpose? 🙂 I am investing through mfutility and must say its a good platform for direct investments, only downside being that it doesn’t provide great charts as well as details PnL statements.
Ashustosh, MF investments on Coin is in demat mode, so it is almost exactly like buying stocks. Folio #’s etc is insignificant.
I have opened my Pvt Ltd firm account with Zerodha. Can I buy any mutual fund available on Zerodha or is there any kind of restriction for a Pvt Ltd firm?
Currently, no but corporate accounts will be enabled in a few days on COIN.
Thank you for the response Faisal. So that means I can’t buy any mutual fund on Coin as of now. Will it be active within this month?
No, as of now you cannot purchase. We will try to get it enabled by this month for such accounts.
Can I (as Pvt. Ltd.) buy ETF on Kite?
Hi nithin,
Good initiative, saving our lumpsump money as brokerage from other distributor, We are looking for more mutual fund be to added in future like Franklin india high growth etc. I will spread about as much as possible to save money of my friends , family member who are paying 1.5% commission as brokerage.
Do you also provide advice on what mutual funds I should have in my portfolio or is it like that you are just providing a platform for all my funds and all the investment related decision I have to take it by my own?
And the total charge that I have to give annually is like 50*12 plus 300/- for Annual Maintenance of the account?
It is an execution platform only. No advisory. Yes, charges are right.
Hi,
I would like to invest in Direct MF and do not hold any accounts (brokerage & Demat).
Can I invest through Coin? what will be the charges for NRIS (to open brokerage & Demat and maintenance)
thanks,
Chidananda
We sell only in demat form. Account opening is Rs 500 and Rs 300 per year is AMC for demat.
Hello Nithin,
This is relevant to me as well.
1) Can NRIs invest in all the MFs in Coin platform. Is there any additional documentation, etc required??
2) Can Zerodha share the list of MFs available in Coin? And the list of MFs planned to be available in Coin.
Regards,
Mahesh
Hi Mahesh,
1) Currently, the platform is not enabled for NRIs to invest but we are working on this. There a couple back end processes and compliance procedures that needs to be sorted out for NRI investments in mutual funds.
2) You can click on this link to view the list of AMCs available on our platform. Schemes of HDFC, SBI, Franklin and Sundaram will be available in a few days.
Hi,
Thanks for your replay.
Any timelines to enable coin for nri’s.
Will zerodha takes care of KYC process.
Thanks,
CD
Hi,
Yes, we will take care of the KYC process once the platform is enabled for NRIs also. It might take a couple of months.
Hi Faisal,
We are waiting for timeline.
For KYC, NRI have to come to India once?
Regards,
Mahesh
We are debiting the trading account for all the mutual fund investments done through COIN. NRIs have to route their money via the PIS account which then gets reflected in your trading account with us. The problem is that as per compliance, the money routed via the PIS account cannot be utilized for investments in mutual funds. So, we are trying to figure out a way to resolve this problem.
For KYC, you can either get your documents attested from the Indian embassy in the country of your residence or you can come here and submit the documents in person.
Hi Faisal,
any updates.
any timeline to enable NRI’s on coin platform?
thanks,
Chidananda
I’d say another 4 weeks.
Nitin,
Any updates to enable NRI’s on Coin.
Thanks
Hi Chidananda,
We are still working on this, it should be available in a month or two. We will intimate you once this is done.
Any updates?
Hi zerodha team,
Are we enabling NRI’s on this flatform? If not then I will try to find other option. It’s been pending for more than 6months.
We are working on enabling NRIs on Coin.
Faisal bhai,
Assalamalekum,
Kab chaloo karoge finally NRI ke liye?
Regards,
Mahesh
Any updates for NRI’s?
its been a long wait (10+ months).
Please keep posted on this. I am sure many of the NRI’s interested in your platform.
Any updates?
Dear Nitin,
NAV already factors in the expense ratio.
Why should anyone be then bothered about it? Please explain.
http://www.business-standard.com/article/markets/nav-is-calculated-after-expense-ratio-108062201039_1.html
Expense ratio for regular funds are much higher than direct funds. Hence you have to be bothered. Check this.
lets say I invest Rs 1000. Nav is 10. As per the business-standard article I have shared, I get 100 units.
But you mean I get less than 100 units?
So, with Direct fund I will get may be 99.5 units. And with regular I will get probably 99 units?
Hmm.. assume you invest Rs 1000 in a regular with expense ratio of 2.5 and Rs 1000 in the same in direct option with expense 1.5. Everyday 2.5%/365 days will deducted from your regular, 1%/365 will be deducted form direct because expense ratio is lesser. That means over the year if this fund gave 15% as returns in direct, it will give only 14% in regular.
Hello Nithin,
Since the expense ratios are already accounted for in the fund NAVs, are all funds having 2 different NAV quotes?
I expect Direct fund to have a higher NAV than the regular one.
Regards,
Vijay
That’s right. Explained here in more detail.
I am currently having a weekly SIP of Rs.2000 through zerodha for HDFC Balanced Fund – Regular Plan – Dividend.
I wanted to go for HDFC Balanced Fund – Direct Plan – Dividend but not able to find it. I can see only Growth plan. Can you let me know when HDFC Balanced Fund – Direct Plan – Dividend would be added to COIN
We’re working with BSE StAR to have these funds enabled on the direct platform. Should be done with some time.
Can I do daily SIP of say Rs. 200/day and increase the amount on those days when markets are down?
Yes
I don’t see daily SIP option in COIN. What you mean by YES?
Ah looks like a Yes for another question got posted. Yes, currently not possible.
Dear Mr Nithin,
Pls clarify my below a real time scenario to clear doubts of many others like me…
One time Investment of 75K done by me in one of the MF (Not ELSS) on 05 Apr 17 through an agent.
1. Hope the agent would gain an upfront charge of 1% (Rs.750) + Rs 100 Transnational charges by this. (Total – 850/-)
2. Next year the agent would gain an amount of Rs. 862.50/- (If 75 K grows @15%)
3. If right now i redeem this and join Zerodha coin i will be losing Rs 750 (1% exit load) + Rs 600/- (1 year fee for Zerodha coin)
4. So it is better to wait for 1 year to avoid the 1% exit load and then invest the amount in Zerodha coin……???!!!
Thanks in advance ….
1. Yes
2. Yes (can be less or more slightly based on the fund)
3/4. If there is an exit load, it makes sense to wait and not redeem. But if there is no exit load, mutual funds charge expense ratio daily on the AUM. So everyday more money will get deducted if regular plan. Check this.
But Nitin, why not Zerodha itself starts a mutual fund without any management fees, which itself is a substantial. Because in present format, only the commission to distributor is eliminated, not the fund management fees charged by AMC. If you start a mutual fund with nominal fixed management fees, I would like to be your first customer.
🙂 one step at a time.
If there is a dividend given for a fund, do you also track and show as part of your dashboard?
Not currently, we are planning to in future.
Can you also add the “Annualized Returns” along with absolute “P&L” ?
Annualized of your investments?
Yes, if i keep doing the SIP over an period of year. the absolute profit is given by P&L in dashboard. But i don’t want to track outside to get more info related to Annualized returns/CAGR returns of my investment.
It would be very helpful to show the Annualized returns/CAGR returns columns along with existing columns in coin.
getting XIRR for every SIP would be ideal (like that I currently get on the AMC website itself). Else one would have to plug in all the SIP data into Excel sheet and compute yourself
Dear Nitin,
I have 8 AMC’s which I have subscribed to over the last decade , just wanted to clear myself what will be the difference between having SIP with ‘DIRECT’ options while subscribing to the fund house and with ‘Zerodha Coin Account’ apart from demat form,
I have explained it here.
Hi,
I have recommended below product to my brother and he want to open only mutual fund account. Please clarify following doubt related to Zerodha Coin account.
1) Is it possible to open only coin account without demate account.
2) Do you have ECS option?
3) If suppose something unexpected happens to Zerodha what will happen to the Mutual funds in Coin account?
Is following fund good to start with
1) Kotak Select Focus Fund
2) DSPBR Small & Mid Cap Fund-Reg
3) Axis Long Term Equity Fund
4) SBI Bluechip Fund
Thanks,
Shodhan Kini
1. No
2. Not currently. All SIP debits happen from trading. But we are looking at starting this.
3. All mutual fund units sit in your demat account with depository (CDSl). Nothing can affect that.
Ah, don’t track those funds and we kinda avoid advising.
Hi
I already have an account with http://www.invezta.com and been using them for now last 6 months, i already invested around 50k every month in SIP and at time whenever market is down some lumpsum in existing SIPs.
I already have 6 years free subscription because already referred 2 friends of mine using it. Give me the reason why I should invest using COIN. I already using Zerodha demat account and kite.
From here:
Easy SIP, start stop whenever you want without any NACH requirement. Increase or decrease SIP values at will.
NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
MF in demat form and hence fungible. Extremely easy to pledge and take a loan against in case of emergency.
Single capital gain statement, P&L, visualizations, and more.
MF or stocks in demat are much easier to claim by dependents (nominee of demat) in the case of death. Direct plans with multiple AMC’s would mean multiple folios, difficult to aggregate and claim.
Sir,. I read in some articles that Pakistan share market also doing better. Is there any mutual fund investing in Pakistan share market. If yes, please include the same in Coin for investing.
Thank you.
None currently.
Thanks for saying NO and though its emotional if any of the Mutual fund invest in any of the Pakistan based company I will never buy that mutual fund and even a brokerage house promoting it will be in negative list and will prefer any brokerage house even if they charge higher brokerage.
Hi Nithin,
Is there a timeline, by when we can expect Franklin Tempelton and some of the other funds like, HDFC mid Cap oppurtunities fund, onto the Coin platform? Want to switch over to Direct funds, from Regular funds. But these funds are missing.
Thanks
Nagaraja
We are plugged into BSE Star MF platform. Unless these funds lists there, we can’t offer. All the funds that are listed on starmf in direct, is available on coin.
Thanks for the reply. I searched on BSE website in the following URL: http://www.bseindia.com/Static/Markets/MutualFunds/listOfAmc.aspx?expandable=1 .
The URL shows AMCs like Franklin, and others under BSE StarMF site. Also, under HDFC it has list of many funds, including HDFC Mid Cap oppurtunities. Is this different than the platform what you are using? just trying to understand it.
Regards
Yep, they are available as regular plans with us as well. They still don’t have direct MF in demat mode on this yet.
Hi Team,
Just one question, if I will setup a SIP either regular or direct fund, it will take the money from my Zerodha cash or it can directly deduct from my linked bank A/C?
If I dont have sufficient cash in Zerodha on the date of SIP, what will happen?
If Zerodha cash can only fund for the SIP, then the process is inconvenient as it kills one of the intention of setting up a SIP as it needs manual funding every time.
Zerodha cash. The day before SIP, we remind you to transfer money to Zerodha cash. If no cash, the SIP doesn’t go through for that month.
This process is a manual one. Getting reminder, funding Zerodha and SIP deduction from Zerodha cash.
Like other service providers, can’t you link the SIP funding to the mapped bank A/C?
Almost all service provider who provides the MF and SIP services, they have this feature.
For me as a service user and I am investing in MF through SIP method for more than 5 years using different distributors and this auto deduct from bank ac feature is utmost priority. Just conveying my view.
I dont want my SIP to be hold or missed just because I missed a reminder or I forgot to fund Zerodha cash.
I think there might be many users who has the same view.
Even the Fund houses are deducting from bank ac automatically through ECS mandate for SIP in all kind of funds including direct. Then why can’t Zerodha?
Zerodha coin is all good but I will wait till this feature implemented before start investing through this platform.
Yes, on our list to do next. We would essentially manually need to get a ECS/NACH mandate from you and submit to your banks.
Hi Nithin,
There is way to do payment without ECS / NACH physical letter. We can add in bill payment section, we need biller id for zerodha and bills sent every month for autopay. Can you please explore if this method works for you? One of mutual fund platform has done it recently.
We have tried. Only AMC’s are allowed apparently. Which MF platform are you talking about.
Was just browsing to know about the possibilities of direct billing from the account.
However, you are right, only AMCs are allowed currently.
Is there any regulation that’s limiting Zerodha from getting into the list of billers or can you partner with banks to get featured in the biller list?
ECS/NACH mandate will be quite cumbersome for many people in this click-to-transact age.
One more problem of mine is add fund feature as every time I end up paying 10.2 rs , while in my current MF SIP it is direct debit from my icici account. So can you look for getting an ECS mandate of upto 50k. Which will ease out our MF investment.
Yes, on our list of things to do. Btw, you can do an IMPS as well to avoid payment gateway charges. https://zerodha.com/fund-transfer
Dear Sir,
IMPS is still chargeable from Banks. It costs somewhere around Rs. 6 + ST/-. Can you bring down that no gateway charges are applicable for amount more than Rs. 10000/- (Rupees Ten Thousands ) or more are paid in.
Please take this as feedback and explore the opportunity.
regards
bhushan
Pls bring ‘Franklin India Smaller Companies’ under your coin umbrella
Hi Nitin,
When can we expect robo advisory in Coin as currently there are 4-5 direct MF platform and they provide that advisory services too within 600 rs cost.
Regards,
Amit Agrawal
Hmm.. can’t think of anyone at Rs 600 per year. Anyways, a business has to earn to remain relevant. Advisory, no near term plans.
Hi,
Can we pledge the MF units invested through Coin ? If yes, some details on how to go about doing the same….
Not possible yet.
Coin platform will not be beneficial to small investor who want to invest small amount every month i.e. 1000/month. As per direct MF charge on coin platform, investment of 12000 will be charged at 600/year and if i rather invest in MF through distributors, it will be charged only 120/year at 1%. Is it so, or i am misunderstanding it?
Zerodha charges fixed amount of 600/year irrespective of the total amount that u have invested…and that too is applicable only after your total investment crosses 25000…..not before that.
As per your example of 1000/month…no charges is applicable until you are into the 25th month. After this the charges of 50/month becomes applicable…so at the end of the 3rd year you will pay 600 as coin charges on an investment of 36000……at the end of 4th year 600 as charges on an investment of 48000…….like that at the end of 10th year u will still be charged only 600 on total investment of 120000……so the advantage is that as your total investment increases year after year the charges as a percentage of your total investment becomes less and less.
But in the case of distributors u pay the % commission on the total amount that you have invested….means it increases every year along with your total investment
is 120 on the total investment of 12000 for the first year…240 on the total investment of 24000 for the second year…….1200 on a total investment of 120000 at the end of 10th year
In a nut shell u pay 600×8=4800 as coin charges for Zerodha and 120+240+360+480+600+720+840+960+1080+1200=6600 as commissions for distributors
So higher the amount greater the benefits through coin
Anand, if you are a small investor, the first 25000 rupees of investment is free. So for 2 years you won’t pay anything. Once you exceed Rs 25000, this Rs50 is applicable. Also at that time Rs 50/month is on an investment of Rs 25000. If you don’t think it is right for you, you can still invest using regular plans by clicking here.
Hi Nitin,
First of all, thanks for starting the Coin, which gives platform to invest in Direct Mutual Fund.
However, I would like to recommend that, in the order history, you should add couple of more fields.
1. The NAV price at which this order was executed
2. Number of Units allocated
These should be part of any standard order entry. I’m not sure, why you are not showing this. You have this information for sure. But, add this into the history display. This will serve for many purposes, like verifying it, exporting it to excel and create reports as per need, how the average purchase price is varying, etc.
Please include these fields, at the earliest. There are some other improvements you can do in SIP, but, they are good to have. Will wait for some of these basic things to get implemented and other AMCs to be listed and other funds in the existing AMCs to be listed.
Thanks again for starting Coin.
Regards
Nagaraja
Nagaraja, forwarding this to our team.
These fields you asked for on the report is added. Do check it out.
Perfect.. So far i was maintaining this record in my private excel sheet 🙂
It would be good to add daily rise/fall percentage also along with these fields. All in one place. From a user perspective, I have to navigate to individual funds to see whether it’s up or down and then again come back to dashboard. Just think the same for around 10 funds. 10 times back and forth. It would really be good from end user point of view , if a single interface serves the entire purpose. Just a thought to make the interface more user friendly.
Makes sense, let me see what we can do about this.
This is done. Let me know if you need anything else.
Not able to co-relate on the coin interface. Still the rise/fall fields are not showing in my coin account !!
The raise/fall in % is shown under Portfolio and current NAV- the % change u see is the NAV change for the day.
Yep its there !!
Thanks for quick response time. Loving the way Zerodha is simplifying the trading process 🙂
Hi Nithin,
I did checked it today. Great, I can see these fields. that was quick turnaround from Zeordha team. Appreciate it.
Also, have the team introduce “Download” option in the order history, so that the same can be saved as Excel/CSV file.
Regards
Nagaraja
Hi Nithin and Zerodha team,
Thanks for adding the export to CSV button in the order history form. This is great and thanks for taking care of these requests with no time.
Appreciate it…
Thanks
Nagaraja
Excited and waiting for the Crux lets see venu if it can meet all the expectations.Good Luck.
Hi Kamath
I am new to Zerodha platform.
I purchased couple of MFs on Coin two days ago. These orders are still pending. How long does it take to execute on orders on Coin?
Best
Pranav
You placed the order on 20th at 2:49 pm, post the cut-off time of 1:30 pm. Your order was processed today and you’ll receive allotment on Monday.
Orders placed before 1:30 pm get processed the same day.
Hi,
can you display the cut off time at the order window screen.
This will help to know the customers that when their order will be processed.
Hi Nitin, As per SEBI instruction now NSDL /CDSL monthly statement reflects amount of money paid to distributor. Last month i have received monthly statement for my investment and i was surprised to see hefty commission paid to my distributor (for 50000 investment they have given 2324 rs to my distributor.) Its almost 5% of my investment. Thanks to SEBI for initiative. Now i want to switch to Zerodha for Direct MF. I already have Demat/ trading account with Zerodha. I want to know both Pros and cons of holding mutual fund in Demat format especially focus on CONS (disadvantages). Hope you will be transparent to give Cons.
This post has all the information you need. You can also check out this video.
If you already have a demat account, I can’t think of any cons because you would have to pay AMC charges anyways. By buying Mutual funds in demat mode, you get the benefit of managing all your portfolio in a single place. It also provides you the convenience of redeeming mutual funds at the click of a button, without having to fill redemption slips. But then, there’s also a vested interest in me suggesting you to go the demat way 🙂
Hi Nithin and Venu,
I am not receiving contract notes for my CFX position since 11 April. Despite repeated emails to your support team, I am not even receiving any reply.
Why is this so? I think you have got this request from multiple users even before—> Please upgrade your support team.. they are not at all responsive… this belittles the trust we place in Zerodha…..
What we email is a Common contract note which carries your trades across all segments. I’ll get someone to check this and revert to you.
Does this platform allow to buy all mutual funds available in the market?
I could not find Mirae Emerging Bluechip Fund (G) in the list provided by COIN.
Hi Narendra,
There are 2 ways in which the AMC accepts the investments. One is Lumpsum and the other is SIP.
The lumpsum consists of 2 fields, first is the ‘ Initial minimum investment amount ‘ and second is ‘ Minimum additional purchase amount ‘.
When you wish to invest via SIP, then you need to register for it via a ECS/NACH mandate form wherein the amount is always debited from your bank account on some specific dates.
Now, we have made a custom SIP where the installment amount is actually the ‘ Minimum additional purchase ‘ which is a part of Lumpsum investment. This is the reason you have the flexibility to modify/pause/delete your SIP and the amount is debited from your trading account.
In the conventional SIP, if you wish to modify the amount then again a new physical request form has to be submitted to the AMC. Also, if at any point of time there is less balance in your bank account on the day the installment amount has to be debited, then the bank will penalize you. But, in our case you will just receive a notification saying that your order has failed due to insufficient balance. Then, you can just open the fund page and place a order again for the same amount after you have transferred the money on any day.
Unfortunately, Mirae Asset has stopped the investment via Lumpsum so we do not show the fund on our platform.
https://coin.zerodha.com/funds These are the funds that you can buy using the Direct platform. We’re working on getting more AMC’s onboard.
Hi Nitin i m a happy customer of zerodha for trading & demat as well as investments in direct plans of MFs via coin platform i have some suggestions if thats ok I will proceed ,nitin since i have started with coin for direct MFs investments its a bit more effort taking to monitor and transact for mutual funds by logging in on different platforms or using the same by accessing through q-back office..it would serve a great comfort if l transactions for mutual funds and monitoring is patched in kite desktop & androind app and showing holding,valuations,current value ,P&L,and the trading platform could have features that as similar of MoneyControl app,including forums,messages from investors and many ,would like you to go through moneycontrol app for once and if compiling or including MF if difficult would request to bring bring an andoird app for MF investments and also pleasure include online option for adding of more bank accounts instead of offline.I would be a great leisure for us investors if something i mentioned could be intiated and executed.would love to see zerodha rise.
We’re working on making this happen through Crux, our new backoffice slated to launch soon.
Nithin,
Do you guys levy service charge 15% on the 50/month Subscription Fee?
Is there a service charge for Demat A/C also?
If yes, then total cost is 690 /yr for Coin and 345 for Demat – Making 1035/yr as total cost for customers using Zeroda.
All your website footers and other charges pages do not tell this clearly. May be you should make this upfront that Coin charges will attract service charges as well?
Getting the same added to the site, the demat tariff sheet already states that Service tax will be levied.
Hello,
I have already a D mat with zerodha. If i open COIN account also, in next 25 years i will pay 300+600*25=22500 Rs to ZERODHA as AMC for any amount invested.
Am i correct
I’m glad you’re thinking that far 🙂 Yes, if all factors including inflation remains same, you’ll be paying Rs.22500 as AMC+Subscription charges.
Hello
Is there a way I can shift my existing MF portfolio to a direct one?
No, you can’t shift.
hi Nithin,
you are doing a good job @ZERODHA,
one question : why is it required to open a demat with Zerodha for mutual funds?
it dose not make any difference if it is ifls demat or Zerodha demat as long as the POA is with Zerodha.
thanking you,
regards,
kishore kumar.
Zerodha opens Demat accounts with CDSL, ILFS did it with NSDL. When you sell Mutual funds, we’ve to debit them. The file formats for uploading debit instructions to each of these depositories is different. Right now, the system is designed only to cater to the CDSL systems.
ok.
hope you guys start mutual funds for ilfs (nsdl) demat too.
will be happy to invest.
thanks.
@Nithin/ Venu
Can you people let us know how one can define weather you invested in direct MF or regular MF.
As an end user I won’t be getting the Direct or the Regular key word when I look into my statement, is it only Price that defines it. Apart from your investment page where else we can get this expense % which is a key factor.
I have 3 ELSS funds in SIP, if I want to shift the same to Direct, Can I the regular one(mf.zerodha) and buy same funds from Direct (coin.zerodha) ?
Also would like to know if you are coming with some recommendation kind of page for all may bi a weekly one, which will help most of the investor who can’t concentrate on day to day Market business. Please think about it.
All direct funds will have the word ‘Direct’ in the funds name. Would help if you mentioned which statement are you looking at? It’s best to check the expense ratio and other details directly on the AMC’s website, you can refer to it on the Fact sheet. You can sell the regular ones and invest into direct, doing so may require you to pay exit load, if any.
Recommendations, we haven’t thought of yet since there are too many people advising where to invest 🙂
Mr. Venu,
I have 3 ELSS MF, which is locked for 3yrs, So can’t sell it.
can I move the current regular MF’s to Direct Plan.
No, shifting isn’t possible.
Hi Nithin,
I want to invest around Rs 1.5 crores in long term balance funds with divedened option.
I want to invest in top three balance mutual funds.
I will be getting approximately 1.5 lakhs in the month with divedened option.
Again I will be investing in SIP every month for long term.
This idea/investment will continue eternally.
With this INVESTMENT idea I will be getting the conditions below:
1) I do not have to pay any income TAX to govt.
2) There want be any exit loads charges.
3) divedened which I will be getting monthly is tax free.
4) I will be paying only your monthly Rs50/ charges.
Kindly comment/suggest above conditions.
Also for monthly SIP, auto debit from my account , at present this facility is not there.
Good many AMC updation require, many good ones are missings.
Thanking you,
Yours truly,
S.S.Pereira
Hi Nithin,
Financial advisors says that investing in direct mutual funds is a task of veterans and who has a sound knowledge in MF. To save few percent in investment of ten years, will not be fetching good results to beginners in direct MF. Could you please justify how coin is better, if i have already decided to invest in ELSS funds recommended by most of advisory online portals.
Another point is that, if some is investing less than 5000 per month in SIP..Rs 50 will not make them a difference between direct or regular.
Thank you in advance for your feedback and advise
Even when we were offering investments through Regular platform, we weren’t advising our clients. The kind of returns you make by investing in a direct fund over regular will are phenomenal; as explained in the above blog. You may take your advisory from an advisor and then invest in a direct fund.
So I tried calling zerodha. Mailed them an issue with the account on 6th april. Its been almost 2 weeks now and I have yet not receieved any reply. Sent two reminder mails regarding the same but no repsonse. Called the person who was in touch with me for account opening and for the account opening for my reference but no response again. Messaged him too. Tweeted to zerodha and Nitin both regarding mu issues but no one seems to care. Also, not yet recieved any contract note for trades taken on and after 13th april. Almost a week now. Raised a ticket for the same but no response. You guys are really making me regret my decision of choosing your brokerage firm just to save a few bucks on brokerage and also referring you to others. I will make sure not to refer you to any other person and find a better brokerage firm as soon as possible. The worst customer service ever. I hope this thing reaches people across all over and impacts you in the same way the positive word of mouth publicity did 🙂
Hi
What is the advantage of buying direct plans thru Coin rather than a RTA like Karvy or CAMS? Both these RTAs do not charge any amount for MF purchases.
Personally I’ve had a terrible experience trying to co-ordinate with RTA’s. A retail investor wouldn’t prefer to do so. Buying it through Zerodha gives you the convenience of having one consolidated portfolio of all your investments. Additionally, the kind of savings you will make by investing in a direct fund over a regular one far beats the nominal fee that you pay.
Did a first SIP of 500 rs.
* Icici prud.. value discovery -D
* Units I got -3.617
* Investment amount as shown in coin platform – 499.94
Q) why is my investment amount shown is 499.94 rs when I made a SIP of 500 ,are there any charges , am i missing something.
Client id -ZZ1775
There are no charges, the AMC allots units based on the NAV and rounds it off to the nearest decimal. 138.22 is the rate at which you’ve received allotment. 500/138.22 would mean you receive credit of 3.617 units which is in your demat account.
When will the Franklin and SBI MFs come to Coin? I do not see SBI Pharma and any Franklin funds on Coin platform.
We’re working on getting these AMC’s on board, but it’s easier said than done. We’re doing our best to get them onboard asap.
Hey guys
1. What would be your competitive edge over other players like Invetza, Oro ?
2. If my understanding it correctly, you actually provide me a demat and a trading account for 300Rs an year through which I can invest in direct MFs for further 600Rs.
3. If above is correct, can I use the same account to buy stocks. If yes, do I see the entire portfolio in single view.
Please confirm if I still have to pay Rs 50 per month if I make just one lump sum investment of Rs 1,00,000 and no further investment in MF.
Yes, since you would have exceeded the 25000 limit, the fee of Rs.50 p.m would apply.
I wanted to Ask that pledging of the mutual funds will be possible with COIN ?
Not yet.
Suppose I am investing in mutual fund through SIP.
I am investing Rs. 5000 monthly. Started in Jan 2016 to May 2017.
My total unit is 100 unit
Invested unit in Jan – 2016: 10 unit
Exit load : 1% for 12 month.
Now in Month of June – 2017, i wanted to redeem only 10 unit of mutual fund then exit load will be appicable not?
When i am using Coin dashboard, how it will ensure that i redeem only those unit which crossed Exit load limit?
Thanks
Vishal
I don’t think Exit load will apply, since you’ve received allotment in the month of January 2016; and have crossed the holding period of 1 year after which you’re selling the units.
I am not seeing the switch feature in the coin. I mean to say switching in the same AMC.
Could you please throw some light on this?
No switch option for now.
Hi Nithin/Venu,
one of your client shailesh patani has lost more then 2 lac in REC trade as per above blog.
Venu did explained well MTM loss and MIS part – but still there are lot individual who did not understand what went wrong as they might have not experienced the same.
my suggestion here is like in one of webinar – please cover such topic in detail with dummy name but real data so that your existing client have clear idea to use leverage facility and to protect capital.
hope my point rightly understood above.
Will pass on your feedback.
Why Many funds could not be bought as Direct Plan ?
e.g. HDFC Balanced Fund >> Dividend Plan ?
I hope you can get things sorted out with FT as well soon
Sagar
We’re working on getting more AMC’s on the platform, it’ll take some time. Fund transfer issues have been resolved.
What is the meaning of Total installments (Until cancelled ) ? What signify if check Until cancelled ?
If you select ‘Until canceled’ your SIP order will be valid till you cancel the order. Else you can specify the number of SIP transactions you want to invest in.
Do we need to pay any extra amount as exit load or anything to the Fund if we select this option?
There will be no additional charges if you opt for this feature.
Exit load is decided and levied by the AMC for some schemes. They deduct a specific percentage from the redemption amount if you have redeemed the units before the stipulated time frame.
Do we have STP and SWP processes in place or are we in a phase to introduce those ? If we have, what are the steps that we need to go through ?
Currently no SWP/STP, but on our list of things to do.
What the hell is wrong with your system.. I did not understand the way u r executing your data management.
this is regarding ticket #335548
This morning I am seeing the my Ledger balance is in negative . because the credit entry of 10th/April/2017 is found missing.
This is very ridiculous and painful that your system is not working correctly.
nowadays everytime after doing the IMPS transfer it didn’t get updated in 10 mins (as per your SLA information) even when the markets are open 🙁
then i have to follow by email + customer care care.. to get my money credited in my trading account… then above all this.. again that amount credit entry is missing.
I made transfer on 10th eve 7pm… raised ticket on 11th 8am that my amount not credited. followedUp with Customer care twice to get it resolved….. then amount got credited… on 12th ticket got closed with the screenshot of credit entry in ledger (entry of 11th.. though the amt was transferred on 10th…)….. again on 13th morning credit entry is missing.. due to which.. my ledger balance is negative.. 🙁
Today i have placed some MF buy order… i suspect if this issue wouldnt be resolved then my MF orders will be cancelled saying insufficient balance in my account… 🙁
this is a high time to improve your systems. Q backend is really pathetic.. when your Q system qill become efficient & Stable.. and timeline for that or only god knows when this will happen.
since last 3days.. i am wasting my time by following up with you guys on call or writeup for my own money..
pls make mine as well as several other investors life hassle free.. and resolved my issue ASAP.
On this matter i called your Cust care @10.47am.. and your representative named suresh#Z1662 said he will get will resolved with th efunds dept and will updaet me back via call in 10mins..
but now its 11.28am.. issue not resolved and also i havent received any call yet… 🙁
I am completely blocked to make any further purchase :(:(:(
Funds were already updated Sharad.
Thnak you.
But this was the painful experience i had twice in this week itself..
pls fix your issues with IMPS
We’re working closely with HDFC to resolve this.
Sorry for the inconvenience, getting this checked.
Your MF orders will go through. The funds have been updated, apologies for the inconvenience.
I am already having an SIP running in your old platform. I tried to pause it and it accepts. Is there any possibility to delete the old SIP?
Three questions:
1) I already have lumsum amount in Direct Funds. Can I transfer it to Zerodha Demat account? Will I be able to manage them from zerodha coin after transfer?
2) Why we do not have option for Yearly subscription Fee instead of 1 month? The issue is I may have to deposit/add subscription fee every month and chances are they I might forget sometime.
3) If I start monthly SIP in any direct fund, do I have to deposit/transfer money every month in zerodha account? Is there a way I can do ECS/IMPS or schedule transaction from my bank account to zerodha account?
1) Yes, you can by sending us a demat request form. You will then be able to check your holdings in your demat account statement.
2) You can keep a fixed sum of money in your trading account, an year’s subscription is worth Rs.600/-
3) No ECS, you’ll have to transfer money from your bank account to your trading account. You may schedule an IMPS/NEFT from your bank for the same.
Dear Team,
My Issue is: Squaring off positions before 3:20PM + Execution of Trades without Consent + Non-receipt of margin
I had traded RECLTD17APRFUT on 11/04/2017 in Futures trading in MIS. As per your margin calculator the Margin for MIS trading for the above share was around Rs 55,000 (exact value you may check in your database) on 11/4/2017.
My opening balance on 11/04/2017 was ₹ 2,03,936.49.
I execute sell order of 3 lots of RECLTD17APRFUT at 194.95 average price.
As it was a Future trade in MIS, I got the message from your company regarding adding the margin to my account to avoid the squaring off my positions at 13:24Hrs.
I got 4 text messages from different client IDS, i.e. VK-ZERODH, VM-044226, VK-044024, VM-044022 (in no particular orders), all at 13:24 Hrs.
One of the messages shows that my order no. 1700000006059090 to BUY 18000 RECLTD17APRFUT MIS on NSE_FO is completely traded @ Rs 207.00, Zerodha.
I didn’t even got the time to add the funds to save squaring off my position and ultimately the account went to -12,773.76 balance in just matter of seconds.
I suffered a huge loss of Rs 2,17676.90, which is more than my present account value at that time.
As per trading rule mentioned on your website under Equity futures, Intraday trade using MIS for additional leverage (40% of NRML margin) between 9:15 AM and 3:20 PM. All open MIS positions get squared off at 3:20 PM.
Here my Open MIS was squared off at 01:24PM which is against the above rule and your margin policy.
Lastly how my account value went to negative of value Rs -12,773.76?
Please reply urgently.
When there’s volatility, your margins get depleted. Since you’re trading on additional leverage (by having used MIS), your losses may exceed capital available in your account. At such times, we square off the position to avoid the risk of the account going into further debit. I’ll get someone from the RMS to give you a call and help you understand.
As per the policies & procedures page on your website under the header “Note” point no. 6, its clearly written that “All positions will be subject to square off if your losses exceed 50% of the available funds in your account. This will be done at the discretion of our RMS team and there will be no margin call.”
My open position was auto squared off when the MTM losses reached more than 180% of the available account balance.
Why it didn’t auto squared off when my losses exceeds 50% of the available balance?
Shailesh, the policy says losses exceed 50%, it doesn’t say it’ll get cut at 50%. As I said earlier, I’ll get someone from the RMS team to give you a call and help you with this; else you could call us on 080-40402020 and choose to speak to someone from our RMS desk.
Venu, I have already had conversation with your RMS team yesterday and they failed to convince on my queries.
Regarding the policy, its clearly mentioned that the position get squared off(sell/buy) when the losses exceeds 50%.
That means if my open position is a buy order when the losses exceeds 50%, it should automatically be sold at that moment.
Here my position is squared way before the closing time of trading of MIS trade, i.e. 3:20PM. It got sqaured off at 1:24PM automatically. Pls explain.
The equity exchanges don’t allow auto square offs. The rms generates alerts and the positions are then squared off. In cases where the stock moves swiftly, little we can do.
That means the squaring off of the positions is done at your end and not at stock exchange level. Then why the rms didn’t squared off at 50% of the loss occurred as per your policy, why it wait till my whole balance get nil & went to debit stage?
It’s purely an issue of executing my order without my consent. I will decide when to sell & when to buy the open positions. How you at your end can execute it?
I would be responsible for the losses when I have executed the open positions at my wish. In this case I am not responsible for any loss that had occurred to me. Its totally your responsibility. Even you didn’t follow your own written procedure for MIS order as explained earlier. If you had followed the procedures then my position would be squared off when the loss exceeds the 50% of the fund available in my account at that time.
Yesterday when your representative called me, he was offering me a wave off of Rs 2000 from the debit amount in my account.
Why the hell he would do bargaining with me. If the execution of the open position at your end is true as per your knowledge then you should ask for the whole amount from me and I would be willingly ready to give it, instead he was asking me to pay 10000 form the total debit amount of Rs 12,763 and said that we can wave off the remaining amount.
Please prove that the execution of my open position from your side at 1:24PM on 11/04/2017, without taking my consent and also without following your policy norms is valid. If not then I am asking total refund of my loss from your company.
Shailesh, Here’s an intraday chart of the scrip you were trading in.
Notice the sudden spike in the stock price from 190 levels to levels of 210. At such times, there’s nothing a broker can do. Your position was squared off to ensure it doesn’t go into further losses. The waiver of Rs.2000 was given as a goodwill gesture to clear your debit balance. When you trade the Futures & Options segment, you’re trading on leverage. A move of this proportion is enough to wipe out the entire balance in the account. When you agree to trade in the F&O segment, you agree to bear all risks that come with trading such segment.
Venu,
My entire balance has already been wiped out and went to negative balance.
My question is how you square off the position. Does it happen by the system or manually?
Does your system has any predefined features like mentioned in your policy & procedure, that when the losses reached to 50% of the total balance the position should be squared off.
If not then its your inbuilt system fault that it didn’t square off my position at loss of 50% of total balance and did square off at more than 186% which ultimately leads to a negative balance.
In the stock market we all deal with risks that I know, but that does not mean that the broker should trade without taking consent of its client. And regarding good gesture, if you had informed me before squaring off my position then I would be more happier.
I will come up with more statistics on it later…
Shailesh,
The Equity exchanges do not allow auto squaring off of positions. The systems generates alerts and the positions are subsequently squared off. When you take a position, you’re entirely responsible for all gains & losses. It’s a position you took with your own will. It’s not a broker’s job to square off the position a client has taken. As a risk containment measure brokers have RMS policies, you can’t be stuck to that and blame us for not squaring off your position on time. Also, when markets move in spikes, there’s nothing one can do; since you are already leveraged. We did send you SMS alerts but the movement was so sudden, that the position had to be squared off to avoid the account going into further debit. Imagine a case where the stock had shot up to 230 or 240; who would pay for the debit that arises? It’s for this reason, that as a trader you are required to be alert, keep a track of your positions and ensure the account is funded always to avoid squaring off of positions. I think I’ve explained it to you quiet in detail; it’s unfortunate that you lost your capital but that’s the risk you chose to bear and it’s all part of the markets.
Hi Nithin,
What is the meaning of Total Installment and one small checkbox placed at top ‘Unit Cancelled”.
Thanks
Hi Nithin
I was waiting for such a service from long time. Good to see this.
What I am more concerned is about the security aspects of Zerodha. i can’t find anything on security aspects on your website. Please let us know how much secure zerodha is?.
Is there any vulnerability which can ruin all our trades and portfolios?
It is essential for all of the investors to know about this, even when I advise my friends to zerodha, the first question that comes is about safety.
Nithin’s answered this query here 🙂 https://tradingqna.com/t/how-safe-is-it-to-trade-with-zerodha/533
Read it, more of moral explanation. What I want to know is how you secure zerodha system from external malicious attacks like hacking, viruses. Since all trades are done on a click what are the chances of our trades being executed by some malicious attack in system? What protection does zerodha has against the same.
The platforms you trade are all Exchange approved products; the Exchanges will not approve any product unless they’re completely satisfied that it’s safe in all angles for a retail investor to use. Additionally all brokers are required to undergo yearly system audits conforming to the Exchanges guidelines set for internet based trading platforms.
Hi Mr Kamath ,
Good work on mutual funds , but Support is very poor. i transferred 6000/- from my bank account to Zerodha trading account . But fund has not reached . Bank says transaction was successful. Zerodha guys are clueless.
Support ticket – 717060
Getting this chcked and updated, it’s best to transfer using the payment gateway; if the transfer is done right, the credit is instant.
Hello, it seems there is something wrong with “DSP BlackRock Opportunities Fund – Direct Plan”
when i place SIP order, i get successful order placed popup. but i can neither ‘see it under portfolio tab mentioning pending order’ nor ‘i find any entry in order history’
but in ‘sip & conditional tab’ it is displaying as active SIP
this is so weird and funny.. pls correct this issue
Hi Sharad, this will be fixed soon.
Hi,
Could someone confirm that ELSS investment is continue to grow (or) NAV gets applied even after lock-in period and don’t get matured with some amount as like FD does.
Yes, your ELSS investments will grow based on how the Fund performs.
HI ,
The service is excellent (If upfront and trail commions work as mentioned in article ) . I do 25k sip every month and this looks like a best deal .
But issue is we want all funds on board ASAP .
Thanks !
We’re in the process of getting more funds on board.
I have opened an account in zerodha and paid also.but when I am trying to open coin first it directed me to give kite log in password and then It showing a message after log in that Mutual Fund is not enable for my account.why is this message is showing?how to enable it?I have raised a ticket also regarding this.
MF has been activated.
Hello,
How to buy Pension fund under NPS scheme.. like
ICICI Prudential Pension Fund
HDFC Pension Fund
SBI Pension Fund
Reliance Capital Pension Fund
Hi Sharad,
To invest in any one of the pension fund management companies like HDFC Pension, ICICI Prudential Pension Fund, LIC Pension, Fund, etc. (which are regulated by PRFDA) you need to first open an NPS account through a branch of one of the empanelled banks which are considered as Point of Service (POS) for opening accounts and accepting the payments that need to be invested in the scheme. There are close to 25 banks that empanelled to do this operation.
You can also open an account through the portal of various banks like ICICI, HDFC, AXIS, etc. (again provided you have an account with one of these banks then it is easier to complete the KYC verification). You need to fill up the form available on these websites and then submit to the Central Record Agency (NSDL) after which they will generate a Permanent Retirement Account Number and send it to you. You might also have to make a minimum investment of Rs 500 upon submitting the registration. There are 2 types of accounts in which you can invest Tier 1 and Tier 2. So, you would have to specify if you would like to opt for both.
If you wish to open an account online using your AADHAR then you can do the same on enps.nsdl.com. The steps to open an account and documents required are mentioned on their website. But, again you would have to fill in the details and then send the forms to CRA.
Once you start investing then you will have an option to allocate your investments in different asset classes like equity, corporate bonds and government gilt securities and these are the securities specified by PFRDA in which the Fund Management Companies are supposed to invest the money. As per the age of the investor, you can choose the percentage of allocation in these asset classes or you can give an instruction to auto assign the allocation. You can also have an option to switch between different pension companies in the future.
It is a bit complicated process to open and understand the mechanism of NPS but you could consider it as an option for your long term retirement benefit. Also, it is important to note that after you reach the age of 60 years, then only 60% of the corpus is allowed to be withdrawn and the rest has to be invested in annuity schemes which will be provided to you a monthly pension.
Thank you so much faisal.
In my prv post, i missed to mention how can i buy pension fund from your Coin platform … 🙂
but after reading your post, i think i cannot. or can i ??
Can someone from Zerodha answer the qiluestion Sharad asked way back in 2017 – does Zerodha support NPS
Does Zerodha support NPS. I want to move from ICICIDirect to Zerodha and my NPS account is with ICICIDirect. Will it move along with other shares from ICICIDIRECT
have same question as sandeep. Does zerodha support NPS account? could not find an explicit answer on web.
Could you please elaborate on ALL the charges one might incur(other than Coin platform fees) during each deposit/withdrawal process in an MF through coin?
Example 1: Depositing money via payment gateway costs 9Rs. In effect, an SIP every month will cost 9 Rs as trading account cannot be used to park funds(no interest received).
Example 2: As read from comments, a CDSL charge of 5.5Rs per withdrawal. Is this there for deposit also?
You can transfer money using NEFT/IMPS without charge. CDSL charges of Rs 5.5/fund/day when you redeem funds only irrespective of value. Those are the only other charges.
Thank you!
When are we planning to have Mirae Asset Emerging Bluechip Fund-Direct Plan and all SBI mutula funds on board. Any expected date ?
Anish, we are following up with the AMC’s to list their direct funds on exchange.
Thanks Nithin for acknowledgement !!
Actually I was opting to do investment in Mirae Asset Emerging Bluechip Fund-Direct Plan. Though I have already registered SIP (will be executed in May) on their website but I can cancel it. Please suggest me if I shall cancel and wait for the fund to get listed on coin or shall I proceed. I think the process to transfer the fund to coin is additional overhead that I need to go through afterwards. Please suggest !!
Hi Anish,
As Nithin’s said, we’re working on making more AMC’s and their funds available on Coin. I suggest you continue with your investments on their site for now until the same fund is available for purchase through coin. If you’re buying it in non-demat mode, you can de-materialize them later and hold them in your Zerodha demat account.
Thanks Venu !!
Hi Zerodha,
Please let know when is the new Q coming online? It was supposed to be in Mar and we are in April. Being unable to check the previous day’s orders is frustrating with the old(current) Q being down most of the times and also the “5 min” timeout to load the page.
Badly waiting for the new Q
– 4 year Zerodha Investor!
Hari, all requests on Q being taken in queue. Reports are not instant, but it is working fine with delay. Will get someone to call you back to check this. We are having issues moving our huge database to the new Q. Until then, reports will be given in queue.
Thanks for the reply. Yes, I do see the Tradebook reports after a while. Will wait for the new Q, till then the old Q with the time delay is not convenient enough.
Nice work on the SmallCase and the Coin platform.! SmallCase is one of my Fav and waiting for the option to reduce my holdings by a % of the Case than having to completely exit (so as not to disturb the ROI metrics in Kite/Quant).
I’m still one of those guys who value Time to market (reliability too) Vs Product to Market and was curious.
I have some queries
1.You will change the subscription fee Rs50/- per month, when my monthly investment more than Rs 25000/- or annual?
2.shall i transfer my existing direct mutual to coin?
1. When your overall investment through coin goes above Rs 25000.
2. yes, you can.
I have 2 questions –
1) how is expense percentage calculated and when is it deducted .
2) suppose we do a SIP of 1000 monthly for say 5 years and then we exit the fund ,will that attract exit load since last 12 month SIP didn,t completed 1 year ?
3) on icici prudential value discovery fund the expense ratio(0.91%-coin) differs as mentioNed in your coin platform and on value discovery(0.87%).link-https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=15822
1. Expense ratio is declared by the fund. That is how much money from the fund they will deduct daily. Check this answer.
2. It will depend on the fund you are investing into. If there is an exit load for less than 1 year investment, it will apply to your last 12 months.
3. Both valueresearch or our platform would have bought this expense ratio data from a data vendor and displayed. There are chances of a mismatch. You can check with the fund documents directly, that expense ratio would be applicable.
Yeah the expense ratio is 0.87% as funds march documents ,ki dly correct it.
Hello Nithin Sir,
At present when we click on the coin symbol through Kite Web, it directs to Coin home page but at present it does not give login.
For practical purpose if we have to login then we have to click the login button then it validates the user logged in through the browser history and then create a log in for the user.
Can we automate that immediately we click on the coin button then it directly gives a logged in to the user and he need not click additionally on login button at home page of kite.
Regards
Bhushan
When you are going to start NCDEX on Zerodha ?
No plans of NCDEX, hardly any volumes and very tough to manage risk on agri contracts.
Mr. Nithin, My best wishes to You and your team for changing the financial market scenario The awareness you built for clients is wonderful.
I am interested to invest in bonds, but not knowing the procedure. Can you open a window for invest in Bonds like REC, NHAI, etc in demat format, which will be beneficial to investors like me.
This is already possible with us. You can search for this on Kite and purchase. Check this link for active bonds.
Ok Nithin, for the information. I want to know how to purchase the same while they are issuing on particular date, so that we can get at the minimum price, Please inform the procedure.
Do go through this link. No one line answer to this, we will try putting up something on varsity soon.
Thank you, Nithin for the prompt response. As you informed please put up an an article about investing in Tax free bonds of REC, N H A I, etc to have clarity on the subject Warm regards.
I invest in direct Mfs through mf utility. Its free lifetime. I can hold in demat also through mf utility.
Hello,
I am able to start SIP for “Mirae Asset Emerging Bluechip” from ICICI DIrect.
But why it is not showing up in coin (nor in non-direct fund) 🙁
In icici, i am getting this message – “TEMPORARY SUSPENSION OF LUMPSUM SUBSCRIPTION with effect from October 25 2016”
BUT it is allowing to start SIP.
pls start it back on your platform as well
Hi Sharad,
There are 2 ways in which the AMC accepts the investments. One is Lumpsum and the other is SIP.
The lumpsum consists of 2 fields, first is the ‘ Initial minimum investment amount ‘ and second is ‘ Minimum additional purchase amount ‘.
When you wish to invest via SIP, then you need to register for it via a ECS/NACH mandate form wherein the amount is always debited from your bank account on some specific dates.
Now, we have made a custom SIP where the installment amount is actually the ‘ Minimum additional purchase ‘ which is a part of Lumpsum investment. This is the reason you have the flexibility to modify/pause/delete your SIP and the amount is debited from your trading account.
In the conventional SIP, if you wish to modify the amount then again a new physical request form has to be submitted to the AMC. Also, if at any point of time there is less balance in your bank account on the day the installment amount has to be debited, then the bank will penalize you. But, in our case you will just receive a notification saying that your order has failed due to insufficient balance. Then, you can just open the fund page and place a order again for the same amount after you have transferred the money on any day.
Unfortunately, Mirae Asset has stopped the investment via Lumpsum so we do not show the fund on our platform.
Hi Kiran,
Yes, the schemes which you mentioned for ICICI and Birla AMCs are available.
Schemes of SBI and Frnaklin AMCs should be available soon.
Can I invest in below four funds via SIP in COIN under direct mutual funds?
SBI Blue Chip Fund – Regular Plan – Growth
ICICI Prudential Value Discovery Fund – Growth
Franklin India Prima Plus – Growth
Birla Sunlife Front line equity fund
I am getting error “Order placing failed. Purchase not allowed for today.” when trying to buy a new fund. Is this because I can only place orders till 1:30pm?
Issue seems to be only with “Reliance Gilt Securities Fund – Direct Plan – Growth” fund.
There is a minor issue in the data that we receive from STAR MF (our backend order routing system) as a result of which this error has occurred. This will be fixed shortly and you can try placing the order again on Monday.
Hi Nitin,
I am new to zerodha and found it wonderful.
The most amazing thing regarding zerodha is Coin, where I can buy Mutual Fund in bulk or start a SIP, all with great ease of flexibility.
But in spite of all the features, I am greatly disappointed when I tried to search the MF schemes to subscribe and found that non of my preferred schemes are available on Coin. For me, its like having a sedan car but no seats to inside to sit.
Here goes the list of my preferred MF schemes that are not available on coin
Mirae Emerging Bluechip Fund (G)
Franklin (I) Smaller Co -Direct (G)
DSP BlackRock Micro Cap Fund – Direct Plan
Sundaram Select Midcap Direct
Could you tell when these schemes will be available on Coin?
Thanks in advance!
Hi Sharad,
Mirae Asset emerging Bluechip fund and DSP BR Micro Cap fund are not available on the platform because the respective AMCs had temporarily suspended fresh investments in the particular schemes.
Franklin (I) Smaller Co -Direct (G) and Sundaram Select Midcap Direct, we are working on getting these on the platform at the earliest.
Hi Nitin,
My question is even if the agent gets commission I do not mind as long as I am not at a loss, so when I invest directly do I get a different NAV or more units or its the same as with an agent ?
Because if its the same then I don’t see how my agents loss will be my profit.
Vikrant, suggest you to go through this video. I have explained in detail. When you invest directly, you have lesser expense ratio, so NAV performance of direct funds are always better than regular plans.
Greetings Nithin,
Once I buy a Mutual Fund through Coin platform, the units will be credited to the DEMAT account. How will I be acknowledged about the investment from the fund house? When bought through a distributor, the fund house sends an Account Statement to the investor which has folio no and other transaction details. Now, if an investor buys through Coin platform, will the fund house send an Account Statement to the investor with details on folio no and other details? Will the folio number be generated for investments done through Coin platform? How will the investor know the folio no.? I want to know the answers to these questions for 2 reasons:
1) What if Zerodha closes in future and if there is no folio number provided at the time of investment, how will the investor be able to sell the funds lying in their DEMAT account? The AMC requires folio number in its redemption form.
2) If I hold units in a direct plan of a fund house already and wish to add few more units to that folio number, how can I do it through Coin platform? Another case where I bought a fund last month through Coin platform and wishes to invest further in the same fund but in the same folio no., how can this be achieved?
Another thing which I request you to clarify is on the annual charges:
1) I am already a Zerodha account holder and I pay 300 AMC charges. I plan to invest more than 25000 in a year in Mutual Funds which means I need to pay 50 per month which will total to 600 per year. This will bring my total cost to 900? Am I correct? or will it be just 600?
2) If a non-member investor just wants to invest more than 25000 in Mutual Funds through Zerodha, how much he need to pay in a year? As I believe, he will first need to open an account with Zerodha with a DEMAT account which will attract AMC charges of 300 every year and another 600 totaling to 900 in a year.
Thanking you in advance.
Hi Ashok,
When you generally buy mutual funds online through some distributor, they generate a folio number for you and then give you the units in non-demat form. So, here the folio number is the unique identifier for your investments and you are able to track your investments on the basis of the folio number. The folio number is generated by the AMC as soon as you make a new purchase in that scheme. Also, whenever you make the purchase this way then the AMC sends you statement for the particular transaction.
Now, we are providing you the feature of holding the units in demat form which is a more secure way of holding your units. When the AMC receives a request for a purchase order in a particular scheme then they still create a folio number but now they credit the units into your demat account. So, you have a folio number for your transaction as well as a Demat account number (16 digit number) as identifiers for your transactions. But, if the units are in demat mode then the AMC gives more relevance to your demat account number as a unique identifier.
Now, the AMC says that they cannot send you a statement for transaction done in demat mode and you will have to check the same with your Depository Participant. In this case, you demat account statement is a valid proof of investment as the fund details and units reflect in the same.
When you are investing through COIN, a folio number is also generated and you can view the same in your portfolio window after the units have been allotted.
1) Hopefully should not happen 🙂 But, if you wish to redeem in such a scenario then you can rematerialize the units and provide the folio number as shown on COIN for the particular fund.
2) If you have bought a fund from elsewhere, you will be provided a folio number. But, if you have invested in the same fund through COIN then a new folio will be generated. But, whenever you make additional investments in the same scheme through COIN, the units will reflect in the same folio number.
3) It depends on how you have invested the Rs 25000. Suppose you did a monthly SIP of Rs 1000 per month, then you would not be paying the charge of Rs 50 for 2 years. You would be paying Rs 300 as AMC for demat.
The important thing to note is that the AMC charge is not separate for mutual fund units. You are paying the AMC charge for holding all kinds of securities in demat form. Also, the charge of Rs 50 for investments in direct plan is a very nominal charge compared other direct plan distributors. If you want to understand more about direct plans, then click on the link below.
https://tradingqna.com/t/why-invest-in-direct-mutual-funds-on-coin/11738
Thanks Faisal for your reply. I have few more queries for you. Hope to see your response soon.
1) Is there any other method to redeem MF units for above-mentioned scenario other than selling through COIN or re-materialization as re-materialization is too time consuming and is not at all desirable. It will also attract charges which is unknown.
2) You mentioned above that the AMC will still create a folio no like in SOA format and when invested through COIN, a folio number is also generated. Are these folio numbers thus generated by AMC and Zerodha on COIN are same or different?
3) Is it possible to handle decimal places in SELL option in COIN or we can only SELL MF units in whole numbers? I have heard that at the time of redemption, one will never be able to sell all MF holdings in DEMAT account.
4) How quickly the units or redemption amount gets credited and reflected?
5) How will the investor notified about the transaction done on COIN? Will he/she receive an e-mail stating all the transaction details after every MF Buy/Sell transaction?
6) Will XIRR and other historical transaction data (i.e. analytical reports just like in Q) be shown? I never receive DEMAT holding statement from CDSL on e-mail when I invest/trade through Zerodha.
7) I want to confirm and so reiterating again. I intend to invest say more than 25000 in a year. In this case, I need to pay 300 as DP charges and 600 as COIN subscription charges. Am I right? If yes, I am paying 900 annually. Also, DP charges of 5.5 have to paid in case of redemption. After how many years, you intend to change these cost structures? Any possibility to have percentage-based transaction charges for e.g. 0.01 of total sale value in a year?
8) Just a request, if possible, can you make and upload a video on how the transaction and entire investment process (page by page) happens through COIN?
Thanking you in advance.
1) The other method would be transfer the units to another demat account or DP and ask that DP to place a redemption request on your behalf. There will be a redemption request form in which you would have to fill in the details and then submit it to the DP.
2) Yes, they should be same. As I mentioned earlier we do not create a random folio number, the AMC does it.
3) This restriction is only for ETFs. But, for the normal open-ended mutual fund schemes you can place complete redemption request from COIN including the fractional units,if any.
4) The purchase settlement time is T+1 day and the redemption settlement time depends upon the type of fund. Generally, for equity funds it is T+3 day, debt funds T+2 days and liquid funds T+1 day. But, there are few funds which have T+5, T+7 days also.
5) We send an email from our end whenever there is an allotment or redemption.
6) This is on our list of things and should be soon available on Q. If you are not receiving any emails for your demat holding statement then please write an email to [email protected] and someone from our team will check the issue.
7) So, as per your question I will have to assume that you invested Rs 25000 or more in the first one month itself in one of the direct mutual funds and there might also be a probability that you might invest more within that 1 year. So, yes the total charges would be Rs 900. But, you need to understand that if this was an investment in a regular plan then the AMC would pay us a upfront and trailing commission on the investment (which could be more higher than the annual charge of Rs 600 pa). The AMC thus deducts this cost from the NAV of a regular plan and thus if you compare the NAV of any regular and direct plan of the same scheme, you will observe that the NAV of a direct plan is higher than the NAV of a regular plan. We are still charging a nominal cost compared to other online direct plan distributors.
Also, as I mentioned earlier we as a business are providing our clients to invest in equity, ETFs, bonds also in demat form. Thus, with the AMC of charge of Rs 300, you are able to hold all these securities as well in your demat account.
8) We already have a video about investing through our COIN platform. You can click on this link. Also, the video might answer most of your queries related to point (7).
Why is Zerodha ICICI MF tied to your DP ? When I go to ICICI prudential site, it says zerodha MF folio cannot be added and tracked on ICICI Prudential. But Groww can be done. What is this?
Hey Sameer, the MF investments on Coin are held in your demat account. If you wish to track them elsewhere, you’ll have to rematerialise these holdings and convert them back to paper form.
Hi,
Can the Coin direct platform be accessed from outside India? i.e. I would still be able to transact from abroad.
I believe most AMC’s do not allow users to transact if they are outside the country from their individual websites.
Regards,
Ameet
You can access coin from anywhere.
Hello Sir,
If I am one time buying Rs 25000+ any direct fund, not doing SIP. Does commission deducted on monthly basis?
If I am not doing any transaction for particular month do I need to pay commission for that month?
Regards,
Sumit
Yes, once your investment exceeds Rs25k, Rs 50/month will be applicable until you unsubscribe.
If I am doing some transactions then it should deduct the commission. If I am only adding 25k and next direct investment will be after a year then I will be in loss of Rs. 600 and it will continue 50 per month.
I think commission should be on transaction basis.
Hi Nithin,
Can you please explain why the direct plans have a higher NAV compared to the regular plan.
For example the Axis Long Term Equity Fund regular plan as of today (6- April- 2017) has a NAV of 34.99.
However, the direct plan of the same fund has a NAV of 36.8
If the NAV of a direct fund is higher and if you add the 50/month to it. Isn’t it nullyfing the amount we are saving by investing in a direct plan.
Can you provide the quant to justify the above.
Thanks in advance.
Regards
Mani
Mani, these are two different plans, you can’t compare NAV to decide which is cheaper or expensive. It is like you asking why SBI is cheaper than HDFC, because price is cheaper. What you need to do is look at expense ratio, and return on the fund. Check this video: https://www.youtube.com/watch?v=NIvqXeQ90Wo
Hello Sir, I already have demat a/c for equity and if i buy MF then the annual charges 300Rs is charged seperately for equity and MF? or only one demat a/c charge?
Only one demat AMC charge.
Hi, When will be fees be deducted? Is it monthly / quarterly / yearly? What if there is not enough fund in the form of balance in the Zerodha account?
Monthly. If there is not enough balance, it will remain as lien. Whenever you transfer, it will get deducted.
During a month will you deduct at the start of the month / end of month. Also, I am new to Zerodha and I am not able to find the account statement to reconcile the fund transfer-in and their use. Where can I see a ledger / account statement for my funds.
Login to q.zerodha.com and click on Ledger.
Hi Nitin,
Very impressive business model…but you have done injustice to some investors!!!
Lump-sum
there are many salaried persons who prefered their investment in a lumpsum way because they earn that amount it in one time. eg. Annual incentive/quarterly incentive or sold some property and wanted to invest in MF.
How coin platform will helpful for them??
SIP for specific time
Suppose one person investing 10k per month and he continued SIP for 24 months. after that, he stops investing in MF, but he wants his invested money to be remained in the same fund for next 25 years.
Encashing market scenario
Some investor prefers to invest when a market is bearish… and patiently wait for long term..!! How to utilise market opportunity????
Please give reasons to stay invested for Lumpsum investor….!!
Thank you!!
Amit, I also have a lumpsum amount. I am planning to open an account with Zerodha coin for the sole reason that they provide direct plans.
Here’s my thought as a fellow investor..
I will put my lumpsum into a fixed income fund and then create a SIP and spread my investment across a few months/years. This will help me to cope with the uncertainity of the market and I will minimize the risk.
Hope it helps.
Amit, lumpsum or SIP, the benefits of investing in direct mutual funds is the same. If you invest lumpsum in regular plan, you pay upto 1.5% upfront and 1% every year as trail commission. You can avoid that completely with us.
Hi Nitin
I have met you some months back and the progress that you guys make is promising. My questions
1. If i am not investing in to SIP and making a bulk investment of 5 Lakh for an year, how much would be my subscription fee?
2. What additional benefits does Coin offer compared to an Demat account which i am holding with HDFC already
3. If i need technical assistance in buying the fund i hope your guys will be able to assist (cust service)
Keeping going!
Hi Sree,
1. The same Rs 50/month
2. Equity investing at 0, much better platforms. And if you are asking about MF, check this: https://tradingqna.com/t/why-invest-in-direct-mutual-funds-on-coin/11738
3. We don’t give any views on a particular fund.
3. There are websites like moneycontrol and valueresearch for that.
A) Please advise whether STPs ( Systematic Transfer Plans ) is available in coin. In fundsindia, you can give mandate for STPs
B) can you please again advise how the charge of rs 50 / is levied. can i take that max charges by coin is Rs 50 irrespective of any no transaction / value ?
1. Not currently
2. Yes max charge is Rs 50/month.
Hi Nitin,
How does switch-in/out and STP work in demat form?
CDSL charges of ₹5/- are per sell transaction or switch also?
Currently not possible.
Kudos to Zerodha team for this unique model. I have one quick question, I hold a few MF (direct schemes) in my portfolio. Can i get them transferred into this?
regards
Yes, you can. Ask your AMC to credit it to your demat account with us.
Dear Nithin,
Using this portal to direct pass message to you.Now ZERODHA is mature enough and growing day by day but still showing wrong information in down time.
Today morning (@4th april 2017-holiday) my account details was totally wrong . No position , no holdings , even margin was with -ve value . What is this . Why development and deployment team playing with customer data . If server is down technical issue then why kite- portal is UP. Its better to down website in holidays or weekend rather than showing wrong information . Uneducated person also using zerodha what will be happen if they see wrong information, for sure they will get frustrate for few hours as i got.Even i got wrong sms regarding please add funds else admin will square off your position due to low margin although i having good enough funds even to bear loss .
I am pretty much sure zerodha customer asset is secure and there will be no discrepancy even for single rupee but even in down time, holidays or because of some technical issue zerodha must not allowed to show wrong information to customer rather than down website or put under maintenance or whatever . But there must not be any discrepancy in customer information at any point of time .There is no excuse of huge load,network traffic as organization growing they have to be ready to handle all load or traffic . Please try to work on discrepancy issue even in holidays or weekends.
Regards,
Kite interface love
Why do we need make
Initial investment (Minimum: ₹ 5,000.00 ) or 1000 for some funds ????
i have MF going on with Icicidirect there they never asked for initial investment on any MF regardless of category you invest in
even with old mf.zerodha.com it used to ask for INITIAL investment even that is distributor mode and the commision thing is same as icicidirect so please remove this initial investment requirement so small investors like me who can SIP directly 500/1000 SIPs without any INITIAL investment
and why Coin/Mf.zerodha asks for such a thing please explain
Thank you
Pramod, the SIP that have setup on coin (or old mf.zerodha) is actually simulated SIP. We essentially do a lumpsum investment at regular intervals. This gives us the flexibility to allow you to set rules like start/stop whenver you want, hit pause, edit SIP amounts, etc etc. Not possible in traditional SIP.
I am having MF investments (all Direct) with CAMS. How do I get those investments transferred to my Zerodha Demat account. What would be the charges that would be levied in this transaction. Also provide list of AMC having MF (direct) with Zerodha Coin.
You will have to ask CAMS to deliver those units in demat to your Zerodha demat account. No charges from our side for this. Check this list: https://coin.zerodha.com/funds/non-direct
Dear Nithin,
1.Could you kindly explain me what’s the holding period for these direct mutual funds ?
2. What are the tax implications for long term holdings and short term holding of these mutual funds?
3. Could we trade these mutual funds as we do with stocks?
4. Also what is exit fee?
5. Do we also have to pay fund manager’s fee/ or is it deducted from NAV?
1. It is upto you, same like regular MF.
2. Same like regular MF. More than 1 year long term, less than 1 year short term.
3. Almost like that.
4. Certain funds might have exit load. You need to check that individual funds scheme documents. Nothing from Zerodha/coin.
5. That is deducted from NAV as an expense ratio. Check this: https://tradingqna.com/t/why-invest-in-direct-mutual-funds-on-coin/11738
HI Nitin,
Just to clarify:
a) Once I have a zerodha d’mat account, no more forms etc have to be filled at the time of every investment.
b) Will this work with ILFS d’mat account or d’mat account with some other firm also.
b) Money for investment has to be transferred into the same bank account where money is currently transferred for trading equity or to some other account.
c) Same trading platform to be used as share trading or different.
Can you please send a link to a page where such details are mentioned.
Thanks and regards,
Hormuz
1. Yes
2. This will work only if you have Zerodha demat (not ILFS)
3. Yes
4. No, you can login to coin.zerodha.com with your trading user ID/pwd.
We have a webinar tomorrow on our youtube channnel, https://www.youtube.com/playlist?list=PLkxTRam6E2V_Kq5l-H4Xihh-nWgO6Z4d9. You can check the video, and also look at this Q&A: https://tradingqna.com/c/zerodha/Coin-Zerodhas-direct-MF-platform
will you charge 50 rupees per month life time basis? for Coin platform
Yes, that is the plan. You can always unsubscribe after exiting/transferring direct MF from coin.
If I want to invest 5000 per month in a particular “mutual fund-Direct plan” through “zerodha coin” then after 1 year (5000*12=60000) how much I have to pay to zerodha??? I mean 50 rupees per month * 12 = 600 rupees., that is right?????
First 25000 is free, so nothing for first 5 months, after that Rs 50*7 = Rs 350.
Hi,
Is there any android app to manage mutual fund like Kite for equity ?
Also 25000 rs for direct mutual fund are free every year or once?
Thanks
Currently no, but soon MF will be part of Kite android. Rs 25000 once.
Hi Nitin,
Thanks for launcing such good product. I am fan of zerodha and have promoted it to my friends also!
Query: I have an Investment Savings Account with HDFC. My current portfolio is in few lakhs and few STPs/SIPs going on.
Can I transfer those existing funds into coin? If Yes, how?
I’d appreciate if somebody from your team guide me with the process.
Thanks,
Hiren
Hiren, I am guessing you have regular plans running right now. Switching regular to direct is a little tricky right now. What you can do is convert it to demat by speaking to your AMC. You can stop all current investments in regular and start afresh on direct with us. To convert your regular to direct, you will have to exit them and invest afresh.
Sir,
Nice start. Few queries
1. Not all fund houses and not all funds of a fund house listed
2. Can I do lumpsum in a liquid fund of hdfc and then do STP to a balance fund . Is this facility available.
1. Yes, not all funds ready with direct in demat. Should be all available soon.
2. Not currently. You will have to manually do this, but quite easy – like selling a stock and buying another one.
Let’s say I invest 50k in mutual funds, you will start charging 50 rs / month and sold it after 6 months. Will you continue to charge 50rs after I sell all my mutual funds?
Sriram, once you exit, you can unsubscribe from the platform.
Nithin,
I posted a query on why you are not allowing me to withdraw my balance in Tata Money Market mutual fund.. I got a bureaucratic reply asking me to send mail to support by one of your colleagues. Why can’t you reply properly?
Sriram, we have fixed the issue. Just cancel your order and place a fresh order.
Kudos to your new venture, it is looking good.
Currently, I am not enrolled in any form in Zerodha, so I have a few questions.
1. If I want to do both equity trading and investing in direct mutual funds, charges will be 300 AMC for Kite plus 50 per month for Coin mainly, along with other charges as applicable? So about 1k a year?
2. Will the two platforms be integrated soon?
3. Will you be adding cool features like indicators, graphs, goals to Coin?
Cheers
1. Yep
2. Yes, on the cards.
3. Yes. Check out http://balance.tech/, startup that has built a great platform over coin. They should be live soon for all Zerodha customers.
Listing Mutual funds in the Coin Website is really bad. It is same as before.
Listing 100s of links without any filters or details. No easy way to filter and compare. Can you please add a filter option like in smallcase, where we can filter funds by various factors?
Please!!!!!
Yep Surjith, we will have a screener of sorts in the next few weeks.
Sir, pls add MF compare feature to coin platform as well.
It was their earlier in old mf.zerodha.. 🙁
One more thing…Please provide an option where i can club certain SIPs to map to a goal…This way you can setup different Goals and also i can add many number of Goals.
Yep, on our list of things to do.
Hi Nitin,
It was heartening to hear the coin platform. I was waiting for this kind of platform which is recognized and cheap.
It is a Zerodha moment for Mutual Funds. Please add Franklin Templeton and other missing AMCs as I usually invest in those funds.
Once again many many thanks for introducing this. Also if possible please give UPI option for payment as it is much simpler for transferring money.
And Count me in.
Sathish
Yes UPI on its way. Franklin and others are still not ready for Direct in demat, as soon as they are, you will see them on coin.
Suppose i invest 25k for the first year, then i will be not be charged anything. Suppose if i invest another 25k for the 2nd year, will i be charged 50Rs/month ? or for the new year it will reset to zero. Please explain.
You will be charged after the first 25k. Won’t be reset to zero every year.
It’s also a good idea to check with other MF guys who are there in the market with good expertise. Just to save Rs 50 or 1 % you’re forced to buy MF which may not yield better return. SO Please be smart and check with others rather than getting fooled in the name of free commission, brokerage etc etc…. I am serious guys. I have invested my self and have got decent return with great transparency with AMC’s.
Hello Nitin,
I started my investment journey with mutual funds, however, due to the high expense ratios of good mutual fund houses, I stopped.
With zerodha coming up with this new platform, I shall restart my MF SIP’s without worrying about high expense ratios eating up my profits, and will also advise people to do the same.
Regards,
Sameer Bonde
Cheers,
Hi Nithin,
What about the YTD MF statements / SOA ? Will we be able to spool it at each MF level the way we currently do it from MF website ? or it will be generated for ALL? Example –
If I have investment (SIP) in ABC, XYZ and PQR MF, will I be able to spool YTD statement for all 3 funds at one go or I’ll have to select the fund and then spool the report ? Thanks
Since these are in demat form, similar to stocks, we will give you one statement for all funds.
Appreciate the benefits explained by Mr.Nitin.
Listed Below some of the points after reading comments, answers which resist me investing in the coins. ( Though few may be taken care in future)
1. STP from one fund to another ( switch not possible)
2. Cost you Rs.5.5 (CDSL charges) for each withdrawal transaction.(costlier for SWP with low amount)
3. Here Investment is through trading account. Thus transfer of money to bank account will have lead time.
1. Not automated. But you can stop and start another fund with click of a button.
2. Yes
3. Yes
How good are the reporting features in coin. I use zerodha and when I try to get reports of past transactions I usually get 502 gateway error most of the time
Naresh, we replacing the backoffice vendor with our in house tool. We just did a major upgrade, Q issues should be sorted now. You will get all kind of reports.
Hi Nitin,
It’s good initiative from Zerodha. Rs 50/-monthly charge is not a problem/issue if it’s not going to be revised upwards. Please clarify whether “Coin” is going to support SWP And STP also like online platforms of AMC.
Currently no SWP/STP, but on our list of things to do.
Dear Nithin,
A very god initiative for Zerodha subscriber family to help for a good return. Thanks a ton.
Thanks for providing a direct mf investment platform. You guys rock in the trading platform i advocate how awesome you guys are in the trading platform to all my friends, but direct mf platform cost of 600 Rs per year is slightly high. May be if you can reduce it to around 350-400 Rs per year i can think of coming onboard. I currently use mfutility and its buggy to the core. I placed an order for 80K and due to a bug in mfutility platform i have now 3 folios created each with 80K and i have been repeatedly mailing them to let them know that i paid only 80K and not 2.4 lakh 🙂 but no one is responding. My primary investment is in ultra short term debt funds hence 600 Rs per year seems more as my gains will be around 7-9% on my investment. May be you can provided differential pricing for equity and debt? just a thought!
Thanks once again and appreciate your efforts.
Hi Partha, check out the webinar on our youtube channel tomorrow on Coin. If you see the convenience, I think you will understand Rs 50/month is nothing at all.
wow great work coins. zerodha
The problem with MF is not in buying but in withdrawals or cashing in the units. It has taken me persistent effort to get money from MFs ( direct online inv and sale) . What is the procedure for surrender and how long will it take investors to get the money back from MFs thru the coin?
Another good thing with Direct MF in demat mode, you just have to hit the redeem button, similar to how you sell stocks. Money gets credited to your trading account from where it can be withdrawn.
Dear Nithin,
This is really good step and of course, a revolutionary step. This offers more convince to the investors. But a question, Mutual Funds are always made for long term say about 10 years. What is the probability of maintaining same flat 50 rupees charge in next 15 years.
Jithendar, the plan is to not change.
Hi Nithin,
Few questions…
1. List of MF (Direct Mode) currently available
2. What is the Demat charges for MF Direct Platform
3. Will MF Direct platform be similar to Equity Inv. I.e I mean that Fresh purchase or redemption takes place on the same day (say by 15.30 similar to equity shares)
4. Link to move existing MF Direct Schemes from physical mode to Demat mode
1. https://coin.zerodha.com/funds
2. When you redeem, Rs 5.5/transaction irrespective of the value.
3. Works little differently. Orders placed before 1.30pm get same day NAV, and those placed after get next day NAV.
4. Physical to demat, you will have to contact the respective AMC.
1. Lets consider we open SIP for 3000/- per month in starting, in later stage can we change it to 2000 or 5000 per month.
2. If we start investing through SIP, suddenly can we put lump-some amount to the same scheme.
3. what if we are unable to spend one month installment for SIP, can we pause the investment without additional charges and resume it in next month.
I am very new to this. I would like to have this clarified. Kindly help me out.
Thank you.
1. Absolutely, with a click of a button. Check out the webinar tomorrow.
2. Yes
3. Yep, not possible anywhere else but on coin.
Will the purchase and sale of these Direct Funds happen through any stock exchange ? Will there be any impact on the Long Term Capital Gains ?
Yes, the purchase happens through BSE star MF. No impact on long term capital gains or any other taxes.
I placed redemption order for my funds on 29/03/17. Till 02/04/17 it was showing awaiting payment from AMC. On 3rd april morning it’s showing payment credited on 03/04/17. But till 11.45 pm nothing has been credited my account. What’s the issue?
Hi Saikat,
The redemption amount would reflect in your trading account and not your bank account (in case you are not aware). You can check your ledger balance in your Q back office to verify if the amount has been credited. If you still find that there is any discrepancy or have any doubts then please write an email to [email protected] or [email protected] for any clarifications.
Yes, I’m talking about my trading account only. I checked now as well. Nothing has been credited to my trading account as of 04/04/17 3:08 p.m.
I already have funds invested in direct mutual funds at AMC. SIPs are active now. If I stop those SIPs and start with Zerodha will you pull my older data to zerodha and show me everything or you only show what is invested from Zerodha only ?
You will have to move those funds with AMC to your demat with us. Once done, it will start showing up.
Hi Nitin ,
Am happy to be a member of Zerodha. Till date I have been using Ventura Securities for investing in mutual funds.. do they work in a similar model of Zerodha? What I understood was they charge a flat fee of Rs. 50 at the time of redemption irrespective of the number of units sold. Am I missing something other than this charge. If that’s the case then Ventura looks cheaper to me. Pls help me clarify this point.
Venkatesh, Ventura is selling MF in distributor model. Which means, for every investment they get paid back from fund house upto 1.5% and every year upto 1% as trail commission for as long as you are invested. Distributors hence don’t have to charge any additional charge. Check this: https://coin.zerodha.com/ and the FAQ. You can also attend the webinar.
As you said, if I want to convert my existing regular MF in Zerodha, I have to sell it and buy direct plan. But what happens If I buy direct plan without selling Regular plan. Does both plans appear as separate plans or get combined as regular plan and I end up paying commission for both?
Also is it wise to sell regular plan and buy direct plan? Because I just started 3 weeks back and will I incur additional charges for selling regular plan?
Both will show up as separate plans in your MF portfolio. I’d say, dont’ exit the regular. From next month start Direct. No point paying an exit load on regular if amount invested is not too much.
I think the best way would be to pause the MF in regular SIP mode and start the same MF afresh in SIP Coin mode
Instead of demat for Mutual funds, Zerodha can Tie up with MF Utility platform to offer all AMC direct plans. Zerodha can charge subscription but client will get all direct plans from all AMC’s (no direct plan will be missing/ no wait to get on board).
Arun, all the funds will start showing up on coin soon: https://tradingqna.com/t/why-invest-in-direct-mutual-funds-on-coin/11738
Hi
What if when i do SIP , from where the money be deducted ZERODHA ledger or from my bank account..?
Zerodha ledger.
Hi Nitin,
Great work on Coin to add direct mutual funds. Some people are always pennywise, pound foolish and will not understand the convenience, ease of purchase/sell etc provided by Coin at very reasonable charge.
I have one question, Over the weekend the Q and Bo site was down completely for what I believe was ,multi step upgrade to new Q. Can you pls throw some lights on how it went and what are the new timelines and how many more steps to get to new Q which is promised to resolve many issues with existing Q , Bo and retirement of Thomson old platform etc ?.
Thanks in advance.
Manoj
Manoj, the last weekend update was just one among a bunch of things that will happen in the next few weeks. But yesterdays change should fix all the bad gateway issues. Once the backend is working to our expectations, we will start dishing out the new UI.
What happens to my existing investments, when i unsubscribe to coin?
To be able to unsubscribe from Coin, you will have to first exit/transfer all the direct MF purchased through Coin.
Hi ,I have a small doubt .Say i invest in 3 Direct Plan MF .So will the charges be 50/Month for all 3 MFs or it will be 150/month (50 for each MF) for all 3 MFs. Please clarify .
It will be helpful if you can please give more clarity regarding the benefits of Direct MF vs Regular Distributor Mode Fund.
It will be only Rs 50/month, you can buy as much and as many AMC’s as possible. Check this link: https://tradingqna.com/t/why-invest-in-direct-mutual-funds-on-coin/11738/1
If i will invest 25000 as a lump sum then again 1000 so total investment 26000
if i invest in direct i need to pay 50 *12 =600 rs
fixed per year.
while i was checking difference between direct and regular is hardly 2 % and in 1 year case hardly 1%.
if i check will these 1% of 26000 is 260 rs,
while i am paying 600 rs in subscribing coin ,
give some suggestion .
Sunny if you are going to just invest Rs 1000 per year kinds, yeah it makes sense to continue investing in regular plans. For regular plans there is no monthly fees, you can visit here: https://coin.zerodha.com/funds/non-direct
Hi Nithin,
I have been a great supporter of the services provided by Zerodha and have asked many of my friends and relatives to take benefit of your services.
However, it would be great if an article can be provided explaining the understanding of a direct plan and regular plan, their expense ratios and how does it benefit an investor with some numbers (break down). For a service receiver it is at times difficult to understand all this concepts.
Having a complete article will be really useful, helping the investor in taking decisions. Going through all the QnA becomes quite difficult.
Also, I have already made investments in non-direct plans through mf.zerodha earlier. I do not intend to sell them currently. Can I stop further investment in those plans and move to direct plans through coin.zerodha for further investments? Will it be tracked separately by Zerodha of my investments being made in direct plans and non-direct plans (Since I am supposed to be charged based on Direct plans)?
Also for example if I currently invest INR 26000 per month through direct plans (coin.zerodha) and I continue the same for 12 months. After 12 months for some reason I decide not to invest completely in direct plans. Will I continue to be charged INR 50 per month after 12 months (there is no sale of direct plan units-same is on hold)? and what if I sell and my direct plan units after 12 months?
It would be really helpful if these queries can be resolved.
Thanks and Regards
Gaurav Sekhani
Hello Nithin,
I am glad that you have come up with the direct mutual fund sell/buy platform – Coin. I have some doubts, please clear it so that I will be able to start investing soon.
1. Any idea when will you be coming up with ECS mandate.
2. As I read in earlier posts that I have to topup trading account in order to start the SIP. Please confirm.
3. Is there any charge applicable to hold/buy the mutual funds in demat account, or on sell of mutual fund held in demat account. if so please let me know.
4. I assume that after the 25K limit, Flat 50 per month will be applicable, with no other/hidden charges. It will be deducted from the trading account balance, but on what date ?
5. As long asI have enough money in trading account, SIPs will continue with no manual intervention.
Suggestion: If possible can’t we have mutual fund outside of demat account just like piggy ( an app, providing direct mf, but their charges are quite high, around 100 per SIP ). As per my knowledge we don’t need demat account to do transaction in mutual funds. Then why there is a need to hold it in demat, as forced by Coin.
Hoping you response asap …
Thanks,
Ashish
1. Working on it, next few weeks.
2. Yes, currently you have to top up trading.
3. No charges for holding. When you sell, CDSl the depository charges Rs 5.5 per transaction (irrespective of the value).
4. Yep
5. Yep
I have explained the reason on why in demat here, check it out.
When will you introduce STP and SWP ? Any plans on introducing IPO’s?
Yeah, similar to how we have simulated SIP, we can do STP and SWP with a lot of flexibility. It will take a few more weeks. Btw, for IPO’s you don’t need us, you can easily do it through your bank website and using our demat account. Check this link.
Sounds great. I will get two accounts with your guys later this week. Please work towards STP and SWP. Will offer a lot of flexibility to investors like me.
Why would anyone invest using this platform, buying directly is easier, it is not an early 2000s.
Especially if one wants to rotate money in liquid funds you would end up paying more charges than getting any profits.Avoid demat transactions and go this route only if you want to invest for a longer period.
End up paying more charges? @Rs 50/month?
Follow-up information
If nomination not registered on opening of mutual funds, investors will forget. It fetch much problem if any untoward incident happens. Hence I am reiterate you to please look into the matter.. Regards.
Since everything is in your demat, nomination on demat will apply.
Thank you, Nithin, for your clarification.
In earlier version of. Zerodha MF platform it is not available. Hence, I asked.
Now got clarified.
Thanks for immediate response.
Hi Nithin,
This is not actually happening with Coin. I have registered nomination for my Zerodha Account, I bought mutual funds Coin portal. When I check them in CAMS portal, it does not show nomination details.
Sir,
In the SIP order created by us, nomination is not being registered. We are of the opinion that whatever nomination we have given for our demat account should be registered for New SIPs/investments being taken.
Please include auto nomination also.
Today, I created an SIP, but nomination not taken.
Please include nomination. Thank you.
Bhuvaneswari, SIP on Coin is actually simulated. It is essentially lumpsum investment done in interval of your choice. Since these are in demat form, nomination on demat account will automatically come to play.
Sir,
Is the limit of Rs25000 for the new investments or previous investments moved to coin automatically will be considered as well?
If I Invest 30000 in a financial Year, It exceeds 25000 limit. so I have to pay Rs,.50/ month for Rs. 5000 extra that I invested? Dont you think it is too much for a person who does not invest that often? Like my purpose for investing in MF is for buying ELSS and I do not buy more than Rs.50000 worth of ELSS in a financial year. I have to pay Rs 600 extra every month. And I cannot opt out of this as ELSS has 3 years lock in period.
The kind of savings you’ll make by investing in a Direct fund over a regular fund will make up for the cost what you’re paying to use the platform. Plus you always have the option of making future additional investments, should the need arise.
Hi, am new to zerodha. Yet to open an account with you.
I had scheduled sip – regular plan with other distributor, but accidentally today morning I came across zerodha providing MF platform with direct plan. I called up my distributor to put my application on hold.
Just now, browsed through the MFs but some such as Franklin, sbi, sundaram missing…
What’s the proposed time frame to put them on list? If any?
We’re working on having these funds included on our platform. Would be a little difficult to put a time frame.
What is the difference between coin of zerodha and MFUtility. MFUtility is providing no charge investing.. They are not charging anything for investing in Direct plans but zerodha is charging 50/month after 25k investments.. Why??
Copy pasting Nithin’s reply to the same query “I know you are comparing us to MFU, they are a non-profit for organization, we are a business. We can sustain these things only if we can earn out of it. If you use our platform you will know how much more convenient we are compared to MFU.”
Hi team – Say I start investing through the coin platform with an SIP of 5K for 12 months. I understand that there would be no charges for the first 5 months (investment amount <25K) but thereafter a subscription fee of Rs 50 would be charged. Now, at the end of 12 months I stop investing in any schemes under Coin platform. Will the subscription fees stop or will it continue to be levied forever?
They’ll continue to get levied.
Hi Venu – Thanks for the reply. Also would request you to list down the steps to unsubscribe from the coin platform once I stop investing here so that the subscription charges don’t get levied on me unnecessarily.
Regards.
Prashant, on the dashboard of coin.zerodha.com you will find an unsubscribe button, once you have exited all direct MF.
Thanks Nithin.
Is there a plan for starting SWP option as well on coin?
I had the exact same question.. SWP and STP ?
1. If suppose, I want to invest every month 10K to 5 MFs via Zerodha “Coin” , does it mean I have to pay every month INR 50 extra apart from 50K. Total annual fees will be = (12*50) + (300-Demat) = 600+300 = INR 900. Is my understanding correct?
2. My Zerodha “Kite” account is not linked to Zerodha “Coin”, how can i get access to “Coin” account ? When i clicked on Mutual fund tab it comes up with a message your don’t have access to “Coin” account.
Suggest. Thanks
Varun
1. Yes.
2. You should have a Zerodha demat account to be able to access Coin. If you have a trading account, you can download the pre-filled Demat form by logging into Q –> Profile section. Sign the form and send it to us & we’ll open the demat account for you.
Hey Team,
I am unable to find “Mirae Asset Emerging Bluechip Fund – Direct Plan (G)” in coin. Will it be added some time later?
Thanks!
Priyanku
Yes, working on adding all.
I see. What is the expected timeframe please?
This fund is still not added? When do you think this will be available?
Anubhav
The funds has to do this. No idea, we are following up with them.
Mirae Asset Emerging Bluechip Fund – Growth fund direct is still not available?
Vignan, Mirae has stopped fresh inflows into the fund.
Nithin,
Is it possible to add my family member’s mutual funds also(existing as well as new) in Coin. I am already having SIP in your MF platform?.
Thank you,
Ah no, not for now.
I have invested in HDFC ShortTermPlan – Regular Plan via old platform. But unable to find this fund to buy again via Coin.
Ah, yeah, not all funds are yet available. Give it a few days.
Hello Nithin,
I guess my question is a little too late. But would still like to ask.
“If i were to start an SIP today i.e 31 march 2016 on zerodha, can i use that amount i have added today for tax purpose or will the units be purchased tomorrow, so will be useful for next financial year?.
thank you
Hi Vinayak,
You can place an order today before the cut-off time of 1:30 pm and claim tax benefit on the investment amount for this financial year as you will be receiving the units for today’s NAV price. But, make sure that you place the order before the cut-off.
Hi.. thanks for the info…. But I called the zerodha costumer care… They said units will be purchased only so will not be useful for tax benefits for this year… So I made other arrangements … So no problem?
Hi.. thanks for the info…. But I called the zerodha costumer care… They said units will be purchased only toso will not be useful for tax benefits for this year… So I made other arrangements … So no problem?
Hi,
Is this OK to use COIN platform by NRI individual and invest with his/her NRO account? or legally I am not allowed to invest in equity /MF using zerodha’s platforms?
Rgds,
Harish
Currently we are not allowing NRI’s to invest in MF through us because of some PIS issues. We are working on it though.
HI Nithin,
I think its better to have a separate page for NRI’s in zerodha.com, the rules are getting changes every time. And NRIs not sure what they allowed what not. I wish the page should have info what zerodha allows for NRIs. Like whether MF allowed or not if allowed which fund AMC allows, if allowed to buy stocks , the procedure to buy from NRO,NRE.. and details like what happens to existing MF investments and existing stock investments ( bought when resident), How they will be transferred to newly opened demat with NRI status…. etc.
Adding on my list.
Hello Nithin,
Any timeline for us- NRI’s? I find Coin a much convenient single place platform for MF investments. But the market is not going to wait for us forever. Please please expedite.
Regards,
Mahesh
Dear Nithin,
We have been chasing a reply for so long. Can you please let us know when NRIs can finally invest via COIN?
Regards,
Mahesh
Hi Nithin,
eagerly waiting for new backoffice Q…
as far i remember it right – you promised around march end.
Is things working as per plan or more delay here ?
We will have an update by weekend, complete replacement will take a little longer.
Team,
Will Zerodha also charge the AMC of Rs 300 apart from Rs 50/month fee for mutual funds?
Yes, the AMC is on the demat account.
Thanks Zerodha for providing this information. This is much required information to be known to all investors.
i have one query, I had invested few mutual funds through camsonline.
Is camsonline is also a mutual fund distributor and deducts the fees which were discussed above?
Mycams is direct, buy direct in demat is better. Check this answer.
Hi sir,
I have 3 funds in SHAREKHAN below are the details:
1) SBI Blue Chip Fund – Growth[SB121]
2) Motilal Oswal MOSt Focused Multicap 35 Fund – Regular – Growth[MO032]
3) DSP BlackRock Micro Cap Fund – Regular – Growth[DS121]
i would like to invest in same funds in ZERODHA COIN, but i did’t find in COIN. Please help me to invest.
Thank you,
1. Should be up soon.
2. Will take time
3. DSP has stopped taking fresh purchases for this.
Hi Nitin, I have already made an investment of 1.5 lacs through distributor model of Zerodha in ELSS this month. What are the charges I have paid and what are the charges I will continue to pay for next 3 years (since thats the holding period).
You would not have paid any charges directly. The AMC would have from regular fund AUM deducted and paid out to us. Depending on the fund, between 0.75 to 1.5%.
Would there be any recurring charges every year for the next 3 years for ELSS Mutual Fund
Nothing from our side if it is a regular plan like yours. But AMC will have higher expense ratio. Check this link.
Do you allow to invest in all the 2000 direct mutual funds you mentioned on your website?
Apart from 300+600 per annum charges, do you take any other charge like money transfer charges or transaction charges or anything else like that?
Yep all 2000. You have to transfer money to your trading account to purchase, if you use the payment gateway they charge Rs 9/transfer. If you do NEFT/IMPS etc, it is free. Check this: https://zerodha.com/fund-transfer
Thank you Nithin for quick response.
You didn’t answer my question like apart from regular 900 and transfer charges (not by you, by payment gateway actually), do you charge anything else?
Nopes, we don’t charge anything else. Since mutual funds are in demat form and sitting in CDSL (central depository), they charge Rs 5.5 per stock/mf when redeemed/sold. Five rupees irrespective of the value sold/redeemed.
Just a suggestion- It would be nice to have a common dashboard for all my investments (in stocks, mutual funds- debt, equity) with percentage allocation to each asset class on my dashboard… zerodha could become my one stop solution for all my investments.
And another question on mutual funds in demat mode- are there any seperate charges when i enter or exit mutual fund units from the demat account in zerodha, ( apart from the 600 rs annual maintanance charge and 50 rs monthly charges) ?
Yes working on that dashboard. Since demat with CDSL, they charge Rs 5.5 everytime you redeem, irrespective of the value.
Say, I have MF investment totalling to Rs. 5 lacs. If I shift them to Coin, my charges will be ₹600 per year. Any new investment I make no extra charge, everything gets covered in said ₹ 600/- I endup saving approx. 1% of ₹5 lacs as lower expense ratio in direct funds. Correct me if I am wrong in understanding your deal. Many thanks.
Yep, 1% of 5lks and any future investment every year can be saved.
Hi,
The SIP option of Zerodha isn’t a true SIP as provided by the AMCs. It’s a lumpsum investment made on your behalf for the specified amount.
Nithin: Isn’t it?
Yep, hence gives us a lot of flexibility in terms of setting a rule engine. You can set your own dates, change amounts at will, start/stop whenever you want, etc.
If I have existing Direct fund holding would they be counted towards 25K limit?
No, only those bought through coin.
Hi Nithin,
If we buy direct mutual fund then you mean to say we will not incur the expense ratio designated for that fund?
For example there is an expense ration of 1.99% for some XYZ mutual fund, so in direct mode this expense will be 0%, Is this expense ratio you are calling as upfront commission and trailing commission? I am bit confused with different charges being called out in different naming. can you please help to understand this? Thank you very much.
yes, direct funds have much lesser expense ratio since distributors are not paid any commission from your investment for selling them. Check this link.
Hi Nithin
This is a great addition to value services by Zerodha,
I am aware of the direct funds and I have invested in them through few AMCs. Is there a way to add those details of my earlier investments and see my portfolio in coin?
As you mentioned its highly inconvenient to track investments through multiple AMCs and I wish to continue my investments through coin.
It will be great if you create an app for coin.
Thank you
Ah makes sense. Adding this on our list.
Hi,
Yes. I’ve also done some investment in direct mode MF through AMC’s. It will be very helpful if I could transfer those investments/funds in my COIN account (once you guys add those funds in COIN as they are not added yet).
Thank you!!!
Hi,
Shouldn’t you consider keeping the charges a bit low from 50/- ?
I think 30/- looks fine from all segments of investors..
Yes I agree with Namish, because we are already paying 300/- per year for trading account charges and on top of it if your add this 600/- then totally it becomes 900/- per year. You can consider reduce the charges little bit. Thank you.
Rs 300 AMC for demat is kind of unrelated to this. You can hold stocks for any value for as long as you want without us earning anything. There is an operational cost to maintain those demat accounts.
🙂 hmm… do check this link
I need to invest 1.5 lakhs as tax saving for financial year 2016-17. Do you mean that I will be paying 50rs per month for next 3 yrs to keep the mutual fund here?? which is like 1800 rs for 3 months, ie almost 1.2% brokerage ??
Just to add up to my comment. Whatever the plan is I will keep investing(mutual fund) with zerodha only. I find this as simplest and most transparent platform. Also thanks for such amazing customer team.
Sumit, If you are doing 1.5lks this year, I am guessing you will do more in the next two years as well. This Rs 50/month is irrespective of value of your MF. Rs 1800 is for 3 years. If you invest in regular plan, assuming you have just this 1.5lks, you will pay 1% as upfront commission, 1% end of every year as trail commission. At end of 3 years, if the value of your investment is more, you pay 1% of that value as trail commission. With ur direct plan, you pay 50/month irrespective of all of this. Works much much lesser. Check this Q&A
Thanks Nithin.. Convincing enough.. Done my investment through Coin 😛
Hi
Its nice to have a new platform like coin to trade with. But I have a querry. I have 2 elss funds brought in feb 2017, how do i change it from regular to direct. I cannot stop those elss as they have exit load and are for 3 years lock in period. what should i do.
Please suggest .
Saurav, if it is ELSS, you can’t do anything. The next lumpsum or SIP, you can stop regular and start with direct.
Cool !!!Thanks nitin☺
Really impressed with the work u guys have been doing
Hi
Its always nice to see a new plat
sir, can u plz let me know if indiabulls ultra short term fund will be added in the direct funds category?
if yes then can u plz tell when will it be available? thanks!!!
It might take some more time. We are working on getting everything on.
Good initiative.
Suggest keep liquid fund out of 50 pm charge structure on coin in order to facilitate parking of extra money by traders/ investors (Shifting money in the ledger has its own charges either using your platform or bank’s gateway).
Tough to keep certain funds out and all. If you have transferred money to trading once, there is no more gateway charges.
Hi Nithin,
Many more funds like SBI Small & Mid Cap, Franklin (I) funds are not available, why shall I pay 50 Rs for only 1 or 2 funds when choice of our all funds are not available in COIN ??
In fact SBI Small & Mid Cap is not available in Regular plan also !!!
Yep, we are working on getting them all. I guess you can hold off paying Rs 50/month until these come on coin.
Nithin,
What do you mean by hold off paying 50 Rs. Some Popular and great performing funds mentioned below are not available in coin so why shall I pay 50 Rs for only for fewer funds available now. I won’t mind paying 50 Rs but choice of all funds as mentioned below should also be available.
Mirae Emerging Bluechip Fund
Principal Emerging Bluechip
Franklin (I) Smaller Companies
SBI Small & Midcap fund
Rahul, we use exchange platform for buying direct MF in demat form. We are currently showing all funds which are available on the exchange platform. If the AMC themselves haven’t listed certain funds, nothing much we can do. We are following up with the AMC’s to list them.
Hi Rahul,
Some Direct Funds of few AMCs will be available soon on the platform. We are working on getting these schemes at the earliest.
Also, if you are not aware SBI had temporarily suspended fresh investments in SBI Small & Midcap fund on October 30th 2015. You can read the article below to verify the same.
http://www.financialexpress.com/market/sbi-amc-not-to-take-fresh-sips-from-today/158715/
Hi,
I have few doubts regarding the 50rs/month charge after the initial 25K investments which are not charged.
a) I have bought few MFs through zerodha itself and none of them had any upfront payment, though they have nearly 2-2.5 % of expenses charges yearly and 1% exit load if exited within 365 days. Now are you telling that the expenses charges and exit load will not be applicable from now on ? and only flat 50rs/month once I started buying through coin platform ???
Srinivas, any new investments from now will be in direct. The ones you have invested in, will continue to be regular. When you start buying afresh on coin, after your next Rs 25000 of direct investments, Rs 50/month is charged.
If AN investor starts a SIP of 100 ₹/month with initial Amount of 25K for 20 year in HDFC MID CAP FUND-Direct Plan through both Place….
(1) HDFC’s AMC site
(2) ZERODHA COIN site
after completing 20 year Investor’s Actual total investment value is different in both Place….
(1) in AMC platform your actually invest Amount is 25000+24000= 49000₹
(2) in ZERODHA COIN platform your actually invest Amount is 25000+12000=37000₹ (because ZERODHA COIN monthly charge is 50₹/month, after exceed total invest Amount 25k)
#Conclusion :-
MF – AMC is better than ZerodhaCOIN platform if anyone not want to pay 50₹/month extra charges….
===========================
Am I right Dear NIKHIL?
Veer, like I have told like 10 times, there is no compulsion for any client to use coin. If you liked our earlier regular model, click here. Why direct through Zerodha and not AMC website, here is the link.
Coin offers investing in direct mutual funds (we earn 0 commission from your investment) with convenience of being in demat. So single portfolio across stocks, MF ( over 26 AMC’s and 2000 funds), ETF’s, Bonds etc.
Easy SIP, start stop whenever you want without any NACH requirement. Increase or decrease SIP values at will.
NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
MF in demat form and hence fungible. Extremely easy to pledge and take a loan against in case of emergency.
Single capital gain statement, P&L, visualizations, and more.
And yes this would cost Rs 50/month extra. But if these are not things you appreciate, you can just not subscribe to coin.
Dear Nikhil,
I want to connect & stand with ZERODHA and trust on it …but I think that
ZERODHA { Zero Rodha (barrier)} philosophy is not matching with Coin’s Charges Theory…
Hey Veer, you keep referring me as Nikhil, my name is Nithin :). I know you are comparing us to MFU, they are a non-profit for organization, we are a business. We can sustain these things only if we can earn out of it. If you use our platform you will know how much more convenient we are compared to MFU. Like I said earlier, to use or not to use this platform is upto you. Best.
I didn’t understand saving in 1% upfront & trail commissions in MFs. In the funds we buy through brokers, we never get charged from our investment amount.
Is it that the MF plan choice itself Zerodha changes from Retail to Direct?
Is that the only difference between retail & direct plans, therefore resulting in savings of 1% p.a. compounded y-o-y?
Please clarify.
Yatish, can you check this link, I have explained in detail.
If this direct mode is good then why cant I start SIP in SBI Bluechip fund. I want to invest both in SBI Bluechip fund and Kotak Select Focus Fund. One is available in direct mode and another is not. Please help me the wayout to invest in both.
Thanks !
We’re getting more Direct funds onboard Coin. Using Coin, you’ll be able to buy both direct & regular funds. Scroll to the end of the page to explore the various direct and regular funds that we have to offer.
Hi Nithin,
First of all congratulation on this new move. Thank you for bringing Direct MF in Zerodha.
After going through the Q&A above and having my understanding of the below statement on COIN home page, , I made the following calculation, Please correct me if I am wrong ?
**** Flat fees of just Rs 50/month for subscribing to Coin irrespective of number/value of MF transactions. Moreover, your first Rs 25,000 worth of investments is absolutely free.****
Non-DIrect vs Direct (COIN)
Monthly Investment 5000
Duration 25 Years
CAGR 15% 1.64 Cr
Commission 30 lac
Corpus % 20%
For the Same MF purchased via COIN (Zerodha)
Subscription Fee = 14700
1st Year 300
Remaing Period 14400 (50*12*24)
SO, if I am holding multipe MF , the moment my total SIP investment cross 25K , I will be charged 50/- per month as the platform subscription fee, and it wont be charge per MF .
Regards,
Vishaal
Yep, correct. I have explained in detail here.
Thank you … 🙂
Yes, you’re right. The charges are only Rs.50+ST.
Hello Nithin,
How are you? I had a request regarding profit/loss in positions.
At the end of day, I think it will be good to see P/L after all brokerage/taxes etc. I agree there is brokerage calculator, but it won’t be accurate if trades are many.
May be additional link when clicked shows a dummy contract all the time ;-), would love this feature.
Thanks!
We’re rolling out the new version of our backoffice soon in which you’ll be able to generate P&L reports tradewise.
Hello
I’m interested in direct plan of “Mirae asset emerging bluechip fund” and “principal emerging bluechip fund”. Are you guys planning to add these MF’s in coin in near future? should I wait ?
Thank you and great service!!!
We’re getting more schemes onboard. You can track all available schemes here: https://coin.zerodha.com/funds
Hello
I have 1 query –
Funds like – ‘DSP BlackRock Micro Cap’ OR ‘Mirae Asset Emerging Bluechip’ which had stopped their further SIP investments..
Is there any chance of investment started again on such funds.. If yes…Any idea when further sip will be re-started
OR further Investment is permanently stopped ?
It’s the AMC’s prerogative to accept/stop fresh investments. We wouldn’t know.
No clue, it depends on the fund manager when he is comfortable accepting more funds.
Mirae asset Emerging Bluechip fund is accepting SIP investment, they have discontinued accepting Lumpsump investment. I confirmed it from them.But in Coin I cannot see the Bluechip fund listed. Can you pls confirm when we’ll see it?
Mirae asset will take time. They are still not ready for direct in demat. Whenever they are, it will show up.
Hi Nitin – Any idea from when zerodha coin will list/allow SIP investment in MIRAE ASSET EMERGING BLUECHIP FUND and FRANKLIN INDIA SMALLER COMPANIES FUND?
Both these AMCs haven’t enabled direct in demat form yet. WE are following up with them.
Firstly, Congrats Coin/Zerodha team for taking this step!
Few questions:
a) Will I be able to set-up Switch/STP/SIP on Coin?
b) Are all AMCs supported?
c) How can I shift my existing Regular-MF holdings here? Quite a few of them are short-term in nature and hence don’t want to sell and re-purchase.
d) Do you have family account support?
e) Are there are no transaction charges and truly just a flat fee of Rs. 50/month?
Thanks,
VP
f) Is the Flat fee of Rs. 50/month an introductory fee and bound to go up in the near future?
We started charging a brokerage of Rs.20/order way back in 2010 and are still stuck to charging the same 🙂
No plans to increase. We have been at Rs 20/trade for 6+ years. We went 0 brokerage on equity investments two years back. No rate increase anywhere 🙂
a. SIP on coin is simulated, it is essentially a rule based lumpsum investment. So yeah you can do all of that and more. Check this post on how the easy SIP works.
b. Over 20, more coming soon.
c. You will have to dematerialize and then move it. But if it is regular, switching to direct is as good as exiting and re-entering.
d, Currently no, but we will
e. No transaction charges, just this Rs 50/month. But since they are in demat, every time you redeem CDSL charges a transaction fees of Rs 5.5, irrespective of the value of investment as DP charge.
Excellent initiative as always, lot of people think about it and you guys make it happen.
I would love to move all my existing mutual funds to coin, is it possible or do I need to generate a new folio number( that would be too much work :))
Thanks
:), you can move all your mutual funds, no need of new folio. You will have to dematerialize your current MF though.
Think either you ( or someone ) in your team should write a blog post on what does dematerialize of existing MF mean? Essentially some kind of a guide on how should I move my existing MF investments and SIPs to Zeordha Coin.
Check this Saket.
For all those who are wondering the advantages of coin.zerodha over mf.zerodha, here I present my understanding and analysis.
1. The NAV of direct is different from NAV of Regular. For eg. NAV of Reliance Tax saver (ELSS) fund on 27th March 2014 was 27.92 for direct and 27.72 for regular.
2. So, Assume, I had invested Rs.50,000 on 27th march 2014, I would have got 1790.831 units in direct and 1803.752 units in Regular. (This seems disheartening. pls wait.)
3. Now, after 3 years, on 28th March 2017, NAV stands at 55.75 for direct (99.68% increase from 27.92) and 54.07 for regular (95.05% increase from 27.72).
4. So, had I opted for direct option, my investment value today(28-march-2017) is Rs.99838.8. In regular option, my investment value today is Rs.97528.8.
5. Thus, I had lost nearly Rs.2309 by not availing Direct option.
6. Now, for these 36 months, zerodha is asking for a commission of Rs.1800 (36*50/month), for providing us the single point contact for all your MFs.
* Here I assumed two things, one, I didn’t make any investment for the next three years, which is not the actual case. Two, the fee of Rs.50 remains same for three years, which may not become true.
7. My take: If you are a fan of a single MF only, then go to the site of that MF itself and invest. If you are like me, on diversifying the MFs, but lazy enough to go to their sites individually and track, then, coin.zerodha is a good option.
8. My suggesstion: I hope nitin will work out on the same calculation on SIP and show the people about the influence of coin.zerodha. (Until then, I cannot recommend coin.zerodha for my SIP investor friends).
I have tried to explain it here.
absolutely correct
i completely agreed with you
Hi,
If I start investment in direct MF through MF utility platform and update my depositary details over there, can i see a consolidated MF statement on coin platform?
No, investments made through the MFU platform will not show on the Coin platform, they would show up in your Depository statement though.
There is unreasonably long delay in crediting MF holding with dividend reinvestment units on your platform. Dividend units allocated on 27/3/17 by the AMC do not appear in MF holding on coin even by 29/3/17 11:40 am.
There is a DP charge for each redemption request, I need to redeem entire unit balance and would be forced to bear it multiple times for no fault of mine in addition to the lost opportunity.
Please fix this issue. Support team (Venu copied) has been intimated about this.
Appreciate quick response from Venu!
Anil, this is an issue we are facing from BSE star MF platform We are working on fixing it with them. You could maybe until then buy the growth option of the fund.
Thanks for starting COIN.
While most of the comments are focused on an insignificant aspect of Rs 50 pm charges. I have a few questions will be great full if you could answer them or someone please point to the link, if they have been answered already.
1) There is no buying or selling charges say Rs 20 per trade + taxes + other charges etc
2) After a Buy order has been placed how much time does it take for UNITs to be credited into the demat account? I understand the money is debited from the trading account.
3) After placing a Sell order when is UNiT debited from the demat account? Are there any charges levied by depository on this transaction ?
4) When is the money credited to my account ? Please clarify where does the money go – Bank account or trading account with Zerodha ?
1. No charges
2. Depends on the MF u r buying. From 1 to 5 days.
3. Unit debited same day, yes CDSL charges 5.5 for debit transaction.
4. Money goes to trading account, works exactly like stocks. Money credited to trading as soon as AMC pays out through the stock exchange.
Hi Nikhil,
Great job in cutting distribution industry overnight. India has too many middlemen everywhere. We need companies like yours to get rid of the fat.
Rs 50/month a months sounds high by Zerodha standards. Average difference between expense ratios of direct and distributor plans is about 1% for equities and 0.5% for debt. If someone is doing Rs 10,000 SIP per month with 50% going to debt and 50% going in equities will save about 0.75% in expense ratio or about Rs 75 every month. He will pay 50 to you plus any demat charges. You guys are not known for hidden charges so I am not counting those. Essentially beyond 10k / month one starts to save. Convenience of one stop shop is what you guys are offering at this price which is worth much more than 50/month.
I have one question though. I have both equity and MF units in my demat and I frequently switch between equities and debt depending on valuations and opportunities in equity markets. Today, I can sell my equities and by MF on the same day but I have to wait for MF payout before I can buy equity. Can you address this anomaly?
Ideally, you should let clients sell MF and buy stocks on the same day as payout of MF will happen on the same day as pay-in of stocks so these two should settle together.
Even if MF payout is after stocks pay-in, you should provide margin funding for those days (should not be more than 2-3 days or even less for liquid funds). This will help clients take advantage of opportunities in equities and you will earn interest.
Long long term investors regularly move between equity and debt depending on valuations and opportunities in equity markets. However, if I have to wait for my MF payout before buying stocks, the opportunities in stocks will go away (or substantially erase) as stocks are much more volatile than debt funds. Its high time technology brokers like Zerodha do seamless settlement between various entities.
As a broker, you should provide seamless transactions across all the securities (equities, derivatives, MF, currencies and commodities etc) irrespective of which entities these transactions are settled with.
Using MF payout to buy equity, it is a little tricky, but is on our list of things to do.
Hi,
For SBI – AMC, I could see only 1 MF [ Magnum Multicap ].
Question: by what date, the other SBI Funds will be available under direct mode on COIN ?
Will come soon.
i already have account for Mutual Funds with NJ Wealth with investment around 61000 in 4 schemes of RS 5000(2000+1000+1000+1000), can i transfer those SIP s to coin platform and if does what charge is levied on that, whats the charges for Now and future on that schemes, Please reply..
You will have to stop the SIP and start afresh with us. No charge for it. You can transfer your current investments into our demat, we dont’ charge anything for that.
अगर ZERODHA का कोई client MFUTILITY Portal के through All Mutual fund के Direct Plans में पहले से invest कर रहा है वो भी free of charge…… तो वो client क्या सिर्फ इसलिए ZERODHA को 600₹/year दे की वो उसकी mutual fund holding को stock holding के साथ एक platform में देख सके….i means MF holdings को सिर्फ Stock holding के साथ देखने का charge 600₹/year….. Very uncomfortable & unjustified….
Was just writing this on tradingqna,
Easy SIP, start stop whenever you want without any NACH requirement. Increase or decrease SIP values at will.
NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
MF in demat form and hence fungible. Extremely easy to pledge and take a loan against in case of emergency.
Single capital gain statement, P&L, visualizations, and more.
And Veer, there is no compulsion to use the product if it doesn’t fit the bill for you.
Best,
Hi Team,
Just wanted to clarify a doubt, say I have a SIP of Rs 5000 every month, I will be charged Rs 600 i.e. (12*50) for the investment made.If I plan to increase my SIP to Rs 10000 next year I will still have to pay Rs 600, the next year, as maintenance charges. Say I stay invested on zerodha for 30 years then I will be paying Rs 18000 (12*50*30) as maintenance charges.
I shall not have to pay the upfront and trail commission on the mutual fund that I buy and will get it on the same rate as listed on their website.
Thanks
Yes, correct. Also check this section, have explained with an example.
I got some MF’s transferred in my name post my fathers death. He had bought them 5+ years back. What would you recommend? Should I sell them and buy new one’s in the direct plan / just de-materialize the folios. Would exit load be applicable? (the name transfer happened 5 Years).
If exit load is not applicable, you can just redeem and purchase into direct. If it is, give us some time, we are trying to see different ways we can help convert regular to direct plans.
Hi Nithin,
I did not find the below listed Mutual Funds
1. Birla SL MIP II Wealth 25
2. Franklin India High Grth Companies
3. DSPBR Micro Cap
4. Sundaram Rural Fund
5. Franklin India Smaller Companies Fund
Please let me know if these will be available on coin soon.
Thanks in advance.
Yes, working on getting them on.
Absolutely brilliant move…
i seriously think zerodha needs to advertise this in media big time..
also in the long run, i would really like to see zerodha offering all mutual funds direct or regular so that ppl will not need multiple brokers/account..
Vishal, we have listed out the regular plans as well: https://coin.zerodha.com/funds/non-direct. Yes, all funds should be available direct in quick time.
This is great product Nithin. I was having accounts with multiple AMC and it was a mess managing all of them. I was waiting for something like this and hence never used mf.zerodha.com. Will be using Coin for all my new MF transactions.
From the comments I can see that it is sometimes easier to make a great product then sell it :).
🙂 phew…
Hi Nitin,
Is there any plan for future to combine Kite and Coin as one mobile app to have a overall picture of portfolio ?
Thanks, Vignesh
Yep.
It’s funny to see Behavioral bias – the Regular MF scheme charge us much more but we don’t “pay” it upfront so we are OK with it, instead of using Coin which saves us money but we seeing “paying” (which a lot of people are debating about in the threads)
the way we “homo sapiens” think…. 🙂
We forcibly had to put the link to our previous regular funds too, by popular request. 🙂
Amazing, but good for your business – Zerodha will get the upfront and trailing commissions 🙂
Any plans of listing Zerodha on the exchanges ? 🙂
No plans of listing on the exchanges anytime soon.
Hi Sir,
I have 3 SIPs of 5000/month each & started 4 months ago, is it possible to continue in coin without cancelling?
If I cancel & started in Coin , Is it considered as new SIP? & starts as 1st month?
yes you can continue the previous ones without cancelling. Yes if you stop previous SIP an start afresh on the direct funds on Coin, it will be considered as a new one.
First of all a very big thank you ! started Zerodha just a few days ago and happy to see this pleasing update … the difference between regular and direct plans is explained very well on YouTube , hope you too post such a video so that everybody understands the difference easily .
My only request is ,please tie up with andhra
Tie up with Andhra Bank so that I can add funds directly into my account.
Nitin, Good to see Debt funds on the platform. Do they also add similar costs (trailing commission, etc.)? Also, I find Franklin Templeton MFs missing in the list. When can we expect them?
Debt funds have lesser commission sharing, but yes they do, both upfront and trail. Franklin hopefully in two weeks.
Franklin Templeton funds are yet to appear on coin (direct). But regular plans are available. I wonder why the delay.
Also missing are Escorts.
Never knew about upfront and trail commission before reading this despite my long time familiarity with MFs. Thanks for that. Oh wait, Zerodha, you never mentioned these commissions when you launched mf.zerodha.com! :–)
Anyways, good luck with coin.zerodha.com.
🙂 Ragu, there was no other way to sell earlier.
I totally understand that conveying what differentiates your product from others is what matters from business point of view.
Hi Nithin,
Congratulations on this pioneering effort. This is the first platform that provides investment in direct plans across different mutual funds. Until now investment in direct plans across different mutual funds was painful as the investor would require as many online accesses as funds invested into. This is a game changing facility for investors to be able to invest in direct plans of different funds from one point with only a single online access and that too at a very negligible cost of Rs 600 p.a which again I should say is a pittance compared to the huge difference in the returns. Most banks/platforms charge this amount or more as fees over and above the upfront and trail commissions. I wonder why investors are still raising questions. Kudos to you and your team for this wonderful offering.
I was in your office today for a meeting with smallcase and would have been happy to meet up with you. Regards and all the best.
it is good initiative but should have made chargeable with relaxation of atleast 50000 each year
i mean plan should be like this if some one invest upto 50000 no charges each year
and if only he exceeds the limit he have to pay
or it may be like a genuine price for each transaction not for holding charges
Rajiv, the business also has to earn to survive isn’t it? 🙂
Dear but this is not the way to earn. why will people pay 600 / year if they have a clear option to invest in direct funds
🙂 answered here.
Coin offers investing in direct mutual funds (we earn 0 commission from your investment) with convenience of being in demat. So single portfolio across stocks, MF ( over 26 AMC’s and 2000 funds), ETF’s, Bonds etc.
Easy SIP, start stop whenever you want without any NACH requirement. Increase or decrease SIP values at will.
NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
MF in demat form and hence fungible. Extremely easy to pledge and take a loan against in case of emergency.
Single capital gain statement, P&L, visualizations, and more.
While redemption in liquid and money manager funds as well as SWP (Systematic Withdrawal) transactions demat will be not be convenient as every time we end up paying cdsl as well a debit transaction charges of demat. Also we can’t get ATM card (like Reliance AMC is providing). For equity funds demat is OK. Also commission for liquid funds to distributors is nearly zero.
Thanks
hey Nithin,
I actually wanted to start an sip for about 38 years so i just wanted to know how would my holdings be protected for that long period if something bad was to happen to your coin venture.
Nitin, the MF is in demat form, so they all sit in your CDSL demat account. CDSL is a depository, so they are as safe as they can get forever.
THANKS FOR THIS PLATFORM. JUST NOTICED TODAY & STARTED MY FIRST 200000 OF INVESTMENT TODAY ITSELF. PLAN TO SHIFT FROM OTHER PLACES, WHERE I AM INVESTED FOR NOW. I AM CERTAINLY GOING TO INVEST MORE.
Mr. Kamath, I am an IFA and please explain which fund houses pays u 1.5% upfront plus trail… Its a good initiative but don’t spread false information.. U people r charging 50rs plus demat n all…. Those who has knowledge are fine to go for direct but majority people still lacks info about this industry.. if an ifa is doing tht whats harm in that.. people been doing LIC in India.. just check the commission, you people will faint.. an IFA will only earn if people stay invested for long term where there is no lockin n change of broker option.. what e d possibility u knw better thn me…wish u all the luck
Hi Dobal, we are not an advisory, we are just providing execution platform not an advisory. The market is big enough for both IFA’s, distributors, or execution platforms like us. Arent there so many funds giving over 3% upfront and 0.75% trail.
Thanks Mr.Kamath for your reply.. Totally True tht the market is big enough and also I appreciated your initiative but been a IFA for more thn a years I never got 3% though i work on a totally trail module where the commission ranges from .75 to 1%.. but the thing is we never checked the comsn n provided funds to clients.. they has been privided as per their need.. My only reques is to pass correct info to people, as u been a role model for traders industry.. Thanks n wish u all the luck
BSL top 100, BSL advantage fund, BSL Midcap fund, BSL Balanced 95 -3.3% upfront and 0.75% trail. Thanks and best of luck.
So based on these four funds u have generalised the over-all commission.. Wow ?..Keep it up Mr. Kamanth..
And hence the words “Upto” my friend.
TGhe Nitin’s statement may even be an understatement. Here is an example:
This amount ranges from Nil (eg. gilt funds, arbitrage funds and liquid funds) to 4.00% (eg. Tax plans). But for an generic equity scheme, the distributor gets around 0.50% to 1.00% commission up-front as one time brokerage.
Trail commission
Most of the equity schemes offer 0.50% to 0.75% trail commissions. Some long term plans like Child care plans offer 1% trail commission. The amount of trail is less for debt funds (about 0.25% to 0.50%) and even less for liquid funds (about 0.05%).
Additional Payout for B15 Business
If the buyer is from a smaller city (out of top 15 cities), most mutual funds offer additional 1.5% brokerage on equity schemes, about 0.75 % to 1.4% on hybrid schemes and 0.50% on debt schemes. This is an additional payment other then the one time brokerage and trail commission.
Following is a picture of commission structure for ICICI Prudential Mutual Fund for equity schemes.
Given below is the picture showing you commission for hybrid and debt schemes.
Please note that these commissions are not always fixed. Every once a while, fund houses try to promote some specific schemes and pay about 1% to 2% extra commission to get investment from investors in that scheme.
for detailed charts can see the following link, for an example.
http://www.how2invest.in/how-much-commission-mutual-fund-agent-gets/
Hi,
I already have SIPs for 3 mutual funds and 1 ELSS fund, according to this article I have to redeem these investments inorder to convert them from distributor to direct.
Okay , I can do this for the 3 mutual funds. But how can I do this for my ELSS scheme as there is a 3 year lock in period.
Regards
Mani
That’s correct. ELSS you can not shift before lock in expires. As for other MF’s too, tax angle will also come in play, and you can redeem only after 1yr/3yr. as the case may be. Even then in some cases capital gains tax will come into play to deter you from shifting already invested amount. But even then, the idea is brilliant, and would ultimately save you money ( that you were not able to see , till now).
Also the issue of applicable EXIT Load will have to be considered, if any.
Hi Sitaram,
This is little embarrassing, but can you please tell me more about exit loads.
To my knowledge, if there is a exit load of 1% (which I think is the case for most of the mfs ) that mean the fund keeps 1% of my profits is that correct ?
Also, I have started my SIPs in November 2016 so is it better to redeem them in Nov 2017 and escape the tax and exit load and then start fresh with direct ?
Thanks in advance
Regards
Mani
Mani, you will not be able to convert the ELSS. All your future ELSS can be made using direct.
Hi Nithin,
Thank you for responding.
When you say “your future ELSS can be done using direct” do you mean my future SIPs or do you want me to pause this ELSS scheme for now and start a new ELSS scheme.
Also, Can you please ask your team to come up with a work around for ppl like me.
Regards
Mani
Yes Mani, you will have to stop your current ELSS and start a new ELSS under direct mode. Unfortunately no work around for this.
Dear Nitin,
Congratulations on bringing the direct platform at Zerodha. I had heard about commission of 1-15% but upfront and trail commission is news to me, thanks for sharing the same with us. I’d like to know if you plan to bring personal advisory (with fees/without fees) on board to the coin platform? There is ORO wealth which provides a similar service. Would love to hear if you have any plans ahead for the same.
Advisory, will take time.
Thanks for the revert. Looking forward to it. 🙂
But ORO charges huge fees, as below:
ORO Pay as you go ORO Gold ORO Platinum
Account Charges Free Rs.2,000/Year Rs.10,000/Year
Free Wallet Credits – Rs 2,500 Rs 12,500
Transaction Charges
Liquid Funds Free Free Free
Purchase/Switch/Redeem(1Lakh) 0.1% of Volume 0.1% of Volume 0.1% of Volume
SIP/STP/SWP(2Lakhs/Yr) 0.1% of Volume 0.1% of Volume 0.1% of Volume
Advisory
ORO Top Picks Free Free Free
Goal Tracking Rs.500 / Goal Unlimited Goals Unlimited Goals
Stock Basket* Rs.500 / Basket Unlimited Baskets Unlimited Baskets
Portfolio Health Checkup Rs.500 / Checkup Unlimited Checkups Unlimited Checkups
So it is ultimately no benefits to you.
Thanks for sharing.
Dear Mr Kamath,
I didnot understand the how it is different from mf.zerodha.com. As you said that Mf.zerodha.com is run on distributor mode. coin.zerodha.com will run on direct mode. If that is the case,I had bought more than 1Lack amount of MF’s. So I was charged 1.5% of my investment by mf.zerodha.com. Where would i get the those details of How much i Was Charged for buying and selling of MF’s.
For the case (Every month 50 rs)
How it is different from other providers? I believe they are not charged for monthly. Its once in year.
Suppose If i invest 26K in mutual funds by coin.zerodha.com,i Have to pay 600 per year. Its a 2% on the investment amount.
you are indireactly makeing people to foolish.
Please let me know where can i got the details of that i was charged 1.5% of my MF investments by mf.zerodha.com.
Regards,
Shiva Oleti
When you buy mutual funds, the fund house charges an expense ratio. This expense is applied to the NAV everyday. Every fund has a regular and direct option. The expense ratio of regular is higher than direct. This is all done by the AMC, in case of regular they pay commission from the NAV to distributor, in direct no commission is paid. So Direct funds with lesser expense ratio performs better. You can check out the scheme documents for any fund, you will see the expense ratio. This 1.5% upfront and 1% is not charged to you, it is charged to the entire fund.
Shiva, maybe you should google for the difference between direct and regular funds. If you consider regular funds are better, you can continue to invest in the same way without paying Rs 50/month. We will give you a link on the footer of coin website to invest in regular mode in some time.
1. I have invested 40,000 rs in ELSS plus 40,000 rs in small and mid cap funds. Now you have introduced these direct plans. So what will be effect on my previous SIPs? I can’ t redeem my ELSS MFs, as it is locked for 3 years. So, it will remain in my portfolio for minimum 3 years or it is compulsory to sell it right now?
2. Is it possible to continue SIPs with regular plans (if i am not interested to go for direct plan right now) , or its compulsory to go for new direct plans?
3. If possible, provide both the plans simultaneously, regular and direct.
1. Your existing portfolio, you can continue to hold. If you want to switch to direct, you stop the current SIP and start new ones under direct.
2. Yes, you can continue.
3. Yes, we will have that option by end of day.
Hi Nithin,
First of all , myself being a software developer I want to congratulate and say thanks for great product. I am learning into trading for last 3-4 years.
I have 2 MF in my portfolio.
1. ELSS -> Axis Long Term Equity Fund (5K per week) – Non-direct
2. SBI Blue Chip Fund – Growth (5K per week) – Non-direct
I have read you previous conversations and stopped my sip and placed redeem order on both of them.
I will starting 2 new sips with direct options with same amount from this week.
Please correct me if wrong.
1. I will be getting my money back from SBI Blue Chip Fund on T3 day , right ?
2. For axis corpus i will have to wait for 3 years and after 3 years what is the procedure.
If I need it urgently, what will the charges i will have to pay?
3. [Equity] I have few shares in myy sharekhan account, is there a way to transfer those in KITE.
Or I have to sell it (S/LTCG) and then buy it again?
4. Could you please introduce SIP option in Equity (KITE), i know you have smallcase, but it’s paid.
Any plans of developing the same ?
Regards,
Sacchidanand
1. Yes
2. After 3 years there is no charge, but since it is tax saving you are locked in.
3. You can transfer. Sharekhan would give you a DIS slip, on that mention shares you need to transfer and your zerodha demat ID. They will transfer it overnight.
4. SIP on direct stocks is on our list of things to do.
I have ELSS with Sharekhan, could that also be transferred using DIS?
Hi Nithin,
Thanks for answer.
One of my friend suggested https://www.mfuindia.com/
He says this mf utilities will not charge any money for direct mf, not even Rs.50/- per month like Zerodha.
So just to get more clarification, could you please provide your inputs ?
Thanks in advance.
Sacchidanand
Yes MFU is free, but Coin is a lot more convenient. Check this answer.
Hello Zerodha,
Thanks for bringing in this change.Hope all other brokerage firms take a cue from you to bring in more investor friendly measures.Your are truly a class apart!!.
That’s nice initiative Nithin, day by day Zerodha gaining my respect more and more as it really thinks of its customers. Thank You Zerodha Team…
i hate this concept because small investor like me invest 50000 per year and we purchased mutual fund as per market condition but from know i need to pay 50*12=600 per year.very bad decision because earlier i paid less brokerage.
Yuvraj, we have decided to continue to run the other way of investing in MF also. You will see the link on the footer of the coin page in some time.
Im so glad about this decision. I hope there will be no 25000 limit then?
Yep https://coin.zerodha.com/funds/non-direct , you can click on the fund and purchase. This is the regular way, and yes no 25k limit or any monthly fees.
🙂 I didn’t think someone would want to continue with regular after you introduced COIN! Anyway, my question is how to I switch between funds in COIN. I couldn’t figure out – I could see SIP, but not STP… Help!
Hi,
Many ELSS fund missing in your direct fund which I am having in my portfolio. It seems you are forcing your choice on us.
Hi, I don’t understand the logic of charging Rs.600 per year for Direct Mutual Funds ? I can directly go to the MF website (Like Axis, Birla or Reliance) and purchase. Only thing is maybe I may have to maintain multiple MF accounts, but that will save me of the annual/month charges.
I like your opinion….dear
Hi , I am not investing anything through coin . How can I access the existing investment ?
You can see it within coin. We will give a link to buy in our earlier method as well soon on the footer of coin.
But why suddenly this Rs 50 introduced?
Annually it is 600rs fees which is more than the demat account and maintenance charges. So by opening trading account, we will end up paying Annual Maintenance charges of 300rs + 600rs(MF) = 900rs total.
While purchasing MFs from AMC websites, they give option to avoid MFs maintained under demat account and by which avoiding unnecessary demat fees.
Aravind, keeping in demat is a lot more convenient. We can also offer things like NAV tracking orders, easy SIP (start/stop anytime, no NACH), much better reporting, capital gain statements, single view across stocks and MF
Nithin,
I have 30k invested in Axis ELSS. Due to this fee, i will be ending up paying Rs 1800 as maintenance charges for 3 years which is equal to consolidated 6%. I personally feel the fees charged is at higher side.
Please advise how do i transfer my existing ELSS funds to Axis AMC? Because i don’t think i should be losing 6% as a fee for my hard earned money.
Aravind, this fees is not applicable for those who have invested in regular plan. You can continue to invest in regular plans here without any monthly fees: https://coin.zerodha.com/funds/non-direct.
Also if you opt for coin, this monthly fees is irrespective of the value. The cost remains the same even if your value of investment goes up.
Nithin,
I have the exact same problem. I’m not a regular investor in mutual funds. I invest only in ELSS for tax benefits.
So coming to the problem, I have, by mistake, started using “coins”. From what I understand, “coins” are useful for regular investors. And yes, it provides an ease of maintenance, by providing all my MFs in single page, etc.,
But, at this point I wouldnt need those facilities.
So, if I have to opt out of coins (I’m okay to sell my ELSS holdings too), can I do it? And if yes, how?
Thanks
I suggest that if Zerodha reduce their COIN monthly charges from 50/month….
Number of Clients are connect with Zerodha & Existing Client start the DIRECT Plans in Zerodha….otherwise they are better with AMC for investing in Mutual Funds Direct Plans..
Nithin,
I’m delighted that zerodha is explaining to customers about the direct schemes and how much commission that regular funds take from a investor. But I fail to understand why there should be additional 50Rs/Month charge when the demat account maintainance charges are already 300Rs/year . I mean as per SEBI guidelines even charging 50Rs/month for direct schemes isn’t a violation in another way ? The whole concept of DIRECT scheme is its direct to the investor . Period. For some one who invests 15-20K/month via SIP in direct schemes . I don’t see this 50Rs/Month as being justified .
Thanks,
Ravi.
I support your Comments…. actually right
Platforms are allowed to charge transaction/platform fees for offering direct plans. At 20k/month, you are paying probably upto Rs 3000/year just as upfront commission and upto 1% of your AUM end of every year as trail. So say you invested 20k/month for 20 years and markets returned 15%, if invested directly would be 3 crores, regular would be around 2.6 crores. 40lks more. You would have paid only Rs 12000 to use the platform vs saving of Rs 40lks. So yeah, the % commission has compounding to it.
Platforms are allowed to charge transaction/platform fees for offering direct plans. At 20k/month, you are paying probably upto Rs 3000/year just as upfront commission and upto 1% of your AUM end of every year as trail. So say you invested 20k/month for 20 years and markets returned 15%, if invested directly would be 3 crores, regular would be around 2.6 crores. 40lks more. You would have paid only Rs 12000 to use the platform vs saving of Rs 40lks. So yeah, the % commission has compounding to it.
———————————————————————————————————————————————————————
You compare to the MF-Regular Plan & Zerodha Direct Plans and says that we pay upfront charges rs 40lks & if we go with ZERODHA we pay only 12k……
but I says that if I invest through Zerodha-Coin platform — we Pay 12000 Rs……..but If we go with platform of AMCs and invest in Direct Plans….. we Pay 0 Rs (Zero) ….. so why have we goes with ZERODHA Coin…… only for Tracking Purpose — in One Place
Ah that is a different question all together. Yeah, convenience of being in demat, single portfolio view across funds/stocks etc, better reporting, capital gain/tax statements, easy SIP, in demat so fungible easier to pledge as collateral to take a loan in future, and etc.
Hi Nitin,
Its convenient with all the tracking and other good features of your platform and that’s why we as customers are with you in the first place. However the charges should be reasonable as well, given the account maintenance itself costs Rs300 per year in which both traders and investors make many transactions everyday with Intraday@Rs20 and Delivery@Free.
Go ahead and if I buy a smallcase, its a flat Rs100 charge for each case ranging from 1500 till 20k which is justified because your team is involved in a lot of research for the special cases focused on better returns.
Now with the new Coin policy for MF Direct Plan buying option, its simply monthly scheduled payment for the MF plan and we don’t need to transact for shares in it everyday or your team is involved in activities for optimizing those plans for better returns, its all handled by third party in this case. We will be paying expense ratio to the fund manager’s anyway.
Please reconsider the monthly amount we are expected to pay for Rs600/year because its on the higher end as compared to the other charges like the account maintenance, smallcase wherein Zerodha and team are primaily involved and have a lot going on. The amount should be reasonable to suit all because we would love to see your statistics for our returns.
Would appreciate specific answers to the following questions.
1. I subscribed to units (worth 10 lakh) of Franklin Ultra Short Term Debt Fund – Dividend Reinvestment on 23/3/2017 thru mf.zerodha.com. I have no intention of using the direct (coin) platform for a monthly fee. How do I redeem my units? I am redirected to coin platform and asked to agree to the monthly fee arrangement.
2. Units allotted consequent to dividend reinvestment (original investment being thru distributor mode) shall be treated as distributor mode only – is that understanding correct?
3. Do I still have the option of choosing distributor mode for my subsequent investments, if I do not wish to pay monthly fee?
4. Does the monthly fee once started continue even when all mf investments have been redeemed ?
1. You can redeem, there is no cost. You will be charged only on fresh investments on coin above Rs 25k.
2. yes
3. For new investments, we are planning to keep only the direct option.
4. No, once redeemed, you can stop the subscription.
Hey Nitin,
This is really cool and most welcome addition to Zerodha. Was hoping that such a platform will be available at some point. Glad to see it live.
Can i switch my existing SIP’s to COIN ? How can one do it ? Any links/pointers will help.
Cheers,
G
To switch, you will have to stop the existing SIP. Search for the same fund on coin, and start SIP again. They will all be in direct mode.
Hi nitin
Thanks for good initiated to explain all the queries and one of my suggestion regarding direct and regular like agent
1) he can do all the KYC compliance
2) he is giving you better if he is good financial advisor before you selected
3) he never let you loose because he get if 0.5% – 1% he always give you profitable funds… Major advantage
4) any AMC has 300 funds and you bit confused which is best and unless someone give good suggestions.
Choose the best agencies then you go for better or like coin also they display the better funds like top 10, mid cap …
Hi sir I want start investment as sip plz guide me
Mahendra, it is really simple. Login to coin, select your fund, and hit SIP.
I always do my SIP investments directly in the fund houses after reviewing the fund performance using the following websites such as crisil.com, valueresearchonline.com and money control.com. Then instead of logging into those fund house websites to monitor my investments, i go via myCAMS and Karvy websites using my login. Only exception is Reliance MF wherein you need to have your own per login directly in their website. Since these days most of the AMC’s have their dedicated websites and mobile Apps on the smartphones (iOS and Android), managing your investments on a day to day basis is just a piece of cake a d cost free. Then why we need to rely on this Coin option and pay the fees each time when your investment crosses more than 25K ? My sincere advise is to stick with direct investments and that too with the AMC’s directly. After your investments, try downloading myCAMS and Karvy mobile Apps and keep your investments hassle free. Good Luck everyone !!!
Exactly ! I was also thinking the same. Moreover, what perplexes me the burden of paying Rs 600/yr once corpus crosses Rs 25000 (which will for 90% people as in most cases if SIP amount Rs 2000/mnth). Over it, consider when the investment turns negative (as it would in economic cycle), this little charge will sting and add up to the already negative portfolio. Not sure how things work when investing directly with the AMC. Can you kindly elaborate it, specifically on the expense ratio?
rakesh ji in distributor mode agency charges 1.5% and 1% annually so in ur case 20*12=240 and after first year it is 240+(2000*12*1/100)(1% annual) =480 first year
second year end suppose profit 2k plus invested amt 48000/- net 50k now charges deducted would be (240+240)+(240+500)=1220/- in 2 years roughly but in zerodha 50/- each month if not considering 25000/- thing 1200/-only
charges keep on increasing with investment in distributor mode.
but in coin mode(direct mode) 600(ist year) + 600 (2nd year) +600 (3rd year) not considering any profit/loss
distributor mode 480(ist year) + 720 (2nd year) +960 (3rd year) not considering any profit/loss
nithin ji pls correct me if i’m wrong anywhere. this is what my understanding.
Something like that, but adds to a lot more.
Rakesh, every scheme has two NAV’s one for regular and one for direct. The direct NAV will have much lesser expense ratio (since no distributor has to be paid). Assuming you invested 3k/month as SIP for 20 years and assuming markets returned 15%, direct MF would have returned 45lks, normal Rs 39lks. So around 6lks more. With our platform, you would have paid Rs 12,000 for 20 years and saved 6lks as commissions. Also, our charge of Rs 50/month is irrespective of the value of investments, but with normal those charges are just on that Rs 3000 SIP month.
Hey Arul, it is about convenience and also some cool features like easy SIP (start/stop SIP’s whenever, no need of new NACH forms, etc). Since MF is in demat, it is fungible, can be tomorrow easily used for pledging/collateral for a loan, and etc.
Hi Nitin, can you provide the circular link by SEBI or any web link
From what I understood from your reading, we should be able to buy MFs (direct plan) using Zerodha trading account like stocks using kite. If so, what is the use of coin ?
Check this link on BSE and search for direct. There is no one interface currently offered by exchanges for both equity and MF. Hence we have two.
Hi Nitin,
Congratulations. It is a great initiative.
I am having NJ account and SIPs (35K/month) are running. I also have Zerodha account.
My question is
Can i shift my NJ demat to Zerodha demat?
If yes, what is the process?
If not, when can this feature will be available.
Yes you can. Ask NJ for a DIS slip, mention your zerodha demat DP ID on it and transfer the MF. The easier way will be to exit the investments there and buy afresh with us.
Thanks for reply.
If I exit current MF, then I may loose compound interest? Is it correct?Ok I think DIS way is fine? But this is my thinking. Can you tell if I am right?
Hi Nitin,
What are the costs for redemption? Will there be NSDL / CDSL charges for the same like equity?
Yes CDSL charges, Rs 5.5 per redemption.
Is it possible to redeem MF in part units, say 0.5 units, in coin ?
Depends on the scheme you’re redeeming. Some funds have certain multipliers where you’ve to sell in multiples of 1. If the scheme allows, you can sell 0.5 as well.
I have purchased some fund through mf zerodha.com . but I didn’t know about your charges because your customer care informed me it is absolutely free. I have some elss fund and also 3000 sip . have to stop them. Can you please introduce an annual change like dmat?
Mihir,you will be charged this monthly fees of Rs 50 only after the next Rs 25000 worth of direct MF investments on coin. In the normal distributor mode, from your investment 1.5% upfront and 1% on your total AUM every year is paid out as commission to distributor. If you invest directly on coin, your investment will gain by that much. This is much better than investing through distributor mode. By paying this Rs 50/month after your first 25k investments, you save a lot lot more vs a normal fund. For example, if you invested Rs 3000 for 20 years every month, in direct your investment could be worth Rs 45lks and normal Rs 39lks. Almost 6lks more, which you would have saved as commissions. At Rs 50/month for 20 years you would have paid Rs 12000 (for all your MF investments) vs paying Rs 6lks as commissions in a regular fund just for this Rs 3000 SIP.
This is really great news Nitin. Thanks to you and Zerodha for making low cost trading possible.
Thanks Nitin – Great work with Coin !
As Zerodha is now charging for presenting the consolidated MF portfolio – may i suggest to provide the facility to have multiple goal based portfolios for same Account. e.g., i want some MF to be part of Goal 1, while others to reflect Goal 2. Can i get a filter ? Some thing similar to MoneyControl where i can add multiple Portfolios and see if i am tracking to individual Goals.
Yep, on our list of things to do.
Yea, If the feature i.e. Goal based portfolio can be rolled out soon that would be helpful as a user. How soon can we expect this feature to be live?
Thanks
This will take time Abhineet
Dear Nithin,
Since its been almost a year and half, is the option to create Multiple Goal based portfolios (DIY) and creation of different folios of the same MF scheme to align and monitor performance of them individually would be highly appreciated and be a great incentive to shift from other direct MF platforms to Coin. When can we expect this?
Mutual Funds will soon become a trading product n every one knws the end results.. All the best!
Hi,
Please note a suggestion it might be useful…For new investors kindly add a tab wherein a new investor if wants to invest in mutual funds can pick up the mutual funds selected by Zerodha. The idea behind this is that a new investor does not know which mutual funds to pick …if zerodha helps them picking the best mutual funds the investor would get benefited as well as motivated to invest more and take risks…..This would be a huge step forward in investor education about the right funds and good choices. Thanks ….Pls do consider if possible.
Tushar, if you check on the homepage, we have suggested our three top choices currently.
Hi,
where to see it? I could not find it out.
Scroll down the page, see the section which says not sure what to buy?
Sorry Sir,but there is nothing like this I can find on my home page.
Check this link http://tinypic.com/r/16kar00/9
Thank You Sir.
Hi Nithin,
Good initiative. Appreciate your agile model.
Would be helpful if you take some time to answer my below questions.
1. Lets say I have a ‘X’ fund SIP going on in the regular plan. Can I continue the same from next instalment or should I compulsorily cancel that SIP and switch to its direct plan? If I can continue, will I be able to alter(increase/decrease) the SIP amounts for the future instalments?
2. The result of the search box in Coin displays only a set of funds that are provided under direct plan. Are no more fresh investments into regular plans possible?
3. Is there any special provision to switch the regular plans of the existing funds to direct plan of the corresponding funds or the existing funds need to be redeemed and invest fresh into direct plan?
4. The flat monthly fee of Rs.50 is for per fund or for per account?
5. If I have my total investments say 2 lakh for example in MFs out of which my investments in direct plan is less that 25,000 rupees, will I be charged the subscription fee of Rs.50?
Thanks in advance for your response.
I find only a limited number of direct funds currently exist for investment in Coin. I suggest you to bring the direct plans of most of the funds into coin which will mark the complete success of this transition from a distributor mode to direct.
Regards
1. Yes you can continue the same. yes, you can alter amounts.
2. yes, currently not possible. We are looking at getting all those funds under direct option soon.
3. For now, you will have to redeem and invest fresh.
4. Per account
5. No you won’t
Hi,
I am an investor who invests in MFs via Direct mode. I keep a track of all my investments using moneycontrol. Moreover, I get a consolidated portfolio position on a regular basis from depository as well.
Are there any benefits that COIN can offer to an investor like me?
Suraj, buying direct MF in demat mode means that it is fungible. You will be tomorrow easily able to pledge etc. Also Coin offers an easy SIP, check this post.
Hi,
I have existing investment of Rs 3000/mnth with you (MFs being DSP BR Tax Saver and Reliance Tax Saver). How do I convert it to direct mode ? Do I need to close them (if yes, how ?) and re-open with the same mandate ?
Strangely things get more confusing with the sudden introduction / changes !
Waiting for your directions as my SIP dates are approaching.
Yes, you can stop the current SIP’s and start new ones on the same funds on coin. What is already invested can’t be converted, but any investment from now after you stop and start will be in direct mode.
Dear Sir,
Can i make you the distributer of my dirext mutual funds by adding your ARN number?
If you add an ARN number, that means it is not direct mutual fund. You can buy on our platform to buy directly – this will be without any ARN number.
1.Will it have Detailed reporting like, XIRR, CAGR, Graphs, profit,loss about investment?
2.Since it is in Demat mode will you put any restriction for minimum amount / minimum unit for redemption?
3.All the AMCs are covered?
Thanks,
Senthil
1. P&L is available. Other reports will start showing up along with equity on Q.
2. No
3. Over 20 currently. More soon.
I would really love to see XIRR, CAGR, Graphs, for MF SIP investments soon sir..
heads Up to your innovation define & development team on building this such a nice product
Nithin,
So if i only want to invest in Mutual fund just for 1 time say for 1 lakh. will i be charged 50 until i hold that mutual fund.? so if i hold that fund for 10 years or 20 years 50 rs is charged each month(or 600 every year) even if there is no transaction?
Sadly yes. 🙁
Malcolm, if Shree bought this in the previous pay, the AMC would pay out Rs 1500 upfront as commission and then 1% every year until it is held. So in 5 years if the value of this Rs 1lk is rs 2lks, it would be Rs 2000 that year.
Yes, it will be charged at Rs 50/month until you hold that investment.
Any plan to integrate the kite platform with coin? So that the MFs can be purchased via direct api calls. This would be extremely helpful.
Hello Raja,
This is on our roadmap. Mutual funds will become a part of the Kite Connect API.
Nitin/Team Zerodha,
Any estimated time frame for this? Kudos to you and I foresee zerodha in indian trading environment to be equivalent to what facebook has been in internet. The joker of the pack being kite platform.
Within the next two weeks. Thanks 🙂
Hi Team Zerodha, Great move! 🙂
I have few queries;
1.What are the charges for MFs under Distributor (old investments) mode?
2.When do Zerodha deduct them?
3.What are the charges levied on the P&L shown in my dashboard ?
4.What are the Exit charges in general?
5. Rs.50/month is per customer? or per Investment ?
1. We don’t charge anything. MF’s pay the distributors from the expense ratio charged to the clients. Usually around 1 to 1.5% upfront and 0.5% to 1% on trail.
2. We never deduct
3. There are no charges levied, it is debited by AMC from the fund directly.
4. Depends on the fund.
5. Per customer
Hi Sir, Thanks a lot for your prompt response 🙂
I have one more query:
Suppose I redeem my funds under distributor(old) mode and re-invest under “Direct (new)” mode, what are the upfront, exit and subsequent charges on my investment?
ie, apart from Rs.60/month, for a one time investment for Rs.1,00,000/- having exit load of 1% and expense ratio of 1.8 what will be the annual & incidental charges on my investment under “Direct” mode?
If there is an exit load of 1%, you should probably continue holding and not really move to direct this way. We are trying to figure if there are any other ways to convert to direct without redeeming.
Can we pledge the units purchased on coin and use it for future n options margins??
Good query. I think Zerodha should consider to allow the invested amount as margin money. Waiting for the reply.
Not possible currently.
Sir following funds are available for online / direct investment
HDFC Mid-Cap Opportunities
Franklin India Prima Plus
Franklin India Smaller Companies
Franklin India High Growth Companies
But I am not able to find these in Zerodha Coin.
pls let me know, why above funds are not available and when they will be available for direct investment.
Thanks
Just FYI… I am finding the Invest online option available on valueresearchonline.com.
What you see there is not direct funds.
Direct Plan are mentioned here clearly on valueresearchonline.com.
These funds direct option is available under following fund house
Franklin
HDFC
Sundaram
1. Franklin India High Growth Companies Fund – Direct Plan – https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=15990
2. Franklin India Prima Plus Fund – Direct Plan –
https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=16008&rgsrc=pglmt
3. Franklin India Smaller Companies Fund – Direct Plan –
https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=16010
4. HDFC Mid-Cap Opportunities Fund – Direct Plan –
https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=16114
5. Sundaram Select Midcap Fund – Direct Plan –
https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=16125
pls bring these 5 funds asap sir… so i can move regular sip to direct
HDFC a few funds will start showing up soon. Franklin in the next 10 days.
Hello Sir,
You mentioned on 27th.. i.e. in 10 days Franklin funds will be available..
today on 7th/Apr.. i still couldnot find any franklin funds.. 🙁
Any update on this… pls share
Franklin is not ready for direct in demat. We are.
I did not understand your reply Nikhil.
pls elaborate
Sorry.. its Nithin:)
HI Zerodha Team,
Will you guys offer robo advisory as well.. if so then its fees is included in 50/month or will there be separate fees?
Sunny, no plans on robo-advisory yet.
After Rs. 25,000 worth of investment, you will charge Rs. 50 per month. Is there a possibility that the monthly charges may increase in future?
No plans to change.
Thumbs up!!!!!!!!!!!!!!
Please try getting all others on your platform.
Dear Nitin,
I was investing using the distributor site. I didn’t pay any commision either upfront or at trail. And maybe the mutual fund companies paid you. I didn’t and still won’t mind that. But for me investing has come with a cost now when it was free earlier. I’m not a big enough investor to justify a 50 per month fee. Everyone is hailing the fact that now they will have to pay a fee. Can you please explain to me how coin is economically more feasible to me as compared to the distributorship model which I loved and chose. I don’t want goin and its forced upon me.
Malcolm, if you are a small investor, the first 25k worth of investments there is no monthly cost of Rs 50. Assuming you invested for Rs 50,000, if you buy MF in distributor mode upto Rs 750 from your 50k will be paid as commission and then Rs 500 every year for as long as you held the fund. With Rs 50/month, this platform will cost you only Rs 600/year irrespective of number of transactions or value of transactions. Like I explained, even a small investor will save money.
So in the previous distributorship mode, Zerodha was charging me?
Zerodha’s mutual fund was without brokerage….this was its USP… it was totally different from other distributors(and hence could not even be compared with them) …but now with coin Zerodha is competing not to better itself but to improve on competitors. ..dear Zerodha you have already done that.
Zerodha was not charging you. But mutual funds used to pay us commissions if clients bought them. So indirectly we were earning from your investments, every distributor in India does. From today, we stop earning all commissions from AMC, just the Rs 50/month from the client after 25k worth of investments.
How is it a good thing that now I will pay you instead of the mutual fund (I’d prefer it the other way around). I do appreciate your replying me. I loved zerodha and its fee structure (I have guided 3 people to having trading accounts with Zerodha and was just about going to get my wife to invest regularly) and have suddenly become disillusioned.
Also can I have clarification about my current SIPs. They are not direct, so will they go through in the non direct way? If they do, does a 25000 investment on non-direct still count for that Rs 50/month fee?
Let me try to explain.
Every mutual fund has two options: Regular, which pays commission, and Direct, which does not.
If a direct mutual fund goes up 10% in the year. The “Regular” will go up only 9%. For example, take Birla Sun Life Equity fund. The direct plan has (as of yesterday) done 23.79% in the last one year:
https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=15831
The regular plan has done only 22.59% in the same time:
https://www.valueresearchonline.com/funds/newsnapshot.asp?schemecode=1400
Rs. 50,000 invested in Direct would now be: 61,895
Rs. 50,000 invested in Direct would now be: 61,295
Effectively when you went with a “free” distributor you got the regular plan and your money is now Rs. 600 less than if you chose “Direct”.
For Rs. 100,000 your direct fund are higher than regular by Rs. 1200. For 500,000 regular funds will be lower by Rs. 6,000. And it’s lower EVERY YEAR. So in 5 years, a Rs. 500,000 holding – even if you do no more transactions will be lower for a “regular” (your free distributor thing) plan by a whopping Rs. 35,000 (compared to a similar investment in the direct option of the samemutual fund)
The Rs. 600 per year you pay to Zerodha is to get the direct plan (coin.) rather than regular (old mf.zerodha) If in five years you builda Rs. 500,000 equity fund portfolio
Effectively as you grow more than Rs. 50,000 in holding, your payment to ZD will be much lower than the gains you make in the direct plan.
Just also note that this applies for equity funds. In some Debt funds (like liquid or ultra short term) the difference between Direct and Regular is lesser (0.5% per year or so), so Zerodha becomes cost efficient only at Rs. 100,000+ worth.
I hope this clarifies.
Okay. This makes some sense. That the amount I will be paying to Zerodha will not be comparatively large once I have a higher holding of mutual funds (above 1 lkh) and if I do not stop investing. And direct is better than regular mutual funds because the growth in the fund is more due to the absence of commissions.
very good explanation
Yes your current SIP’s will continue in regular way. There will be no monthly fees on that. Let me try explaining again, why direct is better:
If you invest 5k/month for next 20 years in a regular fund. Assuming the fund returns 14%. At end of 20 years, you will have 65 lks. The same fund if invested in direct mode, will give you 1% more every year as returns (since the expense ratio for direct funds are lesser). At 15%, end of 20 years, the corpus will be 75lks. So your investments will be Rs 10lks more if invested directly. You would have paid us Rs 12000 for 20 years as monthly fees, but earned Rs 10lks more on your investment. With this Rs 12000, you could do multiple investments and any value, but that 10lks extra you are paying only on one SIP of Rs 5000.
I am puzzled here..
as you mention, from 750 + 500 every year (for one time investment)
incase of SIP, your commission earnings graph will rise exponentially.
by bringing a cap of 600, it is really good for investors..
but somewhere this is affecting your earnings as well from the profit/revenue point of view..
what is the logic behind in saving investors money at the cost of your business profit margin ???
Sharad, we never pushed our earlier mutual fund business because the model didn’t fit in with the rest of our business. For trading we say our costs are fixed,so we will charge Rs 20 per trade, but mutual funds we were earning %commission. Also there is no incremental overhead for us offering direct mutual funds. We are hoping that we will be able to get enough people to give us Rs 50/month to make this economically viable. Let us see how it goes 🙂
Superb news !!! Thanks for bringing up this platform.
Funds from which mutual fund houses we can buy in Direct mode?
There are over 20 AMC’s on the platform.
Hello,
I’ve a query. Suppose I purchased >25K and kept for sometime and coin subscription kicked off that time. Later I redeemed some my funds and now the value of my fund is <25K. Will the subscription continue charging me?
Thanks.
Yes, it will continue.
but Nitin, that should not be the case. if someone has invested >25 for 8 month and he/she exited in 9th month and his/her investment came down to 25K ?
I think you need to think here and give a fare outcome to the loyal customers.
Hey Team,
Every time I try to open mf.zerodha.com, I get redirected to coin. I need the old platform because you do not have all the MFs in Coin. Can you tell me how do I access the old MF site?
Thanks!
We are working on having all MF on coin. Give us a few more days.
Sure. That sounds great. Thanks!
Dear sir,IMO there is nothing new in providing direct investment service.It is the hard research which is more important when investing in mutual funds.I think you can provide that.
Kindly clarify the following:
(a) What about present direct holdings? Can they be moved on your platform?
(b) In case i want to start a SIP, do I need to topup my account every month for that particular SIP amount or is there a provision to generate a standing instruction/bank mandate for investments to my bank by zerodha.
Regards
a. You will have to convert them into demat and move into our demat account.
b. You will have to topup the trading account with us. We send an SMS as reminder. We are working on having a standing instruction soon.
Great work.
I really like the concept of consolidated MF view and the convinence it brings.
I already have SIP running under direct plans with fund houses.
Mostly, they are all equity based. I dont want to exit them, bcos of STCG.
Does the platform support transferring existing Direct plans from fund houses?
Existing direct plans from AMC will have to be converted to demat to move.
how do we do that? I have a very large direct MF portfolio, how do I move it?
You have to speak to the AMC and get them credit them in demat form to your demat account with us.
Hi Nithin – I contacted the ISC of HDFC MF for dematerialization of my MF units. This is the response they gave –
Quote
for dematerialization of units you would need to approach your Depository Participant along with a complete account statement of the folio number. Please find enclosed the same for your reference.
Unquote
How should I move forward for converting the same into demat ? Pls assist.. Thanks
Yes, there is a MF demat request form on our website. You will have to send this along with 1 self-attested PAN card copy and self-attested mutual fund statement.
Upto ₹25000 free in a year of investment or all the time investment?
All time.
Charges should be Rs. 25 per month.
Yes. You are right. It should be 25 Rs per month.
Hi,
I already have an ongoing SIP in zerodha for one elss fund, the total investment being about 70k. I thought zerodha was charging zero brokerage for mutual funds. Then how was the commission system working? How am I impacted if I continue my existing SIP of 6K per month? If I stop the SIP and start afresh to use the coin platform, would my next 25k investment be free?
Regards,
Victor
Victor, we are charging zero brokerage. But people who sell mutual funds earn a commission back from the AMC for selling the funds. That is why most people around you sell you mutual funds, since they get to earn from the AMC for all funds sold. If you continue your Rs 6k SIP, 1% upfront and 1% end of every year will be paid back to Zerodha as commission from AMC. Yes, if you switch to direct, the next 25k of investments will not have that Rs 50/month charge.
hi Nitin,
I understand zerodha is not charging brokerage.
how does 1% upfront and 1.5% year end commission paid by AMC affect my returns ?
Is this commission numbers valid across AMC and across MFs (debt and equity) ?
Every fund has regular and direct plans for the same scheme. So the expense ratio for regular is higher than direct. So yeah like explained in the post above, it can make a significant dent when invested for long term.
What are the demat holding charges for each MF and equity? How do u make money? on both platforms???
No demat holding charge as such. Hopefully we will be able to get enough people to subscribe to Coin at Rs 50/month to make this economically viable.
Team Zerodha, Congrats on the new initiative, first of all, first time investors have 1000’s of questions on MF and the FAQ section doesn’t have them all and i have called support several times and many a times they lack information and now after moving to coin i have another 1000 more questions and i simply have no answer, i first request you to add as many as Q & N to your FAQ including all those answered above so that we dont disturb you guys often and some info is already there in the first hand.
Now to my few questions, if you can please answer them:
1. “Buy and Sip” the 2 buttons are not coming for me in Coin, it says purchase not available.
2. I currently have 3 MFs, imagining to be in distributor mode, when i cross check the same schemes in coin, i see the same NAV, expense ratio and exit load as mine, then what is the advantage in the Direct access mode ?
Because if the figures are going to be same, then i would be buying the same + Rs. 50 now, please explain.
3. Now in the Direct access mode, if i place a new order how long would it take for the allotment ?
Thanks
John
1. That means that fund is currently not available in direct option. We are working on having as many onboard as possible.
2. I think you are seeing the funds in regular mode itself. The corresponding funds are not available in direct mode. You are able to see those pages because you have them in your holdings.
3. Allotment times will remain like before.
I want to transfer my investment from distributor to direct mode via zerodha but for this i need to exit from my current investment and that has exit load of 1% , isn’t it a bad thing for me ?
You can stop your regular investments and start anew in Zerodha.
But here if i stop my existing SIPs and start a fresh Direct plan.. DO I need to make 1st mandatory Investment of 1k or 5k ?
Ah yeah, you will have to make that first mandatory investment.
Hmmm… That’s a tough choice!
We can allready buy/sell MF direct with fund just opening a account with fund…all by online.Then whats the need to give you 50 /PM?:)
That’s true of course, however, Coin gives you the convenience of having all your investments in one place. Makes managing a breeze.
Nithin
,50 rs per month is only a maintainance charge irrespective of the amount i hold and no of schemes i hold there in coin.
can you clarify
Kumar,
The number of funds you invest in doesn’t matter. You can invest in any number of funds. Rs. 50 per month is charged for the service if your investment amount exceeds Rs. 25000.
zerodha keep on rocking, added many features
thx Mr Nithin
Two questions:
1. In simple terms, does this mean that we would incur an annual fees of 600 (split as 50 over 12 months) for having total investment in MF more than 25000?
2. Hereon, will all existing SIPs and conditional orders be executed to buy the Direct Plan and not Regular Plan?
Thanks in advance
1. Yes, that’s right.
2. The existing SIPs will remain as such. You can stop the old SIPs and start a new one with the direct plan from the Coin dashboard.
I am unable to find Franklin India MFs now. From your other comments, I gather that you are working towards getting them listed. Meanwhile, will the existing Franklin SIPs get executed as per the earlier standing instructions?
Yes, all earlier will continue to get executed.
I have several SIPs in mf.zerodha.com.
Can I pause those SIPs and then create new SIPs in direct plan in the same mutual fund scheme(if available) ?
Will you be differentiating the old one from new?
I don’t want sell them and switch for tywo reasons:
1) Some are ELSS- need 3 more years
2) Short term capital gain tax
Yes, that’s right. You can redeem funds and reinvest in direct funds if you want to. You can also pause the existing regular SIPs and start new ones with direct plans if exiting isn’t an option.
Hi,
Yes, you can pause/stop your existing regular SIPs and start new direct SIPs.
The name of the scheme will have the suffix “Direct” Ex. Reliance Japan Equity Fund – Direct Plan – Dividend
Hi Sir,It is a Good and Best Idea You Introduce and I Found Some Mutual Fund Which i Invest But I Din’t Find Other’s.
Such as Franklin India Mutual Fund and HDFC Mid Cap Mutual Funds are Not in Your List.
Are You Planning To Board This Mutual Fund or Not.
Because My Portfolio Consists 6 Mutual Funds and I Found Some in Your Mutual Fund List and Some are Missing and I Din’t want to change this.
So,Request to add all Mutual Funds in Your List So That i Can Found Them and Invest Easily and Effectively.
Krishna,
The direct variants of a few funds aren’t enabled on the BSE StAR MF platform. These wouldn’t show up. However, we’re working on having these funds added to the new platform.
First of all congrats. Good initiative although user needs to pay a charge on per month basis albeit small .
But the main problem is not every MF is available to buy. e.g HDFC Midcap opportunities fund.
So why is thagt? and when all will be available..?
Working on getting on all the funds on it soon.
I think MFUTILITY is already a facility freely available for convenience which you want to provide with your platform.
i think mf utility dont provide pause and play of sip where as u might will get in zerodha
Harish, some of the benefits, single portfolio view, much better interface/platform, easy SIP, and since it is in demat mode very easy to pledge/take loan against.
if i go directly from company i.e. axis mutual fund, reliance mutual fund, i need not to pay this 50 rs as well as any commission of 1.5 % or 1% . as far as consolidated statement is concerned i will get it from CAMS also cams provides to invest and redeem without any charges so tell me why should i go with you for paying extra 50rs. please clarify
Convenience of being in demat, single portfolio view across funds/stocks etc, better reporting, capital gain/tax statements, easy SIP, in demat so fungible easier to pledge as collateral to take a loan in future, and etc.
Agreed Nithin. But Rs.600 per year just for portfolio management is quite high, as there are a lot of 3rd Parties (moneyControl, ETMoney) who do this for free. Plus MFU provides free Direct MF investments. I welcome this idea of Zerodha Coin , and would like to continue my relationship with Zeodha, but please have a relook at the charges. (300 for Demat and 600 for MF). Demat a/c charges i agree, its a norm , but MF charges needs to be reconsidered. Thanks.
Cannot agree more.
Hi Nitin, we can understand your business model is quite transparent and also sometimes you rely on less margin. But thats what Zerodha known for. You give up commission and provide us an excellent platform to invest in Direct MFs and you deserve fee. But Rs.600 in a year(specially sub 10K/Month like me) is on a bit high. You can think of something like brackets e.g. Rs.200/year for Less than 50K per year, Rs.300/year for Rs.50K to Rs.1Lakh/Year and so on.
Would like to urge you to have a re-think(not expecting to be free as I feel it is not sustainable).
Cheers. 🙂
Anirban
Fees of 600 per year too high. I will not invest through COIN will go to MF sites direct. Not a good idea Nithin + 300 demat fees. No fair.
Hi Nitin,
Kudos, you brought a different idea in the market and I am sure you will be successfull.
All the very best ! ! ! You had lot of patience to answer different queries from Individuals who ask the same questions in different way, if one goes through the Q a A , they will get the answers of their queries.
But I can see many still don’t believe the idea . This is because they are paying much more and even they are not told of the charges they used to pay. You are bringing in Transparency in the system.
Jago Grahak Jago.
Heartly Congratulations to you ….
Hi,
Team, can you give me one example for old mf. 20 years SIP Rs. 5000/- & New Coin. SIP Rs. 5000/-. It will great for us to understand more easily. And any suggestions on my previous ELSS Fund.
Thanks
The calculation done on https://coin.zerodha.com/ is for 5k SIP for 25 years assuming CAGR of 15%. If regular, the corpus is 1.36 crores. If Direct 1.64 crores – Rs 28 lks more.
sorry that im liitle bit confused about the 50/month.
Let me say , i am investing 5000/month in a xyz fund . By this way u mean to say that u will charge Rs. 50 per month which equates me paying 5050..
If not pls make me clear .. thanks and kudos to your effort
Syed,
The fee of Rs. 50 is charged only if your total investment, across funds, is more than Rs. 25000, you’ll be charged Rs. 50 per month. This is independent of the number of funds invested in. So, if you have 5 SIPs of Rs 5000 per month, you’ll still be charged Rs. 50 per month.
Hi Nikhil,
Does this 50/month after the initial 25k gets reset every year or is itfor life time?
Lifetime, only the first 25k is free.
Sir
Is this Rs. 50 per month subscription after initial Rs. 25000 investment is fixed or it may gat change from year to year?
Fixed for now.
Hi,
Can you provide the details of investing in SIP from zerodha. May be this is not a forum to ask, still since coin is speaking about SIP investments and Mutual funds, I am posting it here.
Can you explain me how does it work when I start investing about 5K in SIP every month (with an assumption it can be done via coin), does the subscription charges
1) Start from month 1 or month 6?
2) is the subscription fee limited to Rs 50/- irrespective of the fund that is being invested?
Regards
Vivek
If you start an SIP of INR 5000 per month, for the first 5 months, you won’t be charged anything. From the 6th month onwards, you’ll be charged a fee of Rs. 50 per month. Yes, the subscription is independent of the number of funds invested in and the invested amount. As long as the total invested amount is less than Rs. 25000, you pay nothing.
My SIP will be deducted from my Bank account or from my trading account.
Shakeeb,
All funds will be deducted from the trading account you hold with Zerodha.
Plz correct me if I m wrong .If the total investment is more than 25000 SIP then It will cost me Rs50(subscription charge)+ Rs9 (charge to transer money from the bank to zerordha) every time.
Do I have to pay 50/per month even if I stop my SIP
Yes. As long as you stay invested, you’ll be charged a subscription fee for the platform. If you exit all your investments, you wouldn’t be charged.
Thats bad bcoz anytime I can stop my SIP and continues after sometime..but bcoz of subscription charges, I have to exit out all my MF .Realy not a good idea.
Hi Nithin,
Is there a way SIP money can directly get deducted from bank account instead of transferring it to trading account every month ?
Hi Govind,
You can add scheduled NEFT transfer to Zerodha account – https://zerodha.com/fund-transfer for free of cost every month auto transfer option.
Yes, we are working on this too.
First investment of rs 25000 for lifetime or for a year or a month? What about the SIPs that will be continued in future? That will be in distributor mode or direct mode?
If I have a SIP and continue it, what about the distributor commission?
Please elaborate the whole article.
Hey,
If your cumulative investments surpass Rs. 25,000, a subscription fee of Rs. 50 per month is charged.
1) I had applied for Mutual fund on Friday and got the allotment few minutes back ? how would I know whether they are under Distributor mode or Direct mode ?
2) Will thr be any tab instructing which mutual fund is in Distributor mode and which under Direct mode ?
Jignesh,
Orders placed until Friday were all for regular plan.
I ordered Kotak Select Focus Fund – Regular Plan on Monday. It still shows that the order is processing. Based on your response above it appears that my order will be converted to Direct Plan. Would that be a correct understanding?
If order is processing, that means it is already placed in regular plan. We took Coin live only by monday evening.
Does it mean mf.zerodha.com is closed? only direct funds can be bought?
I would like to have both the options available as more fund options available in distributor format.
Hey Nisarg,
We’ll be adding funds to the new direct platform as and when the same are enabled on BSE StAR MF and you’ll be able to invest in the direct variants of the same.
wow, nithin kamath disrupts the mutual funds industry overnight!!! kudos sir
after zero brokerage in equity i think this will be the biggest big blow to ‘fat cats’…i really like your business module where no one can compete and beat so easily ….great
Its nice. I was using different websites to do direct investments. Now I can directly do it from here itself. Awesome.
Wow !! I feel that i have taken a good decision long back to become a part of Zerodha family! :)… Kudos to you and Zerodha team to constantly come up with innovative and exciting ways … All the very best.. Keep it up !
what the amc charge even in direct mutual fund will be charged besides this rs 50 charged by coin.zerodha.com
Sir,
I had started SIP in distributor mode with zerodha.
I want to switch my current SIPs to direct mode. Is it possible to convert the next sip installments to direct mode?
Hi Shridhar,
You can’t switch between regular and direct funds. You’ll have to redeem the fund and reinvest.
If redeem exit charge there
You can go to that particular AMC and submit a switch from regular to direct if you don’t want to redeem or exit .
What is the thought process behind terming it as Coin?
The idea was that every rupee saved is a rupee earned. The “Coin” is that rupee. 🙂
Hi iam just started with regular base and he give me the suggestions , my suggestion is direct plan is good but if you go with a better financial adviser he monitor the major funds and timely intimate us and we get the statements from individual AMC.
My adviser done all the kyc norms and not gone for any office so …iam thinking some funds go through by regular is better.
Hi Nitin,
Another feather in Zerodha’s cap.
Just one query; will current SIP be directly converted to direct mode or we have to cancel the further installments and register new SIP afresh?
If you want to switch your current funds or SIPs from distributor to direct, you may exit them and invest afresh.
What about Tax saving ELSS, cannot sell them for 3 years
Yes, what you have invested as ELSS will have to continue in distributor mode. The installments from now can be switched to direct.
How to change further instalments to direct mode in case of elss fund.
Stop the previous SIP and start the new one.
I still have 1 doubt.. these direct plan SIP’s will be continued or not if the Mutual funds stop accepting further investments.. like the case happened a month back in dsp Microcap Fund…
Dhaval, these easy SIP’s are simulated by us. They are essentially lumpsums invested every month, gives a lot of flexibility to the user. But yeah, if funds stop accepting new lumpsum, this will stop.
Thanks for replying earlier, Nithin. I have a few more queries. What if I invest in SIPs with Zerodha and stop after a year, and just forget about the investment I made for a few years? Do I still pay the 50/month and the 300 for the demat account? I have a lumpsum amount I might invest in a MF through Zerodha, do I have to pay 50/month as long as I cash it out? How is this 50/month deducted, since I do not see an option for automatic deductions. Also, it would be great if the money can get deducted automatically from our bank accounts every month for the SIP. One last question 😀 – I want o invest in Franklin Templeton’s MFs, but I don’t see it in Zerodha, so I might have to go with FundsIndia where I’m already investing ion MFs. How badly is FundsIndia scraping commissions? (I can understand if you don’t answer my last Q, but please do answer the others, wouild be very helpful. Thanks again.
A suggestion – It’s nice of you to answer questions yourself, but you should probably hire people to answer eveyone’s questions, basically hire more customer care execs as you’re scaling. The biggest thing stopping most people from getting on to Zerodha is the lack of information or the inability to reach out to someone from Zerodha for a few queries. I was unable to get anyone to call me to have my questions regarding SIPs clarified. I’m quite new to all this.
Hey Ashish, 50/month for as long as you are subscribed (have any direct MF investment). Franklin templeton still doesn’t support direct in demat, so waiting for them to go live.
Check this Q&A. We are 670 people at Zerodha as on today, 🙂 so yeah we do have a team that can help if you call us, or write to us on [email protected]
how to stop ELSS sip? by deleting from SIP Details & Conditional tab or redeeming them from portfolio tab?
Go to portfolio and hit pause button. Check this webinar https://www.youtube.com/watch?v=S9vmUe0fVdw
Sir pls bring some new nice feature via which existing MF can be allowed to convert to Direct schemes..
Another question – what about the funds for whom Direct option is NOT available (HDFC Mid-Cap Opportunities, Franklin India Prima Plus, etc..)
– How to get direct funds for such options.
– Incase direct funds are not available, will i be allowed to continue my SIP in regular old mode..(because now as i am automatically redirected to coin MF URL, i am getting Purchase NOT allowed for all my SIPs)
Also, when i read distributors take 1.5% upfront + 1% every year on my investment.
I got little confused on this statement…
lets take an example..
I started a SIP of 10k pm.. so Rs150 will every month goes into commission as upfront.
Now after 1 year Total Investment Amt = 1.2Lac + lets assume profit of 10k = Total Value = 1.3Lac.
Now 1% of this 1.3Lac which is equal to = 1300 will again be charged as commission ( + Rs 150 every mnth as upfront will also be continued as upfront)
Now, at the end of 2nd year.. Invest = 2.4Lac + lets assume profit of 20k = Total Value = 2.6Lac.
Now 1% of this 2.6lac which is equal to = 2600 will again be charged as commission…
I am really puzzled to understand this…
pls explain
Thanks a lot in advance
Sharad
Even i have the same query as to what Sharad mentioned.
I want to transfer all my existing mutual funds holdings from regular to direct (coin). Also if i want to switch to direct plan than i don’t want to do the initial investment for all the funds in which i have already invested money in the past. Few of the funds don’t have direct plan options in that case what needs to be done?
Also where can i check all the deductions which takes place in my demat mutual funds holdings, and also the dividend which i received i need to know where it actually gets reflected in the dashboard.
The 25k cap is on monthly basis or yearly basis?
for eg: if i do a sip of 24k in the first month then no charges will be deducted for that respective month, but what if i again invest 24k in next month will there be any charges for that?
Thanks,
Naved
hmm.. currently not possible to switch. Whatever you have set as SIP, you can let it continue. For deductions, login to q.zerodha.com and go to ledger. The funds which don’t have direct, we are working on getting it on soon. The 25k is for the first 25k worth of investments on the platform. After that you start getting charged Rs 50/month. This is a one time cap.
Switching is not possible currently. The funds which are not showing under direct, we are working on having them up soon. Yes, your current SIP’s, you can continue to run in its current form if you wish. And yes Sharad, your calculation of commissions are correct.
Awaiting your MF transfer facility. I’m fairly dependent on ICICI just for just one reason, my MF holdings. I end up paying both Zerodha and ICICI both. All my new investments are thru Zerodha (because ICICI levies service charge on all non-liquid mutual funds). Now it gets messy to manage my investment. I want to transfer all my holdings to Zerodha and close other demat for good. Hope there is no service charge other than 600rs per year fees.
No other charges, other than this Rs 50/month. Btw ICICI charges you an additional transaction fees. Check this link.
Any schedule on when the MF transfer facility will be available please.
We’re working on it.
just excellent. what a thought process.
Hi Nitin
What would be the difference (Monetary ) if i buy direct from mutual fund site and from Coin ? And if going for SIP mode , then this 25000 is counted as total investment or is this monthly limit ?
There is no monetary difference investing in direct funds from the AMC website of from Coin. However, you lose out on the convenience of having one consolidated portfolio of all your investments.
Congratulations & Many thanks Nitin for launching this platform. Wish you all the best.
God bless you brother
Hi Nitin,
Thanks for coin platform, it was long due from Zerodha 🙂
Could you please explain more about:
“Flat fees of just Rs 50/month for subscribing to Coin irrespective of number/value of MF transactions. Moreover, your first Rs 25,000 worth of investments is absolutely free.”
What this 50/month is-
If I have SIP running for Rs. 25,000 then no 50/month charge. ?
Any SIP amount above Rs. 25,000 will attract 50/month charge ?
Any other or additional charges apart from this?
After your first 25000 worth of investments on Coin, you will be charged Rs 50/month after that irrespective of if you make any further invest or not until you unsubscribe.
I guess then it would be same as that 1% charge any way we have to pay u upfront and obviously everyone will invest more than 25k in MF .
For a 25000 investment, you pay an upfront commission of 250 (assuming 1%). So, for a 25k SIP, you would pay 3k per year as commissions. That’s not considering the trail commission.
No way. there is something wrong in your calculations… it can’t be that much. ive made good money from regulr plans all these years too! in 1 year, it cannot eat up more than 10% of your capital. thats absurd.
25k SIP, or Rs 3lks per year. 3000 is 1%. Most funds pay that much as upfront commission to distributor.
The brokerage is paid to the distributor based on the expense ratio of the fund. 1% upfront and 1% trial as mentioned by you is not true. As the AUM of a fund grows, the expense ratio comes down and so the brokerage also will be less. If someone is opting for an all trail mode of brokerage then the average brokerage would be around 1.15-1.25%. Also please appreciate that the brokerage for the debt funds is between 0.05% and 0.75% depending upon the category of the scheme.
Nitin,
Investment using mf.zerodha.com was free right. I never paid any commission for investment through Zerodha
hmm.. can you check this link, I have explained difference between regular and direct plans.
Anyway there is a online platform Mutual Fund Utilities (MF Utility). There you can invest in any mutual fund direct plans. It’s free. It allows to invest in non-demat mode. Only positive thing for zerodha coin is that you can hold these in demat mode alongwith stocks.
Arun, lot of benefits if it is in demat. Check this link: https://tradingqna.com/t/why-invest-in-direct-mutual-funds-on-coin/11738
Dear Nithin,
What is your opinion?
if I sell the MF of regular plan now and purchase from the direct plan.
Is there any loss I have o suffer or any benefit you think?
If you have an exit load on the regular plan, it doesn’t make sense. If there is no exit load, then for sure.
What you mentioned regarding Direct and Regular is not valid for Tata Equity P/E Fund and i think there are lots of such option you can explore by yourself.
It does, check the expense ratio for direct and regular. It is 0.5% more. What it means is that when AMC debits expense ratio, regular plan will be 0.5% more. Considering this gets debited everyday, this can add up significantly as costs.
Hi Nitin,
First of all, Thank you very much for introducing this revolutionary model to invest in MFs.
I have gone through the various link that you have posted to weigh on the benefits of investing in the Direct Funds. I still struggle to nail it out. To make it simpler, Let’s say:
I want to invest 11K Lumpsum in a Mutual Fund. There are Mr A and Mr B who invest in Regular and Direct Plan of the same MF respectively.
The NAV at that day is as below:
Regular: 10
Direct: 11
So, Mr A (for Regular Plan) gets 11000/10 = 1100 Units
Mr B (For Direct Plan) gets 11000/11 – 1000 Units.
Let’s say after 3 years both sells their units and on the selling day the NAV of Regular plan is 20 and Direct is 21.
So, Mr A gets 20*1100 = 22000
and Mr B gets 21*1000 = 21000.
So there is in-fact a loss with the investment in the direct plan. Could you please explain this.
Thanks,
Milind Patel
Ah no, after 3 years the NAV of direct won’t be 21, it will have grown a lot more. IF expense ratio for direct is 1.5% lesser, that much of NAV 1.5% per year would get added to the NAV.
The NAV’s of direct and regular MF’s is different which would mean if I were to invest 1Lac I would get lesser units in direct mode vs regular mode so assuming both grow at same ratio when I want to redeem my direct units will be lesser than regualr units – so I dont understand what advantage we get from direct investment vs regular mode
Ramesh, the quantity of the units doesn’t matter but the value matters. The same query has been answered in details here.
Guys come on… Rs. 50 / month is nothing.
It is worth paying even more to use the platform like Zerodha and then you have the opportunity to invest in DIRECT plans of so many mutual funds.
On average investors will save 0.8% EVERY YEAR!!
Congratulations Nithin on your initiatives and building this great platform.! I’m looking forward to sign-up as customer and start investing in Stocks and Funds.
If you take 50rs per month than its 600rs per year how can you say it’s free.Mfutilities and cams are completely free.How can you say it’s free
Bimal, we only say that the investments up to 25k are free. No charges until then.
Will I have to pay 50 even if I don’t make any investment for that month?
It is good if you have long term goal. Means if your sip is 5000 and if we assume that direct plan give 1% extra return then it may be 3 lakhs return extra on ur money as per sip calculator for 25 year . Regular plan cut commission on every year. 600 * 25 year = 15000 for 25 year in zerodha. Right??? I think this is good.
I have 4 mutual funds amounting to 10000 per month. Now, before if we consider 1%, the total commission would amount to Rs.100.
Due to the direct mutual fund, it would amount to Rs.200.
It is no way better man. Nikhil, you are ruining what you started with.
Another case, if a person can afford Rs 500 per month for investment, he will be charged Rs.50 i.e. 10% of his investment.
This is really cruel.
Poor are getting poorer, rich are getting richer.
Do reply to this.
Anirudh, the first Rs 25000 is free. If you invest Rs 500/month, you don’t have to pay for 50 months or 5 years.
Also it is Rs 50 irrespective of how many ever mutual funds you invest in. So if you invest in 4 mf for Rs 10,000 in a month, it will be only Rs 50 and not rs 200. If you invest normally 10,000, you not only pay 1% upfront, but 1% on total value of your AUM every year. So if your investment had become 1.5lks at end of 1 year, you would pay another Rs 1500 as trail commission (this you keep paying until forever).
Dear Nikhil,
I think you need to clear the facts before someone opt for coin platform. In above eg you are comparing 50 vs 200 while the case is 600 vs 200. 50 is per month and Rs. 200 is per year.
Please compare it on the yearly basis as all charges are on yearly basis. I think Rs. 500 or Rs. 600 is not making sense with the first 25K being free beside one has to bear 5.5 DP charges per transaction at the time of sell. The 1% advantage is lost for the guys who are investing 60K per year as your charges will amount to 1% and direct fund advantage of 1% is lost.
Would suggest to increase the limit of free amount or reduce the charges from 600 to 100.
Regards
Amit
Hi,
The post is meant for Nithin, not Nikhil.
Hope a positive feedback will be accepted. I just moved to coin thinking now I have directplans under one roof and integrated with zerodha. The fees are the big hindrance. Moving to another platform which does not charge a penny do not have DP charges etc.
Hope this is true for other small investors like me.
Regards
Amit
Nithin
Can I start STP in coin by investing in liquid fund and transferring amount regularly to equity fund of same/ other AMC. Or Say SWP from my find. In this case will I have to pay DP charges every time?
Currently not possible.
Please let me know the platform that you have shifted to in order to help all of us for better investment and more returns.
🙂 Amit how will the business be sustainable it doesn’t earn? We don’t want to put something out and then having to pull out.
what are the chances of your increasing this Rs 50/month charge and by how much??
We started charging a brokerage of Rs.20 in the year 2010 when we launched. We haven’t increased anything yet.
thank you . now i understood.
Hi there
Nithin
There is no doubt that coin concept is much better than of earlier if I think rationally about.
But one confusion in this is when the investor wants to invest Lumpsum more than 25000.. say-1,00,000 how will he get the benefit of 1st 25000 being exempted.
Hi Nithin,
Please help. I purchased 10 lakhs of Kotak Liquid fund on 2nd May 2017 using your platform COIN.Zerodha but still these are not credited to my linked CDSL account. Due to this I am not able to redeem it. Now I am made to follow with CDSL, Zerodha, Kotak Mutual fund, but almost everyone saying not their issue. Please help.
Zerodha Ticket: 107104
Regards,
Saurabh
Saurabh, Someone from our team will keep you updated as they have already explained you the details. We’re having this checked.
Thanks. But the bigger question is reliability of zerodha. On 5th May you sent the message of allotment. When the mutual funds has not come into CDSL then how is your system reliable. How it can say Mutual fund “allotted”.
The whole system is doubtful now. Its good I have tried selling and realized that zerodha has not deposited the mutual funds in CDSL, otherwise after years I would have come to know and then who knows who will be responsible. Its like my 10 lakhs worth of good I have purchased and zerodha have not delivered me but taken my money. Thanks you are looking but understand its my 10 lakhs money and its giving me sleepless nights and mental agony.
Really Scary Experience you shared brother. I just now bought 5k worth of MF from Coin plus another 24k already invested now i am worried.
Hi Nitin please do explain why & how can it happen???
This is like short delivery when trading stocks. In mutual funds the person on the other side is the AMC itself. We are working with Bombay stock exchange, and Saurabh should soon have his units. If you have bought MF and it is showing in your demat, that means you have already received the units.
Hi Nithin,
Thanks for personally looking into the issue. I am trusting on you.
But you have to agree that fault is in your system also. Unless the units come to Demat, you cannot send successful allotment message to investor. If you have sent successful allotment message then it means everything is successful and investor is rest assured.
For example if I sell fund then first your system check na whether I really have that many units/stocks or not in my account. Or it just sell and wait for Clearing Corporation to raise issue that On Man he doesn’t have Units how have credited investor account, please get the money back!!! Similarly unless the credit of funds happen to Demat your system should not send successful allotment and till then I believe its all your responsibility. I agree rare failure can happen in transfer from Clearing corporation to demat (though in errorless world it should not). But then it means allotment is not successful and your system is still responsible to make it allotted successfully. I hope I am clear.
Hoping the issue is resolved fast. And you give me confidence that next time I purchase I dont have to worry whether this time it will be alloted or not.
Regards,
Saurabh
My issue is resolved. Thanks to Zerodha support and Nithin.
This indeed needs an explanation pls.Do let us know what wnet wrong here from Zerodha side. I am now scary on investing through Zerodha myself as well.
You can buy Direct mutual funds directly from the respective AMC. Why do you have to pay 50 rupees to Zerodha for that?
You can, indeed. But Coin provides you with the added advantage of having a single portfolio where you can track all your equity and mutual fund investments. Investing with the respective AMCs makes tracking the investments a hassle.
Small Investors who take SIP for Rs 1000 / P.m after 25 Months we have to pay 600 P.a as commission. Its means Rs. 15000 for 25 Year. 🙂
Since the first 25 months are free, that’s 27 years. Additionally, yes, while the charge you’ve calculated is correct for the given time period, you stand to save up to 6l in the same period by switching from a regular fund. The additional benefit is, of course, that with us, you don’t need an e-mandate on your bank account and can easily edit your SIP.
1) What is the mode of holding – Demat or AMC? If demat what are the extra charges?
2) Which AMCs are available as of now? Is it based on MF Utility?
The mode of investment would be demat. The demat account has an AMC of INR 300 per year and allows you to invest in direct equity as well as mutual funds.
When exactly do the 300 rupees need to be paid?
The AMC is paid end of every year.
correct me if I am wrong but do I pay additional rs300 at the end of every year along with rs 600(50 per month) if I invest more than 25,000?
Rs 300 is AMC for demat account. Which can be used for equity and F&O trading as well.
Hi Nithin,
I want to invest 20k every month in SIPs with Zerodha. I do not want to trade. Does this mean I still have to pay 600/year and the 300 for a demat account? Basically, I pay 900/year for investing in SIPs through Zerodha? A reply would be greatly appreciated.
Thanks
Yes Ashish, 900/year would be your total cost. You could use the demat tomorrow to apply IPO’s or for buying ETF’s etc.
Can you elaborate following charges with examples:
DP (Depository participant) charges
₹13.5 per scrip (irrespective of quantity) debited from demat account when stocks are sold. ₹5.5 per MF (irrespective of quantity) debited from demat on redemption. Charged by depository (CDSL) and depository participant (Zerodha)
If you sell stock held in Demat, there’s a charge of Rs.13.5+ST. Of this 13.5, CDSL charges 5.5 and Zerodha charges 8 for providing you the Depository services. When you sell Mutual funds, Zerodha doesn’t charge you anything, only CDSL charges of 5.5 apply.
then who is charging for selling mutual fund?
CDSL, the Depository does charges for the debit transactions.
Hi Sir,It is a Good and Best Idea You Introduce and I Found Some Mutual Fund Which i Invest But I Din’t Find Other’s.
Such as Franklin India Mutual Fund and HDFC Mid Cap Mutual Funds are Not in Your List.
Are You Planning To Board This Mutual Fund or Not.
Because My Portfolio Consists 6 Mutual Funds and I Found Some in Your Mutual Fund List and Some are Missing and I Din’t want to change this.
So,Request to add all Mutual Funds in Your List So That i Can Found Them and Invest Easily and Effectively.
Yes, working on getting all the funds on board soon.
Nitin,
Lots of Direct mutual funds still missing, even the HOT ones.
One one SBI direct listed ? :-O
Getting more funds onboard.
Working on getting them on soon.
Whats the plan, share a time frame please.
Raja, these AMC’s are currently not allowing direct in demat on some funds. So it is more upto them on how soon they can offer. We are following up with the AMC’s.
Hi Nitin
Its June 24, 2017 as I write this query today. As of March 30, 2017, you said that more funds will be on board soon. I want to invest in Franklin India, but it is still not there in the Coin database??
Thanks
It is not in our hand unfortunately. Franklin hasn’t still enabled themselves for direct MF in demat mode.
Konsa Michal fund me invest karu
That means sir if I have more than Rs5000 transaction per month than and than I am going to benefit fit from it(1% of 5000 is 50) otherwise I have to pay over 1% if I have montly transaction less than 5000. Examples. If I have montly sip of 2500 than I have to pay 2% of my sip…. AM I right???????? Please correct my doubts….. Waiting for your reply thanks
Pankaj,
For a monthly SIP of Rs. 2500, there would be no charge at all for the first 10 months. Only after your investment size exceeds Rs. 25000 does the subscription kick in.
will i get the benefit of commission on Rs. 25000 every year???
Also, you need to remember that in distributor mode, you continue to pay trail commission of upto 1% every year for as long as you are invested. This is additional to upfront commission.
I appreciate your efforts Mr. Nithin…you are replying to many post
Dear One,
need better understanding,
what r upfront & trail commission ,it is never reflected in any statement
does it mean that NAV is given after the deduction, whats the frequency of deduction,is it monthly, quarterly/ yrly;
pl make a comparison- say I invest 1000 pm on a MF for say 10 yrs, how much commission they take ?
In case of COIN is it 50x12x10 or( 120 – 25) x 50
may kindly educate us so that I can tell others to join our family of Zerodha
sincere thanks & regards
SK, mutual funds apply an expense ratio daily on the NAV. The expense ratio is higher for distributor mode vs direct. So yeah, it doesn’t get reflected in statement, the NAV reduces. The landing page of coin gives an example, 5k/month SIP at end of 25 years (@15% CAGR), the corpus is Rs 1.38 crores if in distributor mode and Rs 1.64 crores in direct. So Saving of Rs 28 lks.
Hi Nitin,
If the difference is this huge 38 lakhs then why this difference is not reflected in the NAVs after 25 years .
For e.g. if NAV of both the type of funds is same today so after 25 years NAC of indirect fund will be (0.82) times of direct fund. Is it right?
Direct mutual funds werent’ there earlier, AMCs started offering it only recently few years back.
NAV difference has been increasing every year. I did some analysis by taking historical NAV for Kotak select focus fund, both regular and direct. If we consider Zerodha fee 50/- per month, you will still make profit because of this direct funds offering. Obviously more volumes lead to more profit. Appreciate Zerodha for not being too greedy.
Dates Regular NAV Direct NAV NAV difference
25/03/2013 12.075 12.093 0.018
18/02/2014 13.673 13.793 0.12
05/05/2015 22.483 22.898 0.415
17/11/2017 32.726 34.293 1.567
how do you unsubscribe from this platform inorder to save 50 rupees monthly charges.
If you haven’t invested for Rs 25000, there is no cost. So no need to unsubscribe.
So max I pay in a year is Rs. 600.. irrespective of the number of transactions (SIP), value of holdings (whether 1lk or 50lk) and number of funds/schemes.. is my understanding correct?
Yep correct.
Dear Nithin,
Please clarify, the annual charges are correct as per given below,
1) Investments upto 25,000/- for any duration of time no charges/brokerage.
2) Investments more than 25,000/- monthly charge of 50/- month & 300/- for Annual Maintenance of the account which means ((12X50)+300) = 900/- per year.
Regards,
Utsav
1. Yes, after your first 25000 worth of investments on Coin, you will be charged Rs 50/month.
2. Yes
Dear Nithin,
Using this portal to direct pass message to you.Zerodha is about to complete 7 years still showing wrong information in down time.
Today morning (@4th april 2017-holiday) my account details was totally wrong . No position , no holdings , even margin was with -ve value . What is this . Why development and deployment team playing with customer data . If server is down technical issue then why kite- portal is UP. Its better to down website in holidays or weekend rather than showing wrong information . Uneducated person also using zerodha account what will be happen if they see wrong information, for sure they will get frustrate for few hours.
I am pretty much sure zerodha customer asset is secure and there will be no discrepancy even for single rupee but even in down time, holidays or because of some technical issue zerodha must not allowed to show wrong information to customer rather than down website or put under maintenance or whatever . But there must not be any discrepancy in customer information .There is no excuse of huge load,network traffic as organization growing they have to be ready to handle all load or traffic . Please try to discrepency issue even in holidays or weekends.
Regards,
Kite interface lover
Ratnesh, absolutely understand this concern of yours. When we started our business, we didn’t have a budge to afford a good backoffice vendor. As we grew, we wanted to shift, but the growth was so fast that we delayed on this. Today the old backoffice has become a technical debt to our business. We just moved out a big piece over the last weekend. In the next few weeks we will replace completely. Regret the inconvenience caused.
Hi Nothing,
Sorry to catch u on the wrong blog, but just wanted to bring to your notice that I have been following up with your support team for updating my nomination detail, however they fail to do so. They had asked me to courier the details which I did and the same has been rec’d by your team on 1st of this month.
Every time I call them they say we are looking into it and the ticket is left open without resolution.
I being alive have to do so much follow up, I just wonder the deceased family member must be going thru hell lot of things.
It would be a great help if you can personally look into this and give a solution.
Also I request all members to update their nomination details to avoid future hassle.
Regards,
Oscar pinto
Sorry for the experience Oscar. Getting someone from the team to check and get back to you ASAP.
Hi Nithin,
MF’s are systematic and not that real time compared to Equity trading.
You can offer zero brokerage in case of Delivery and Rs.20 for Intraday.
Then Why 50/M i.e. 600/year ?, Seems more with case of Zerodha and double than AMC charges of your equity demat (Rs.300)
Can you bring down this charges as compared to zero brokerage in delivery model?
Thanks.
Sameer, we’re a business and we need to make money to be able to offer you better technology, product. Not all services can be given at 0 cost. The kind of savings that you’ll make by switching to a direct plan beats the nominal fee you’d pay to invest using the platform. If you’re still not convinced, you always have the option of investing through the regular plan where there are no charges.
Hi there,
What about the DP charges?
If i am paying it already for cash market then do i need to again pay for keeping MF’s in demat form on Coin?
I am a newbee, a clarification would be really helpful.
Thank you
DP charge is not for keeping, it is when you sell/redeem – a one time charge. For MF it is Rs 5.5 charged by CDSL when you redeem.
Hi Nithin
As per the below link, icici is charging 1.5% or Rs 30( which even is less) on Sip purchase.
So,if I buy Sip of 2k per month,I pay Rs30 per month or if I purchase Sip for more than 2k, still I pay Rs 30 per month. Is there any other hidden charges..?
http://content.icicidirect.com/mffaq.asp
Wouldn’t be able to comment on charges charged by another broker.
I agree. But this is what they say. I wished a better answer, that would helped me to decide and analyse.
Regards
On the face of it the charges you’ve mentioned seem right, it would be impossible for us to comment on ‘hidden charges’ charged by another broker, if any. I’m curious, why do you want to pay such higher charges instead of using Coin?
The value shown in Coin, including NAV, is not correct as I can see the value shown in Tata Mutual Fund, where I have a login, which shows higher value. Do you deduct any other charges other than Rs.50 per month from the NAV, or is there a disconnect from the NAV value shown in Coin and Tata Mutual Fund site ? Obviously Mutual fund site shows the correct value as we can invest through any distributor directly there, whereas Coin site lags behind..
Hi Sriram,
You have invested in a liquid fund and the AMCs declare the NAV of such funds even on a Sunday (unlike debt and equity funds). The NAV reflecting on COIN is of Friday (18th August) and thus your investment value was shown as per the NAV of Friday. There was a minor issue from our data vendor who provides the data related to each scheme because the latest NAV was not updated on COIN. However, you should be able to view the latest NAV and investment value tomorrow morning after 10 am, since the NAV declared tonight would be updated on COIN only by tomorrow morning.
Let us know if you still find any discrepancy in your investment value.
Even though I can see in Tata Mutual Fund that the redemption is carried out, it is not reflecting till 11.15 am on the availability of funds. As it is, instead of doing through Bank, where I can get the funds immediately on redemption, here I have to wait for another day, because after redemption, only by evening 7.30 pm you are allowing the funds to be transferred to bank account. But even after redemption, if it is not shown properly, it makes our position worse.
I think I will not do anymore investment in your mutual funds, as I can see no great benefit in interest rates in liquid mutual funds, between direct and regular…
Sriram, the difference adds up over time. We are also looking at ways to have same day withdrawals.
Hi Nithin, I have partially withdrawn most of the Direct funds and when I asked for redemption of the last portion – about Rs. 2.5 lakhs, it does not allow redemption for the past 1 week with the comment- redemption not allowed in this mutual fund.. When I see in Tata Mutual Fund, I can see they accept redemptions, but is it Zerodha, which is barring my redemption ? if so , why ? I want to discontinue this immediately and get my funds back
Hi Nithin, I have partially withdrawn most of the Direct funds and when I asked for redemption of the last portion – about Rs. 2.5 lakhs, it does not allow redemption for the past 1 week with the comment- redemption not allowed in this mutual fund.. When I see in Tata Mutual Fund, I can see they accept redemptions, but is it Zerodha, which is barring my redemption ? if so , why ? I want to discontinue this immediately and get my funds back..
Sriram, can you write to [email protected] with all the details.
why can ‘t you take action ? why should I write to support ? it is very simple.. I am asking whether the redemption is not allowed by Zerodha or Tata Mutual ?
Boss Nithin in case, my dad has invested RS 50,000 though ”My” account – Zerodha coin.. so i’ll have no more 25000 minimum amount benefit,
And now I have started a sip of 500 per month and you are charging 50 per month..
Boss please reduce monthly charge to 25 or less.. till an investment amount of 1,00,000 & then to 50 so that returns can offset the charges.
Bharath, the subscription fee of Rs 50 will be applicable after the investment cross Rs 25000 be it in a SIP or lumpsum.
Hi Nithin,
Pl tell me why some mutual fund plans are missing on coin platform. Can you pl update them on coin also so that I (and many more like me) can invest in the same.
Hey Sunil, a few funds aren’t empanelled on BSE StAR MF, the back end we use for placing your orders. We’re in talks with the AMCs and BSE StAR MF to get these online ASAP.
Hi Nithin Kamath,
I invested Rs. 24000/- in ELSS Direct funds in this week, and this is first time investment. I would like to invest 1 lakh in ELSS regular funds.
So if I invest 1 lakh in ELSS regular funds, do you charge the same like Rs.50/- per month or not? As you charge only for direct funds for the investment more than 25k.
Thanks – Venkat
nitin,
sir pl explain me how i can get trail charges which a broker gets, if i purchase mutual funds from coin.
If I purchase over 25000 how 50 rs will be deducted from my account?
Hey Sandeep. A debit of Rs. 50 will be posted on your trading account ledger each month.
this is confusing please make it simple as like ur flat 20rs brokrage plan i have suggestion that u charge flat 20rs then it will be more sucessful
as per your website still showing under “Introducing Coin – our direct mutual fund platform” 1st and 6th point as below.
1. No commissions whatsoever on your investment – either upfront or trail.
6. Flat fees of just Rs 50/month for subscribing to Coin irrespective of number/value of MF transactions across all fund houses. Moreover, your first Rs 25,000 worth of investments is absolutely free.
what it means?? still charging or completely free from now onward for lifetime…. ?? please clear
Hello Nitin, Does Coin offer ability to connect with my website to place buy/sell orders – something like Z connect
Hey Pavan, the APIs are there, but there are some regulatory issues. Can you write to talk[at]rainmatter[dot]com with more details so we can help?
Very costly mutual fund services as compare to other brokerage firms. There are other firms like NJ Client, Rwadiwala. provides mutual fund service in very reasonable rate around 350 per year.
Jaydeep, all the companies you mentioned are distributors. In addition to this fees they earn upto 1.5% of your investment as upfront commission and upto 1% every year as trail commission. In direct plan, we will not earn any commission from the AMC. You save all that money.
Nitin, You need to update the article to show the separate Expense Ratios the Mutual Fund companies apply in Direct vs Distributor Mode. People are not aware of this major difference, and thus this confusion
Yep, agree. Guess need to do more to create awareness.
Well, your charges are very very low. I guess if you are able to bring all MFs on board, it would be a great idea. Amazing stuff. Kudos!!
Thanks for quick reply. I got your point.
Can you just clarify about the charges like,
If I have invested 30000 on Direct MF today. Afterward, I will be charged by 25 Rs/Month as my investment is >25000. Is is like that? or 25000 lower limit of investment per year/month ?
Hmm.. the first 25000 of investments on coin is free (this is not per year/ per month), after that Rs 50/month.
Hi Nithin
Good to see that you try to respond to as many queries as you can.
As the article mentions that holding above Rs 25000(sip or lumsump) will attract charges of Rs 50 per month Right ?
Lets say I have a sip of 25k per month. For the first month no subscription fee and thereafter from. The second month I will paying additionally ₹50 as the subscription fee for using your platform.
So you have given an example of 25 years timeline being invested into your platform. A user or investor of your platform will end up paying
550 for first year.
600 every year for next 24 years, which is 600 * 24 = 14,400
Subscription fee for 25 years will be ₹14,950. Is this what you are trying to.explain in an article.
This amount is irrespective of sip or lumsump amount. Only you will charge for platform fees.
Ah, I must have done a bad job writing this post. :). Yes you are right.
Dear Nithin, I am an MF Investor with other distributor and I could see the SIP amount and allocation of NAV’s in the statement correctly. Say for example I am buying an SIP of Rs.1000 with NAV value of 35.149 then I should get 28.45031. The numbers are showing correctly in the statement and even in the CDSL mail.
Can you please clarify then how come the distributor takes a commission of 1.5% and trail of 1%.
Thanks,
Balaji
The commission is already included in the NAV. Had you invested the same Rs.1000 in a direct fund, over a period of time, your returns on the direct fund will be much higher than the returns you would make on the regular fund. The AMC’s don’t deduct 1.5% commission and then allot units, the NAV at which they allot you the units will include the commission they charge.
Dear
Mr Kamath
I have 20 MF. All are lumpsome. I want to reduce the number to 10. Can your company can advise me to choose best funds and transfer the same to your Org. Do U have a office in Bengaluru?
Charles, we currently don’t advise. yes, we have an office in blore.
Do you also provide advice on what mutual funds I should have in my portfolio or is it like that you are just providing a platform for all my funds and all the investment related decision I have to take it by my own?
And the total charge that I have to give annually is like 50*12 plus 300/- for Annual Maintenance of the account?
We currently don’t offer an advice, just an execution platform. Yes Rs 50 x 12 + 300, but you can also buy all stocks ETF etc.
Is it 25000 INR per year investment or 25000 INR monthly investment to reach paid subscription?
Rs 25000 overall.
What about Depository charges if MF units are in demat form…Even that has to be taken into consideration..if we want to redeem units which are in Demat account, then there is a depository charge plus service taxes…that does not implies on MF’s which are bought directly from AMC’s….Now that comes out be a large amount…but that does matter..Also, I am having 2 funds which are directly through AMC’s…its very simple nowadays..just have to register with all your details…if you are KYC complaint…then the process becomes fast..otherwise it takes around a day…All AMC’s are having good technological setup today on their web portal…You get every option like redemption,STP,etc..
I would always go with direct MF with AMC …
Good point and no reply.
Hey this is not a question to reply, is it?
Hi,
I want to invest in MF Rs. 25,000/- on monthly basis. What is the charges???
Regards
99531 59780
Rs 50 per month is all that we charge. There is no commission we earn from AMC.
Hi Nitin, It’s ok to pay a fee of Rs. 50 per month now. Should consider revising it downwards on getting more customer base going forward. Rgds Ram
Hi,
I am not able to invest in SBI Small & Mid Cap mutual fund.
Can u please make it available to invest?
Direct plan is there for SBI Small & Mid Cap.But it is not showing in Zerodha.com
Kishore, the fund has stopped accepting fresh inflows.
up to 25000 per month investments Zerodha fees is 50₹/month.
Hi,
I ve a suggestion for coin. It would be better to have STP & SWP option for existing MF investment.
In the works. 🙂
SIP only deducted from zerodha money means every month transfer charges Rs 10.60 also bear by the customer.
Means total 10.60+ 50 + GST i.e around 65/- per month bear by the customer. It’s too costly
After reading All these – My decision is to opt of Zerodha – Its better to loose 300 right now ( Free charge cash back used – 65Rs ) .. Exploring different options always helps – that is how we eveolve – not to be carried away by all the goods and feedback where people give 4 stars and request for help . I will do some more reseasrch on MF utilities –
I have just opened my account with Zerodha – yesterday – Havent sent the POA yet – and wont send it either . I might use the Demat account but wont use coin for sure
How ZERODHA runs on thinner margin?
Answer:
1. Zerodha has a Yearly AMC of Rs. 300/-
2. Zerodha’s COIN has monthly charges of Rs. 50 per month when once the investment through coin crosses more than 25000. i.e. Rs. 600/- per annum. (inspite of the fact that if the amount invested comes to less than 25k like in case of withdrawal even then charges of Rs. 50 will be levied)
3. Zerodha’s SCREENER PRO comes with a 14 day free trial. But majority of the screeners will come in premium mode hence user needs to get a premium access. SCREENER PRO comes with a cost of Rs. 100 per month i.e. Rs. 1200/- per annum. (better to use NSE / BSE Website / Money control website that offers this at free of cost.
4. MIS/BO/CO Orders if not covered by User at the proper time and if Zerodha’s RMS team (System work) does that then it will be considered a Call and Trade. Hence Rs. 20 per trade.
Now the DELIVERY EQUITY Trades are free. But the Intraday trades / Commodity / FNO trades are charged at 0.01% of trade or maximum Rs. 20.
Even if a general trader cum investor trades through MIS/BO/CO orders and he is not closing his position then due to Call and trade feature activated on this mechanism Zerodha earns Rs. 20 for doing the system work which helps actually them to abide by norms. Majority of users will use BO / CO / MIS orders so that more quantity can be traded with small margin amount also which majority of brokers are providing.
Even if you don’t do Intraday trading /commodity / currency / FNO trading, you have to shell out Rs. 2100/- per annum (Rs. 300/- + Rs. 600/- + Rs. 1200/-) using coin (more than 25k investment) and SCREENING with PRO platform.
I hope this is DOUBLE CHARGES than the MOST CHARGING BROKING FIRM in the industry.
Wanna try this ….Just post a negative comment on their Z Connect blog and take a screenshot with date and time. You will be surprised to see that the link will be removed on priority basis and you will not be able to see that your post again.
Zerodha Kite / PI has got a history to remain inactive / dormant / hanged on more important days. Few people says that atleast their CEO is giving OPEN apology. But my question is WHETHER ZERODHA IS REFUNDING THE LOSSES WHICH HAS OCCURRED TO THEIR CLIENTS ON THOSE IMPORTANT DAYS? The answer is NO…(Please note that since I am not an intraday trader that does not make me more sense….but a Top Rated broking firm should first create proper technology support (Bandwidth / Server down/ glitch are not acceptable) rather than launching several products to lure the customers….
Hi Nithin,
I am not able to view and purchase New Fund offer through coin… how can I buy please suggest.
Hi Nitin,
Other platform provide the direct mutual fund without any flat fee for month, then why zerodha take flat 50/- per month
Thanks
Ramesh
Hi Ramesh, hence I mentioned on the post – “This has helped us build a sustainable platform”. For us it works out with even as little as Rs 50 because this is continuation to our primary business of allowing people to trade stocks. I know currently we are all spoilt by choice with all the cash backs and free offers fueled by VC money pouring into Indian startups. But this ain’t going to last forever. When it stops, only platforms that have a revenue model will survive. It is important for you to be cognizant that unlike an online shopping portal where you are there only for that transaction, your relationship with a platform for investment is much longer.
Is POA needed for redeeming index mutual funds invested through Coin app ?
Saif,
Yes, PoA is required for all debit transactions from your demat account, for stocks as well as Mutual Funds.