Comment on Introducing Coin - our Direct Mutual Fund Platform

Ashish commented on 02 Apr 2017, 01:13 AM

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 …


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