Introducing Coin – our Direct Mutual Fund Platform

March 27, 2017
Mutual Funds, Sticky


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)


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 was in distributor mode and will start redirecting to 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 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,

Happy Investing,

Nithin Kamath

Founder & CEO @ Zerodha. Partnering startups through Rainmatter. Love playing poker, basketball, and guitar. @Nithin0dha on Twitter. | Personal website:


  1. Kaustubh Deshpande says:

    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.

      • Mahesh says:

        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 .

        • Nikhil A says:

          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.

          • Yosh says:

            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.

              • Prakash Hegde says:

                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.

                • kisundar says:

                  Investment using 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.

                    • Arun says:

                      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.

                    • Dilip Patil says:

                      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.

                    • Sanjay says:

                      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.

                    • Milind Patel says:

                      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.
                      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.

                    • UV Ramesh says:

                      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

                    • Zerodha Social says:

                      Ramesh, the quantity of the units doesn’t matter but the value matters. The same query has been answered in details here.

                • VG says:

                  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.

              • Bimal says:

                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

              • Nikhil M says:

                Will I have to pay 50 even if I don’t make any investment for that month?

            • Rajeev says:

              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.

          • Anirudh Negi says:

            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).

              • Amit Bajaj says:

                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.


                • Amit Bajaj says:

                  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.


                • 🙂 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.

              • satish says:

                thank you . now i understood.

              • Bharath A says:

                Hi there
                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.

          • Saurabh says:

            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


            • Akshay.A says:

              Saurabh, Someone from our team will keep you updated as they have already explained you the details. We’re having this checked.

              • Saurabh says:

                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.

                • Anup Gogoi says:

                  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.

                    • Saurabh says:

                      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.


                    • Saurabh says:

                      My issue is resolved. Thanks to Zerodha support and Nithin.

                    • Arjun Suresh says:

                      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.

          • Happy Cats says:

            You can buy Direct mutual funds directly from the respective AMC. Why do you have to pay 50 rupees to Zerodha for that?

            • Matti says:

              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.

              • ALOK KATHURIA says:

                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. 🙂

                • Matti says:

                  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.

      • Nilesh Gadge says:

        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?

        • Nikhil A says:

          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.

        • Nilesh Gadge says:

          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)

      • Krishna Murti says:

        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.

      • Pankaj says:

        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

      • skghosh says:

        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.

          • arpit tiwari says:

            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.

            • Peddi says:

              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

      • Gaurav says:

        how do you unsubscribe from this platform inorder to save 50 rupees monthly charges.

      • Prem Singh says:

        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?

          • Utsav says:

            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.

      • ratnesh kumar says:

        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.

        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.

      • Oscar says:

        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.

        Oscar pinto

      • Sameer says:

        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?


        • Venu says:

          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.

      • Narendra says:

        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

      • Debashis says:

        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..?

        • Venu says:

          Wouldn’t be able to comment on charges charged by another broker.

          • Debashis says:

            I agree. But this is what they say. I wished a better answer, that would helped me to decide and analyse.


            • Venu says:

              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?

      • Sriram says:

        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..

        • Faisal Rahman says:

          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.

          • Sriram says:

            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.

              • Sriram says:

                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 says:

                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..

      • Bharath A says:

        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.

        • Zerodha Social says:

          Bharath, the subscription fee of Rs 50 will be applicable after the investment cross Rs 25000 be it in a SIP or lumpsum.

      • Sunil Kumar Singh says:

        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.

        • Matti says:

          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.

      • Venkat says:

        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 says:

        sir pl explain me how i can get trail charges which a broker gets, if i purchase mutual funds from coin.

      • Sandeep kumar says:

        If I purchase over 25000 how 50 rs will be deducted from my account?

      • dakesh says:

        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

      • Suman Agarwal says:

        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

      • Pavan says:

        Hello Nitin, Does Coin offer ability to connect with my website to place buy/sell orders – something like Z connect

        • Matti says:

          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?

    • Jaydeep says:

      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.

        • Sunny says:

          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

        • Jaydeep says:

          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 ?

        • Vijay Rai says:

          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.

        • Balaji says:

          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%.


          • Venu says:

            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.

    • Charles says:

      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.

        • Nishant says:

          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?

    • Vivek Yadav says:

      Is it 25000 INR per year investment or 25000 INR monthly investment to reach paid subscription?

    • sha_rane1 says:

      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 …

    • Shalini Thakur says:


      I want to invest in MF Rs. 25,000/- on monthly basis. What is the charges???

      99531 59780

    • Ram says:

      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

    • Kishore Reddy says:

      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

    • Rambabu says:

      up to 25000 per month investments Zerodha fees is 50₹/month.

    • Nilotpal says:

      I ve a suggestion for coin. It would be better to have STP & SWP option for existing MF investment.

    • Vicky says:

      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

    • Vijay L says:

      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 –

      • Vijay L says:

        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

    • James007 says:

      How ZERODHA runs on thinner margin?


      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….

    • Roopesh says:

      Hi Nithin,

      I am not able to view and purchase New Fund offer through coin… how can I buy please suggest.

    • Ramesh Kotkar says:

      Hi Nitin,

      Other platform provide the direct mutual fund without any flat fee for month, then why zerodha take flat 50/- per month


      • 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.

    • Saif says:

      Is POA needed for redeeming index mutual funds invested through Coin app ?

  2. ANKESH says:

    God bless you brother

  3. Manish Kayal says:

    Congratulations & Many thanks Nitin for launching this platform. Wish you all the best.

  4. Sumit says:

    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 ?

    • Nikhil A says:

      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.

  5. VINAY KHANNA says:

    just excellent. what a thought process.

  6. Ruchi Shukla says:

    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?

    • Nikhil says:

      If you want to switch your current funds or SIPs from distributor to direct, you may exit them and invest afresh.

      • Chetan says:

        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.

          • Bharath says:

            How to change further instalments to direct mode in case of elss fund.

            • Stop the previous SIP and start the new one.

              • dhaval says:

                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.

                  • Ashish says:

                    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]

              • sushil says:

                how to stop ELSS sip? by deleting from SIP Details & Conditional tab or redeeming them from portfolio tab?

      • Sharad says:

        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


        • Naved says:

          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?


          • hmm.. currently not possible to switch. Whatever you have set as SIP, you can let it continue. For deductions, login to 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.

          • Swapnil says:

            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.

  7. Nikhil says:

    What is the thought process behind terming it as Coin?

    • Nikhil A says:

      The idea was that every rupee saved is a rupee earned. The “Coin” is that rupee. 🙂

      • Ramakrishna says:

        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.

  8. arun sharma says:

    what the amc charge even in direct mutual fund will be charged besides this rs 50 charged by

  9. Vivek Raj says:

    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 !

  10. Vaibhav says:

    Its nice. I was using different websites to do direct investments. Now I can directly do it from here itself. Awesome.

  11. sat says:

    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

  12. prashant says:

    wow, nithin kamath disrupts the mutual funds industry overnight!!! kudos sir

  13. Nisarg says:

    Does it mean 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.

    • Nikhil A says:

      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.

  14. Jinesh says:

    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 ?

    • Nikhil A says:


      Orders placed until Friday were all for regular plan.

      • Anuj says:

        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?

  15. Shyamanuj Saikia says:

    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.

  16. Shakeeb says:

    My SIP will be deducted from my Bank account or from my trading account.

  17. Vivek says:


    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?


    • Nikhil A says:

      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.

  18. syed says:

    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

  19. Sukesh says:

    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.


  20. HARISH says:

    I think MFUTILITY is already a facility freely available for convenience which you want to provide with your platform.

    • arun sharma says:

      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.

      • RAJIV says:

        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.

          • Santosh C says:

            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.

            • Anirban Mukherjee says:

              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. 🙂


              • Charan says:

                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.

          • Anand says:

            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 ….

  21. Shubhasis says:

    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..?

  22. Krishna Murti says:

    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.

    • Nikhil A says:


      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.

  23. Krish says:

    I have several SIPs in

    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

    • Nikhil A says:

      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.

    • Zerodha Social says:

      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

  24. Ramkumar says:

    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

    • Nikhil A says:

      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.

  25. ROHIT SHARMA says:

    zerodha keep on rocking, added many features
    thx Mr Nithin

  26. kumar chowdary says:

    ,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

    • Nikhil A says:


      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.

  27. vijay says:

    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?:)

    • Nikhil A says:

      That’s true of course, however, Coin gives you the convenience of having all your investments in one place. Makes managing a breeze.

  28. Varun says:

    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 ?

  29. John says:

    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 ?


    • 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.

  30. S.M.Keswani says:

    What are the demat holding charges for each MF and equity? How do u make money? on both platforms???

  31. Victor Mukherjee says:


    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?


    • 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.

      • Jinesh says:

        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.

  32. Sandeep Gupta says:

    Charges should be Rs. 25 per month.

  33. Avinash Singh says:

    Upto ₹25000 free in a year of investment or all the time investment?

  34. Rama Raajun Sankara says:

    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?

  35. PS Bindra says:

    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.

    • 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.

  36. Dr J L Bansal says:

    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.

  37. Priyanku says:

    Hey Team,

    Every time I try to open, 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?


  38. Nidhish says:


    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?


  39. Sameer W says:

    Superb news !!! Thanks for bringing up this platform.
    Funds from which mutual fund houses we can buy in Direct mode?

  40. Malcolm Correa says:

    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.

      • Malcolm Correa says:

        So in the previous distributorship mode, Zerodha was charging me?

        • Malcolm Correa says:

          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.

          • Malcolm Correa says:

            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?

            • Deepak Shenoy says:

              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:

              The regular plan has done only 22.59% in the same time:

              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.

              • Malcolm Correa says:

                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.

              • Sharad says:

                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.

      • Sharad says:

        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 🙂

  41. Manish says:

    Thumbs up!!!!!!!!!!!!!!

    Please try getting all others on your platform.

  42. Rahul says:

    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?

  43. Sunny says:

    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?

  44. Sharad says:

    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.


  45. Sukesh says:

    Can we pledge the units purchased on coin and use it for future n options margins??

  46. manu solomon says:

    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

      • manu solomon says:

        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.

  47. raja says:

    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.

  48. shree says:


    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?

  49. senthil says:

    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?


    • 1. P&L is available. Other reports will start showing up along with equity on Q.
      2. No
      3. Over 20 currently. More soon.

      • Sharad says:

        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

  50. Danny says:

    Dear Sir,

    Can i make you the distributer of my dirext mutual funds by adding your ARN number?

  51. Rakesh says:


    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.

  52. Suraj says:


    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?

  53. Surendranath Srinivasan says:

    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.


    • 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

  54. Tushar Deshpande says:


    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.

  55. Dev V says:

    Mutual Funds will soon become a trading product n every one knws the end results.. All the best!

  56. Neeraj says:

    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.

      • Abhineet Verma says:

        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?


        • This will take time Abhineet

          • Prem Kumar M says:

            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?

  57. Subhash Goyal says:

    This is really great news Nitin. Thanks to you and Zerodha for making low cost trading possible.

  58. Mihir says:

    I have purchased some fund through mf . 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.

  59. Kishan Sen Laskar says:

    Hi Nitin,

    What are the costs for redemption? Will there be NSDL / CDSL charges for the same like equity?

  60. saurabh says:

    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.

      • Saurabh says:

        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?

  61. RS6006 says:

    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 ?

  62. Arul says:

    I always do my SIP investments directly in the fund houses after reviewing the fund performance using the following websites such as, and money 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 !!!

    • Rakesh says:

      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?

      • ROHIT SHARMA says:

        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.

      • 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.

  63. Mahendra says:

    Hi sir I want start investment as sip plz guide me

  64. Ramakrishna says:

    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 …

  65. Girish says:

    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.


  66. Anil Kumar says:

    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 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.

  67. Ravi Kulkarni says:

    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 .


    • veer says:

      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.

      • veer says:

        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.

          • Pulkit says:

            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.

  68. veer says:

    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..

  69. Aravind says:

    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

      • Aravind says:


        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:
          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.

          • Raj says:

            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?

  70. sujit says:

    Hi , I am not investing anything through coin . How can I access the existing investment ?

  71. Santosh says:

    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.

  72. Abhimanyu Sahoo says:

    Many ELSS fund missing in your direct fund which I am having in my portfolio. It seems you are forcing your choice on us.

  73. yuvraj singh shaktawat says:

    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.

  74. Ram says:

    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…

  75. Sudheer Yelleti says:

    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!!.

  76. Kaushal Patel says:

    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.

      • Sacchidanand says:

        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 ?


        • 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.

  77. Shiva Oleti says:

    Dear Mr Kamath,
    I didnot understand the how it is different from As you said that is run on distributor mode. 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 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,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

    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.

  78. Aditya says:

    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.


      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
      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.

  79. Mani Hemanth says:


    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.



      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).

      • SITARAM KATARUKA says:

        Also the issue of applicable EXIT Load will have to be considered, if any.

        • Mani Hemanth says:

          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


    • Mani, you will not be able to convert the ELSS. All your future ELSS can be made using direct.

      • Mani Hemanth says:

        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.


  80. Dobal says:

    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.

      • Dobal says:

        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


      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.



  82. Nitin says:

    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.

  83. Padmanabh Shenoy says:

    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.

    • RAJIV says:

      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? 🙂

        • RAJIV says:

          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.

            • Arun says:

              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.

  84. ragu says:

    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! :–)

    Anyways, good luck with

  85. ragu says:

    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?

  86. Kaushik says:

    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

  87. Binny says:

    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.

  88. Neeraj says:

    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…. 🙂

  89. Vignesh murthy says:

    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

  90. samved says:

    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 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 :).

  91. vishal says:

    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..

  92. Sri says:

    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.

  93. Anuj says:

    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.

  94. Prateek says:

    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.


  95. Veer says:

    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.


  96. SANDEEP says:

    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.

  97. Priyanka says:

    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 ?

  98. Yogesh Sane says:

    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.

  99. RainMaker says:

    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.

  100. Anil Kumar says:

    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.

  101. Pradip Goswami says:


    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?

    • Venu says:

      No, investments made through the MFU platform will not show on the Coin platform, they would show up in your Depository statement though.

  102. Aravindan Selvaraj says:

    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).

  103. Saket Sinho says:

    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 :))


  104. VP says:

    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?


    • VP says:

      f) Is the Flat fee of Rs. 50/month an introductory fee and bound to go up in the near future?

    • 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.

  105. Sharad says:

    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 ?

  106. govil bhole says:


    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!!!

  107. Raghunand V N says:

    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.


  108. Vishaal says:

    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 .


  109. Deb says:

    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 !

    • Venu says:

      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.

  110. Yatish says:

    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.

  111. veer says:

    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.

      • Veer says:

        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.

  112. srinivas m says:

    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.

  113. Praphs says:

    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.

      • Rahul Singh says:

        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.

          • Rahul Singh says:


            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.

        • Faisal says:

          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.

  114. ali says:

    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!!!

  115. Saurav Mitra says:

    Its always nice to see a new plat

  116. Saurav Mitra says:

    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 .

  117. Sumit Shekhar says:

    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 ??

    • Sumit Shekhar says:

      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

  118. Namish says:


    Shouldn’t you consider keeping the charges a bit low from 50/- ?

    I think 30/- looks fine from all segments of investors..

  119. Prathibha says:

    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.

    • govil bhole says:


      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!!!

  120. Jeyaseelan Sukumar says:

    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.

  121. Anuj says:

    If I have existing Direct fund holding would they be counted towards 25K limit?

  122. Pralad says:


    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?

  123. Jatin says:

    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.

  124. Rajeep says:

    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) ?

  125. Raja says:

    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:

      • Raja says:

        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.

  126. Pravin Gawas says:

    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).

  127. Dileep Kumar says:

    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,

  128. Chandrashekhar says:

    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?

  129. Sureet Chauhan says:


    Will Zerodha also charge the AMC of Rs 300 apart from Rs 50/month fee for mutual funds?

  130. vikas says:

    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 ?

  131. Harish says:


    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?


    • Currently we are not allowing NRI’s to invest in MF through us because of some PIS issues. We are working on it though.

      • Siddu says:

        HI Nithin,

        I think its better to have a separate page for NRI’s in, 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.

  132. Vinayak says:

    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

    • Faisal says:

      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.

      • Vinayak says:

        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?

      • Vinayak says:

        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?

  133. Tharun George says:

    I have invested in HDFC ShortTermPlan – Regular Plan via old platform. But unable to find this fund to buy again via Coin.

  134. Bhuvaneswari says:

    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,

  135. Priyanku says:

    Hey Team,

    I am unable to find “Mirae Asset Emerging Bluechip Fund – Direct Plan (G)” in coin. Will it be added some time later?


  136. Varun says:

    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

    • Venu says:

      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.

  137. Ravindra says:

    Is there a plan for starting SWP option as well on coin?

  138. Prashant says:

    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?

  139. Zainul Abedin says:

    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??

    • Venu says:

      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.”

  140. Vishwas says:

    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?

  141. Tamanna says:


    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.

    • Venu says:

      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.

  142. Bhuvaneswari says:

    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.

  143. Bhuvaneswari says:

    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.

      • Bhuvaneswari says:

        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.

      • Ankur says:

        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.

  144. DR says:

    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.

  145. Harsh says:

    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.

      • Harsh says:

        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.

  146. Ashish says:

    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 …


    • 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.

  147. Gaurav Sekhani says:

    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

  148. Sunny says:

    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 .

  149. Amitkumar Gupta says:

    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.

  150. Vinoth says:

    What happens to my existing investments, when i unsubscribe to coin?

  151. Manoj says:

    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, 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.

  152. Harshad says:


    What if when i do SIP , from where the money be deducted ZERODHA ledger or from my bank account..?

  153. Arun says:

    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).

  154. Tharun George says:

    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.

      • Sudheer Yelleti says: