Coin is a mutual fund platform from Zerodha that lets you buy direct mutual funds online with no commission. Once you open Zerodha demat account its gets opened . You don’t have to do or pay anything extra for Coin. So you get stocks, mutual funds, bonds, all in your Demat account.
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Why should one use Zerodha Coin to Buy Mutual Funds
Coin is Zerodha’s direct mutual fund platform started in April 2017 and from 24 Aug, 2018 it is completely free.
- Zerodha coin can be used to buy Direct Plans of Mutual Funds. So no commissions when you buy Mutual Funds.
- It is available both as website and an App(for both Android and iOS)
- Once you open demat account on Zerodha its gets opened. You don’t have to pay anything extra for Zerodha.
- You can do lump sum or do SIP through Coin.
- In Coin for SIP, you can start, increase the value/decrease value/pause/stop SIP anytime without any NACH requirement.
- You can also transfer your existing mutual funds to Zerodha Coin.
Direct Mutual Funds do not pay commission to the agent, so Direct Mutual Funds have a lower expense ratio than regular funds and hence results in saving for investors over a long period of time. Our article Direct Investing in Mutual Funds: Difference, Expense Ratio, How to Invest, Apps explains Direct Investing in Mutual Funds in detail.
Compare Direct Mutual Funds Investing Platforms: ETMoney, PayTM Money, Zerodha Coin,Kuvera, Groww compares various Mutual Fund platforms for investing
Advantages of Having Mutual Funds in Demat Account
You hold Mutual Funds in an electronicDEMATformat which gives a single portfolio view of all your stocks and mutual funds in one place.
- Single capital gain statement, Profit & Loss, visualizations, and more.
- It is extremely easy to pledge and take a loan against in case of emergency.
- MF or stocks in demat are much easier to claim by dependents (nominee of demat) in the case of death.
- Direct plans with multiple AMC’s means multiple folios, difficult to aggregate and claim.
Our article Mutual Funds and Demat Account talks about how one can have Mutual Fund units in Demat accounts.
How to use Coin App of Zerodha
Once you open Zerodha demat account its gets opened indirectly. You don’t have to pay anything extra for Coin. So you get stocks, mutual funds, bonds, all in your Demat account.
Login to Coin
You can log in by opening the Coin app on Mobile and clicking on the ‘login’ button. Then enter your login ID, password and your 6 digit security PIN. Your login details for the Coin are the same as your Zerodha Kite login. You would’ve received an email with your login credentials when you would’ve opened your demat account in Zerodha.
Search mutual fund schemes on the Coin
On Coin, you can search for mutual funds based on the different criteria or search Mutual Fund by name.
- Fund House
- Scheme type (Equity, Debt, liquid, etc.)
- Minimum purchase amount
- CAGR
- Type of reinvestment- Growth, dividend payout, etc
To use the filtered search, click on ‘Explore’ on top of the homepage. Click on the blue filter button on the top right-hand corner. Select the metric based on which you want to filter and click on Apply.
To search for a specific mutual fund scheme, scroll down and click on‘Explore’.You can type in the name of the fund you are looking to invest in.
Search Mutual Funds on Zerodha Coin
How to add money to Zerodha account to buy Mutual Funds on Coin
- To add funds, click on the Account tab, and then selectcash balance and click on Add funds.
- You can add funds through Net Banking, or UPI applications like Google Pay.
- Enter the amount you want to add, and then select the method of payment, Net Banking or UPI. There might be payment gateway charges for example for using Net banking one has to pay extra Rs 9 + 18% GST to transfer.
- You can also schedule automatic payments using e-Mandates. Click here to know how.
Add Money to Zerodha Coin through NetBanking
- Enter the amount you want to transfer. Select the segment i.e. equity or commodity by choosing in the drop-down
- Click on‘Continue’ and you will be redirected to the net banking portal of your bank.
- Once you enter the details on the net banking portal of your bank and authorize the payment, a window will pop up with the details and status of the transaction, If you haven’t seen it, wait for a few seconds till you see the window.
- You will have to click on ‘Close’ in this window because if you don’t, the fund transfer won’t be instant and can take some time.
How to buy a direct mutual fund on the Coin
- Once you have searched and decided on the mutual fund to invest in, you can click on buy or SIP to open the order window.
- The buy order window will display your fund balance and you also get the option to add money to your account.
- Enter the Investment amountand confirm by clicking on Buy. Once your order is confirmed, you will be able to view your order underInvestments > Orders.
- Depending on when you place the order, Your mutual fund would be bought the same day or next working day, NAVs would be different.It depends on the cut-off time of Mutual Funds.
How to start a SIP on the Zerodha Coin?
You should have sufficient balance to start SIP to make Initial Investment. At any time you can modify your SIP.
- Once you have searched and decided on the mutual fund to invest in, you can click on buy or SIP to open the order window.
- Enter theInitial Investment Amount.The Initial investment amount varies for each fund.
- Add Installment amount for the SIP
- Select the Frequency of your SIP. It can be Weekly, 15 Days, Monthly or Quarterly (the order placed for the next instalments will be based on the frequency you select). If you select the monthly option you can select the date (1st, 5th, 10th, 15th, 20th, 25th).
Enter the total number of instalments or you can select the until cancelled option.
How to start SIP on Zerodha Coin
How to track your mutual fund portfolio on the Zerodha Coin?
To view, your portfolio/investments click on the Investments tab or click on Portfoliodock on the home page. All your investments will be displayed here. By clicking on theSort icon on the top right-hand corner of the page, you can sort your portfolio based on the Name of the scheme (plan), Invested amount, Current amount, Profit & Loss etc
You can see your transaction history
To view the transaction history, click on Investment and click on the fund for which you want to see the transaction history and click on the context menu (round blue button) on the bottom of the screen and click on Transaction History
See your mutual fund investments on Zerodha coin
By clicking on any of the funds you have invested in, you will be able to see
- The ‘P&L’ in terms of percentage and the amount,
- The total invested amount and the current amount
- Latest NAV (net asset value)
- The number of units you hold
- The Average Nav in case you have made multiple investments in the same fund
- The redemption time frame for fund
- The Folio Number
- Transaction history
How to sell mutual fund on the Zerodha Coin?
Open up your portfolio on the Coin . Click on the fund which you want to redeem.
Once the fund page opens up, click on the context menu (round blue button) at the bottom of the screen and click on Redeem
The redemption order window shows – the number of units you hold, the redemption time and you get the option to choose if you want to redeem all your units or make a partial redemption.
How to redeem Mutual funds in Zerodha Coin
How to cancel/pause a SIP on the Coin?
To cancel or pause your SIP on Zerodha Coin,
- select the ‘Investments’ tab from the home page.
- Then, select ‘SIPs’ and click on the fund that you intend to modify/cancel.
To pause your SIP, click on theround blue iconand select the‘Pause’option. To resume a‘paused’SIP, click on the‘Resume’option.
To cancel your SIP, click on the‘Delete’option.
Zerodha Coin Pause or Stop a SIP
How to modify a SIP on the Coin?
To modify your SIP on Zerodha Coin,
- select the ‘Investments’ tab from the home page.
- Then, select ‘SIPs’ and click on the fund that you intend to modify/cancel.
- Now, click on the ‘Modify’ option at the bottom. Here you can change the instalment frequency, amount and number of instalments as shown below:
How to Modify SIP in Zerodha Coin
How do I place a conditional order on Zerodha Coin?
Conditional orders are NAV tracking orders. Similar to stocks, you can place orders to purchase funds based on NAV i.e you can purchase at particular NAV that you decide.
The conditional order feature can only be used for lump sum investments and not for SIPs.
Note: A conditional order can’t be edited once placed. You will have to delete that order and place a new conditional order.
How to Transfer Existing Mutual Funds Units to Coin
If you have purchased regular mutual funds through a distributor you can transfer them to Coin.Below are the different scenarios
- Purchased regular plan funds in demat mode,ask your other broker to give you a DIS slip. Mention the units you want to transfer to your Zerodha demat account number and submit it back to the broker. Within 24 hours, the units get transferred.
- Purchased regular plan funds in non-demat mode: little tricky in this case. You will have to come to us and ask us to dematerialize your mutual fund investments.
Video on How to Buy Mutual Fund in Zerodha Coin
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Do you do direct Investing In Mutual Funds? Which platform do you use? Have you used Zerodha Coin? What is your experience?
