How to invest in mutual funds in Zerodha
Investing in mutual funds through Zerodha is a straightforward process that can be done through their platform, Zerodha Coin. Here’s a step-by-step guide on how to invest in mutual funds through Zerodha Coin:
Step 1: Open a Zerodha account
If you don’t already have a Zerodha trading account, you’ll need to create one. This can be done by visiting the Zerodha website and clicking on the “Open an account” button. You’ll need to provide your personal information, such as your name, address, and contact details. You’ll also need to verify your identity by uploading a copy of your PAN card and Aadhaar card.
Step 2: Link your bank account
Once your Zerodha account is open, you’ll need to link your bank account to your Zerodha Coin account. This is so that you can transfer funds from your bank account to Zerodha Coin and vice versa. To link your bank account, go to the “Bank” tab in your Zerodha Coin account and click on the “Add Bank” button. Select your bank from the list and enter your bank account details.
Step 3: Choose a mutual fund
Once your bank account is linked, you can start investing in mutual funds. Zerodha Coin offers a wide range of mutual funds from different AMCs (Asset Management Companies). You can browse the list of mutual funds on the Zerodha Coin website or use the search bar to find specific funds.
Step 4: Place an order
Once you’ve chosen a mutual fund, you can place an order to buy it. To place an order, go to the “Mutual Funds” tab in your Zerodha Coin account and click on the “Buy” button. Enter the amount you want to invest and select the investment option (lump sum or SIP). You can also set up a trigger to buy the mutual fund automatically when the NAV (Net Asset Value) reaches a certain level.
Step 5: Monitor your investments
Once you’ve invested in a mutual fund, you can monitor your investments on the Zerodha Coin website or app. You can see the current NAV of the fund, your holdings, and your overall performance.
Here are some additional tips for investing in mutual funds through Zerodha Coin:
- Do your research before investing in any mutual fund. Read the fund’s prospectus and understand its investment objective, risk profile, and historical performance.
- Consider your investment goals and risk tolerance when choosing mutual funds.
- Start with a small investment and gradually increase your investment over time.
- Always review your mutual fund investments regularly and make adjustments as needed.
Zerodha coin charges
Zerodha Coin is a free platform for investing in mutual funds. There are no charges for buying, selling, or holding mutual funds through Zerodha Coin. However, there are a few other charges that you may need to be aware of:
- Depository Participant (DP) charges: There is a DP charge of ₹15 per order for equity and ₹20 per order for futures and options. However, Zerodha Coin waives these charges for equity orders above ₹50.
- Transaction Tax: There is a transaction tax of 0.1% on the purchase of equity mutual funds. However, there is no transaction tax on the purchase of direct mutual funds.
- Exit Load: Some mutual funds charge an exit load if you sell your units within a certain period of time. The exit load can range from 1% to 5% of the NAV.
Here is a table summarizing the charges for investing in mutual funds through Zerodha Coin:
| Charge | Description | Amount |
|---|---|---|
| Buying mutual funds | Free | ₹0 |
| Selling mutual funds | Free | ₹0 |
| Holding mutual funds | Free | ₹0 |
| DP charges | ₹15 per order for equity, ₹20 per order for futures and options | Waived for equity orders above ₹50 |
| Transaction Tax | 0.1% on equity mutual funds | No tax on direct mutual funds |
| Exit Load | Varies depending on the mutual fund | 1% to 5% of NAV |
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Zerodha Coin customer care details
Zerodha coin sip auto debit
Yes, Zerodha Coin allows you to set up auto-debit for your SIP (Systematic Investment Plan) payments. This means that the amount for your SIP will be automatically deducted from your bank account on the due date. This is a convenient way to ensure that your SIP payments are made on time and that you don’t miss out on any investing opportunities.
To set up auto-debit for your SIP, you will need to create a mandate. A mandate is a standing instruction that authorizes Zerodha Coin to debit your bank account for the SIP amount. You can create a mandate either through the Zerodha Coin website or app.
Here are the steps on how to create a mandate for your SIP through the Zerodha Coin website:
- Go to the Zerodha Coin website and log in to your account.
- Click on the “SIPs” tab.
- Click on the “Create Mandate” button.
- Select the SIP for which you want to create a mandate.
- Enter the amount of your SIP payment.
- Select the frequency of your SIP payment.
- Select your bank from the list.
- Enter your bank account details.
- Click on the “Create Mandate” button.
Once you have created a mandate, it will be processed within 3 working days. Once the mandate is active, your SIP payments will be automatically deducted from your bank account on the due date.
Here are some of the benefits of setting up auto-debit for your SIP:
- Convenience: Auto-debit makes it easy to make your SIP payments on time. You don’t have to worry about manually transferring the money each month.
- Discipline: Auto-debit helps you stay disciplined with your investments. You’re more likely to stick with your SIP if the payments are made automatically.
- Growth: Auto-debit allows your investments to grow over time. By investing regularly, you can take advantage of compounding and maximize your returns.
Is zerodha coin safe?
Yes, Zerodha Coin is a safe platform for investing in mutual funds. It is a registered member of the Association of Mutual Funds India (AMFI) and is compliant with all regulatory requirements. Zerodha Coin also uses a number of security measures to protect your funds and personal information, including:
- Two-factor authentication: This requires you to enter a code that is sent to your mobile phone in addition to your password when you log in to your account.
- Data encryption: All of your data is encrypted when it is transmitted over the internet.
- Firewalls: Zerodha Coin’s systems are protected by firewalls to prevent unauthorized access.
- Regular security audits: Zerodha Coin conducts regular security audits to identify and address any potential vulnerabilities.
In addition to these technical safeguards, Zerodha Coin also has a team of security experts who monitor its systems for suspicious activity. If you have any concerns about the safety of your funds, you can contact Zerodha Coin’s customer support team.
Here are some additional factors that contribute to the safety of Zerodha Coin:
- Zerodha is a well-established and reputable company: Zerodha is one of the largest stockbrokers in India and has a strong reputation for being a reliable and trustworthy company.
- Zerodha is regulated by SEBI: Zerodha is regulated by the Securities and Exchange Board of India (SEBI), which is the primary regulator of the securities market in India.
- Zerodha’s investors include some of the most prominent venture capital firms in India: Zerodha’s investors include prominent venture capital firms such as Tiger Global Management, Sequoia Capital, and Nexus Venture Partners.
Overall, Zerodha Coin is a safe and secure platform for investing in mutual funds. You can be confident that your funds and personal information are protected when you invest with Zerodha Coin.
How to sell mutual funds in Zerodha coin
Selling mutual funds in Zerodha Coin is a straightforward process that can be completed through their platform. Here’s a step-by-step guide on how to sell mutual funds in Zerodha Coin:
Step 1: Log in to Zerodha Coin
Access the Zerodha Coin website and log in to your account using your credentials.
Step 2: Navigate to the “Mutual Funds” tab
Once you’re logged in, locate the “Mutual Funds” tab within the Zerodha Coin interface. Click on this tab to proceed.
Step 3: Select the mutual fund you want to sell
A list of your mutual fund holdings will be displayed. Identify the specific mutual fund you want to sell and click on it to proceed.
Step 4: Click on the “Redeem” button
After selecting the mutual fund, you’ll notice a “Redeem” button. Now click on the button to initiate the selling process.
Step 5: Choose the redemption option
You’ll be presented with two options:
-
Redeem all units: This option will sell all the units you hold in that mutual fund.
-
Specify units to redeem: If you want to sell only a portion of your units, enter the specific number of units you want to redeem.
Step 6: Confirm the redemption
Once you’ve selected the redemption option, review the details carefully. Now click on the “Confirm” button to proceed with the sale.
Step 7: Authorization process (for non-DDPI/POA clients)
If you’re not a DDPI (Dematerialized Demat Pin Initiative) or POA (Permanent Account Number) client, you’ll need to authorize the redemption through CDSL (Central Depository Services Limited). This involves entering your CDSL PIN and receiving an OTP (One-Time Password) on your registered mobile number and email. Enter the OTP to complete the authorization process.
Step 8: Final confirmation
Once the authorization is complete, you’ll be presented with a final confirmation screen. Review the details and click on the “Confirm” button to finalize the sale.
Step 9: Monitor the redemption process
The redemption process typically takes 2-3 working days to complete. You can track the status of your redemption order through the “Orders” section in your Zerodha Coin account.
Please note that there may be exit charges associated with selling mutual funds within a certain period of time, depending on the fund’s specific rules. Check the fund’s prospectus or contact Zerodha Coin’s customer support for more information.
Which is better Zerodha Coin or Groww?
Both Zerodha Coin and Groww are popular online platforms for investing in mutual funds in India. They both offer a wide range of mutual funds from different AMCs, competitive brokerage fees, and user-friendly platforms. However, there are some main differences between the two platforms that may influence your decision.
Zerodha Coin
-
Advantages:
- Free to invest in mutual funds
- Wide range of mutual funds from different AMCs
- Advanced charting tools for technical analysis
- Integrated with Zerodha’s trading platform for seamless equity and mutual fund investing
-
Disadvantages:
- No direct mutual funds (NFOs)
- Limited research and educational resources
Groww
-
Advantages:
- Available in Hindi and English
- Simple and user-friendly interface
- Offers direct mutual funds (NFOs)
- Comprehensive research and educational resources
-
Disadvantages:
- Charges a flat fee of ₹20 per mutual fund order
- Limited charting tools for technical analysis
- Not integrated with an equity trading platform
In general, Zerodha Coin is a better choice for experienced investors who are looking for a free platform with advanced charting tools and seamless integration with Zerodha’s equity trading platform. Groww is a better choice for beginner investors who are looking for a simple and user-friendly platform with comprehensive research and educational resources.
Here is a table summarizing the key differences between Zerodha Coin and Groww:
| Feature | Zerodha Coin | Groww |
|---|---|---|
| Brokerage fees | Free | ₹20 per order |
| Mutual fund offerings | A wide range of different AMCs | A wide range of different AMCs |
| Direct mutual funds (NFOs) | No | Yes |
| Research and educational resources | Limited | Comprehensive |
| User interface | Advanced | Simple |
| Integrations | Integrated with Zerodha’s equity trading platform | Not integrated with any other platforms |
Ultimately, the best platform for you will depend on your individual needs and preferences. It is a good idea to try out both platforms and see which one you like better.
List of mutual fund companies available on Zerodha Coin:
Mutual Fund Company | Website
Aditya Birla Sun Life Mutual Fund | https://mutualfund.adityabirlacapital.com/fund-listing
Axis Mutual Fund | https://www.axismf.com/
BNP Paribas Mutual Fund | https://www.barodabnpparibasmf.in/
Canara Robeco Investment Managers | https://www.canararobeco.com/
DSP Mutual Fund | https://www.dspim.com/faqs
Edelweiss Mutual Fund | https://www.edelweissmf.com/
Franklin Templeton Mutual Fund | https://www.franklintempletonindia.com/
HDFC Mutual Fund | https://www.hdfcfund.com/
ICICI Prudential Mutual Fund | https://www.iciciprulife.com/fund-performance/all-products-fund-performance-details.html
IDFC Mutual Fund | https://www.idfcfirstbank.com/personal-banking/investment/mutual-fund
IL&FS Mutual Fund | https://www.ilfsinfrafund.com/our-funds.php
Invesco India Mutual Fund | https://www.invescomutualfund.com/
JM Financial Mutual Fund | https://www.jmfinancialmf.com/
Kotak Mutual Fund | https://www.kotakmf.com/
L&T Mutual Fund | https://www.ltfs.com/int-investment-management
LIC Mutual Fund | https://www.licmf.com/
Mirae Asset Mutual Fund | https://www.miraeassetmf.co.in/
Motilal Oswal Mutual Fund | https://www.motilaloswalmf.com/
Nippon India Mutual Fund | https://mf.nipponindiaim.com/
Reliance Mutual Fund | https://www.reliancesmartmoney.com/mutual-funds/recommended-funds
SBI Mutual Fund | https://www.sbimf.com/
Sundaram Mutual Fund | https://www.sundarammutual.com/
Tata Mutual Fund | https://online.tatamutualfund.com/
Union Mutual Fund | https://www.unionmf.com/
Value Research Mutual Fund | https://www.valueresearchonline.com/funds/selector/primary-category/1/equity/