Zerodha Coin was introduced by the officials of Zerodha which is an online platform that enables users to buy Mutual funds directly. As it is known that any individual will be able to buy the mutual funds in any of the two ways either via a distributor or directly from AMC (asset management company). When you buy mutual funds with the help of a distributor, then you will have to pay some commission to the distributor. But when you are buying mutual funds through the AMC website, you don’t have to pay any commission but however, you will have to direct to multiple AMC websites to manage your account. To help you overcome this, the officials of Zerodha have introduced the Zerodha coin.
What is Zerodha Coin?
Zerodha Coin is an online platform that is managed by the officials of Zerodha. Zerodha coin helps you to buy direct mutual funds without any commission from AMC companies. Zerodha coin can be either accessed through the web or mobile application. And any investor enrolled for Zerodha coin will be able to invest across 3k+ mutual funds platforms.
Zerodha Coin Charges
Initially, any user making use of the Zerodha platform had to pay Rs.600 which is now cancelled. So that now, any user can access the Zerodha Coin for free of cost.
|Description||Zerodha Coin Charges|
|Zerodha Coin Account Opening Fees||Free|
|Zerodha Coin AMC Fees||Free|
|Zerodha Coin Brokerage||Free|
|Zerodha Coin Commission||Free|
|Zerodha Coin DP Charges||Free|
|Other Charges||No hidden charges, thus it’s free.|
Zerodha Coin Benefits & Features
The features and benefits of the Zerodha coin are discussed below:
- The platform can be accessed by anyone for free cost.
- There are no commissions charged on direct mutual fund investments made using this platform.
- You can invest in up to 3000+ mutual funds from one platform.
- Direct Mutual Funds will be DEMAT from a single portfolio that includes stock, mutual fund, and fund investments.
- With the help of a single dashboard, you can manage all of your mutual funds in one window.
- Profit and loss statement and capital gain statement are combined into a single document.
- Easy SIP is a type of SIP service. You can start, stop, and change SIP at any moment with Easy SIP.
- Similar to the stock market, you can follow orders and see NAV online. You can buy and redeem funds based on NAV by placing an order.
- Using the mobile app, you may create, pause, and modify your SIP at any time.
- This platform also offers a portfolio tracking view where you can manage your portfolio.
How To Open Zerodha Coin Account?
If you already have a Zerodha account, then you don’t have to create a separate account in order to open a Zerodha Coin account. You can just log in to the Zerodha coin account with the help of Zerodha credentials.
How To Buy Mutual Funds In Zerodha Coin?
In order to buy Zerodha Coin, one will have to create an account in Zerodha. Once the account is created, follow the steps listed below to buy the Zerodha Coin online.
- Step 1: Visit the official web page of Zerodha Coin or Click Here.
- Step 2: On the homepage, click on the “Login” button.
- Step 3: Log in with the help of your Zerodha credentials.
- Step 4: Now in the “Search” tab, just type the fund name which you are looking for.
- Step 5: As soon as the fund appears, click on the “Buy Direct” option.
- Step 6: Now you will be redirected to a new window.
- Step 7: Here enter the amount you would like to invest.
- Step 8: Click on the “Buy” button.
- Step 9: Additionally if you want to create a SIP, click on the “Direct SIP” button.
- Step 10: Enter the “SIP” details and your work is done.
How To Transfer Mutual Funds To Zerodha Coin Account?
Any individual will be able to transfer their regular mutual funds to Zerodha coin easily, even if you have invested your funds in DEMAT or Non-DEMAT form. The steps to transfer the mutual funds to the Zerodha Coin by DEMAT or Non-DEMAT form are given below:
Mutual Funds Transfer: Regular Fund in DEMAT Form
Transferring regular funds from the DEMAT account to Zerodha coin is very simple. All you have to do is just fill out the Delivery Instruction Slip (DIS) which will be available in your stockbroker. While filling the DIS form, you will have to enter the details such as Zerodha DP ID, Mutual Fund units, and other fund details. Once you submit the DIS form, the funds will be transferred within 24 hours.
Mutual Funds Transfer: Regular Fund in Non-DEMAT Form
If your mutual funds are not in DEMAT form, then the process is a bit difficult. One will have to fill out the de-materialization form. The DRF (Dematerialization Form) can be downloaded from the Zerodha website. Two copies of this form must be filled out and submitted, together with a self-attested PAN copy and a self-attested mutual fund copy. When you submit this form to Zerodha’s headquarters, the De-materialization process begins. For the conversion of this account, you must pay a minimal fee of Rs.150 plus courier charges.
Zerodha Coin Review: Is Zerodha Coin Good?
As of now, we have only 2 methods to buy Zerodha Coin i.e., either through distributor or AMC. Buying through a distributor will cost some commission and buying through AMC portals is time-consuming, since we need to create a different portfolio.
Thus choosing Zerodha Coin is really helpful, since it helps to manage all the portfolios in one place. And making investments in mutual funds is very simple using the Zerodha coin. Also one doesn’t need to pay any money to buy mutual funds using Zerodha Coin. However, there are some drawbacks which one should note if he/she uses Zerodha coin and they are:
However, you should accept the foregoing flaws and make use of this platform. This platform provides a great deal of flexibility and saves time when it comes to paperwork.
If you are already using Zerodha Coin, share your experience and review about Zerodha Coin in the comment box below.