What is the cut-off time for mutual fund transactions on Coin?
The cut-off time for mutual fund purchases is 12 pm for liquid & overnight schemes and 1:30 pm for other schemes. The cut-off time for redemptions of all scheme types is 1:30 pm. Learn more below -
- Liquid Schemes & Overnight Schemes (Purchase) - The cut-off time to place an order for liquid & overnight funds is 12 pm. The NAV rate of the T-1 day (historical NAV) will be applicable for orders placed within the cut-off time if sufficient balance is maintained in your Zerodha account. The units for such orders will be settled on T day by 7 PM and will reflect in your holdings on Coin. Orders placed after the cut-off time are processed the next working day.
For example, you place an order for a Liquid/Overnight fund on a Friday at 11 am, the same will be processed at 12 pm on Friday the units will be allotted to you on Friday end of the day as per the NAV of Thursday. Any order placed after 12 pm will be processed on Monday and the NAV applicable for allotment will be as of Sunday.
- Other schemes (Purchase) - The cut-off time to place an order for all other schemes is 1:30 pm. The NAV of T day (released at the end of the day by the AMC) will be applicable for orders placed within the cut-off time. The units will be settled on T+1 day and the same will reflect in your Portfolio on Coin as well as the Demat account.
For Example, you place an order for a non-liquid fund on a Friday before 1:30 PM and maintain sufficient funds in your trading account, the order will be processed on Friday and the units will be allotted to you on Monday (T+1 day) as Saturday and Sunday is a non-business day. The NAV applicable will be the NAV released from the AMC on Friday end of the day.
- Redemption all schemes - The cut-off time for all the redemption orders is 1:30 pm. The NAV of T day (released at the end of the day by the AMC) will be applicable for orders placed within the cut-off time. You can check if any exit load is applicable for your mutual fund redemption on the Scheme page on Coin.
1. The cut-off time for mutual fund orders at Zerodha is about an hour earlier since orders have to be collected and validated before being submitted on the exchange's platform.
2. If you sell any securities on Kite, the amount will be available to purchase a mutual fund scheme only from the next working day.
3. For purchase transactions the units will reflect on Console on T+1 day after the settlement of units.
4. The settlement of all mutual fund purchase & redemption orders is done through your Zerodha trading account.