How to complete payments for the purchase orders on Coin?
Funds in the Zerodha account cannot be used for mutual fund investments. Funds for mutual fund purchases have to be transferred from the primary bank account linked with Zerodha to Indian Clearing Corporation Ltd (ICCL), which is a subsidiary of BSE.
The new payment flow on the Coin app is as follows:
- Payment can be made through UPI for orders up to ₹1,99,999.
-
Payment can be made through netbanking for orders equal to or more than ₹2 lakh.
Cut off timings
The cut-off timings vary depending on the bank the funds are being transferred from. List of supported banks for direct and non-direct settlement
(DOC).
Liquid schemes
Payment mode | Order type | Cut-off time | Applicable NAV |
UPI | Lumpsum and SIP | 12:30 PM | T -1 day |
Netbanking (direct settlement banks) | Lumpsum and SIP | 12:30 PM | T -1 day |
Netbanking (non-direct settlement banks) | Lumpsum and SIP | 12 AM to 11:59 PM | T day |
NEFT and RTGS | Only for lumpsum | 12:30 PM | The NAV may vary from T-1 day to T+5 day, depending on the day the funds are credited to ICCL’s bank account. |
Other schemes like Equity, Debt, Hybrid, etc.
Payment mode | Order type | Cut-off time | Applicable NAV |
UPI | Lumpsum and SIP | 2 PM | T day |
Netbanking (direct settlement banks) | Lumpsum and SIP | 2 PM | T day |
Netbanking (non-direct settlement banks) | Lumpsum and SIP | 12 AM to 11:59 PM | T+1 day |
NEFT and RTGS | Only for lumpsum | 2 PM | The NAV may vary from T day to T+5 day, depending on the day the funds are credited to ICCL’s bank account. |
To know how to complete SIP payments on Coin app, see How to complete SIP payments on Coin app? and Coin web, see How to complete SIP payments on Coin web?
Did you know?
The NAV applicable would also depend on when the payment aggregator has reported the transactions to the exchange. For example, if the payment was made on Monday before the cut-off time, but the payment aggregator reported the transaction before cut-off time on Tuesday, then the applicable NAV will be that of Tuesday.
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