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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 or secondary bank accounts 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 up to or more than ₹2 lakh.

The payments from the secondary bank account can be made only through NEFT or RTGS. Payments from the primary bank account can be made through UPI, NEFT or RTGS.

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 exchange and the payment aggregator decide the cut-off time for mutual fund orders.
  • Funds for mutual fund purchases can be added through the primary or secondary bank accounts linked with Zerodha. However, the amount from mutual fund redemptions is credited only to the primary bank account.
  • If the payment aggregator reports the funds after the above-mentioned cut-off time, the applicable NAV will be that of the next day.
  • To ensure that a Systematic Investment Plan (SIP) starts within the current month, it must be set up at least 2 days prior to the preferred execution date. For example, if the client wants the SIP to execute on the 5th of each month, they need to set it up on or before the 2nd of the current month. If the SIP is set up on the 3rd with an execution date of the 5th, it will start from the next month.
  • On the pending payment page, a user can switch the payment method for a UPI or Net Banking order to NEFT. However, the reverse is not possible. Once the payment method is changed to NEFT, the order is submitted to BSE Star MF, and the user must transfer the funds to ICCL's bank account. As a result, the client will need to place a new order and complete the payment using UPI or Net banking.