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.
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Payment can be made through netbanking for orders up to or more than ₹2 lakh.
The payment can be completed through NEFT or RTGS if the net banking or UPI option is not available. This option will be available shortly.
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 only through the primary bank account linked with Zerodha. The amount from mutual fund redemptions is credited only to the primary bank account. Adding funds through secondary bank account will be available soon.
- 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 3rd of the current month. If the SIP is set up on the 4th with an execution date of the 5th, it will start from the next month.
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