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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 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.

If netbanking or UPI option is not available to the user, the order will be placed on BSE, but the payment will have to be completed using NEFT or RTGS. The account details of ICCL to which the amount is to be transferred will be displayed in the order window.

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.