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What is the applicable NAV when placing a mutual fund order on Coin?

When mutual funds are purchased on Coin, the funds are transferred to the payment aggregator, who then transfer the funds to the Indian clearing corporation (ICCL). NAV will be allotted based on the date and time the Indian Clearing Corporation (ICCL) receives the funds. The timings are as follows:

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.

List of supported banks for direct and non-direct settlement (DOC). 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 will be displayed to which the amount is to be transferred.

Cut-off time for redeeming mutual funds.

The cut-off time for redemption orders is 3:00 PM. The NAV of T day will be applicable for orders placed within the cut-off time. Exit load applicable for redemption can be checked on the Scheme page on Coin. See What does Exit load mean? to know more.

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 trading 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.