How do I move, transfer my existing mutual fund investments to coin?
If you have purchased the units in Demat mode the transfer process is straightforward. If you have CDSL Demat account, then you can transfer your units online via CDSL easiest. You can read the process here.
If you need to transfer your units from an NSDL account, you will need to use the DIS slips. In the DIS, mention the units you wish to transfer, mention your Zerodha Demat account number and submit it back to the broker. Within 24 hours, the units get transferred. You can find your Zerodha DP ID Beneficiary ID in Console under Profile.
1. The mutual fund units which have been transferred to your Demat account in Zerodha will reflect as a discrepant quantity in your holdings in Console. You are required to add the buy average for these units so that the P&L is adjusted accordingly. Once this procedure has been completed, kindly confirm by raising a ticket below.
2. ELSS funds that are under a lock-in period cannot be transferred via CDSL Easiest. The only way to move the locked in ELSS units from one Demat account to another Demat account is by "Closure cum Transfer" of the Demat account. The units in lock-in can be moved to another Demat account which is under the same PAN holder's name. If the ELSS scheme is out of a lock-in period, it can be transferred without any restrictions.
The transferred mutual fund units will be available for you to sell once the particulars are manually updated in Coin. The update generally requires 24-48 working hours.
If your Mutual fund investments are not in Demat form then you will have to de-materialize it to move it to Coin. Click here to know how.
If you have invested in regular mutual funds - Demat or physical form, the best option is to exit those funds and repurchase it again on Coin, instead of dematerializing your regular mutual fund investments.
3. Once the units show up in your Demat account (you will receive a notification via SMS/Email from CDSL), we recommend you to raise a ticket below and enter the details in the format mentioned below :
Name of scheme and units :
Folio no. :
Average Purchase NAV/ Total Investment Amount:
4. Transferring a Regular Mutual Fund to Coin doesn't automatically convert to a Direct Mutual Fund. The fund will remain a regular scheme and you will be able to redeem the scheme whenever you wish to. You will not be able to invest further in a Regular plan via Coin. You can invest in a Direct plan of the same fund.
5. To transfer Mutual Funds from an NSDL DEMAT account to Zerodha DEMAT account, you need to fill up the ‘Delivery Instruction slip’ (DIS) the other broker/distributor provides & submit it to them along with a CMR copy provided by Zerodha. Here's an example of a DIS slip provided by Zerodha.
If the other broker asks for a CMR, refer here to know how to obtain your CMR.
Once the DIS slip along with the CMR is submitted it takes 2-4 days for the transfer to be completed.