How to create a SIP on Coin web?
To create a SIP on Coin web, follow these steps:
- From the dashboard, click on Mutual funds.
- Click on Explore.
- Select the fund and click on SIP.
- Select a Mandate¹ or by default None (Pay using payment gateway) ² is displayed.
- Enter the Initial investment amount and Instalment amount.
- Select the frequency (Weekly ³, 15-days, Monthly or Quarterly).
- Click on Create SIP.
- Click on Confirm and complete the payment.
Notes
¹ To learn how to create a mandate, see What is a Mandate and how to create them for SIPs on Coin web?
² If there are no mandates, complete the payment via the Pending payments page. To learn more, see How to complete SIP payments on Coin web?
³ If Weekly is selected, clients can also choose specific days. This is available on the Coin web and will be available on the Coin app soon.
Did you know?
- 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.
- If the initial investment is not completed, the order will be deleted after T+4 days. However, the SIP will be active, but no orders will be triggered.
- See What is the applicable NAV when placing a mutual fund order on Coin? to know the applicable NAV on the orders.
- See What is the cut-off time for mutual fund transactions on Coin? to know the cut off time for mutual fund transactions.
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