How do I transfer Mutual Funds out of Coin?
There are three ways to transfer mutual fund holdings out of Coin:
1. Transfer to another CDSL Demat account: If you're transferring the units to a CDSL Demat account from Coin, this is a simple procedure. You can use CDSL Easiest to get the transfer out done to another CDSL Demat account. You can read the details here .
2. Transfer to an NSDL Demat account: If you're transferring the units to an NSDL Demat account, you will have to use the Off-market procedure . For off-market transfer of mutual fund units, you will need to use a DIS (Delivery Instruction Slip). DIS is similar to a bank cheque leaf which is used to move money from one bank account to another. With the DIS, you can move shares from one DEMAT to another.
3. Transfer to a Non-Demat mode (Physical mode/RTA Mode/Offline Mode): Many brokers and distributors offer investments in Mutual Funds in non-demat mode. You can check with your broker/distributor (to where the units are being transferred). You will have to follow the process of re-materialization for this (Re-materialization is the process of converting units from DEMAT mode to Physical/Folio mode).
Note: If you are transferring Mutual Funds which are in the lock-in period (ELSS Funds), there are two routes:
1. Re-materialization : You will have to re-materialize the Mutual Funds if you're transferring them to any broker under non-demat mode and/or to an NSDL account as the inter-depository transfer of the units under a lock-in period is not allowed. There is no other route to transfer the units under the lock-in period to NSDL or non-demat accounts.
2. Closure cum Transfer (For CDSL accounts): If you're transferring the units under lock-in to another CDSL Demat account, will have to move forward with the Closure cum Transfer procedure. The transfer of units under lock-in can only be done to an account under same PAN.
If you're closing your Zerodha account because your employer doesn't allow you to trade/invest with us, click here .
Note on Charges:
1. The charges for rematerialization is Rs. 150 + GST 18%. For ELSS funds the rematerialization charges will be Rs 150 per date of investment. Click here for the tariff sheet.
2. You will be charged Rs 100 + GST for the DIS booklet along with courier charges of Rs 100 + GST (the first 10 leaves are free) and 0.03% of turnover or Rs 25, plus 18% GST, higher of the two per ISIN for the transfer of shares.
3. The charges to transfer shares in an off-market transaction are 0.03% of the transfer value or Rs. 25, whichever is higher. You (transferor of the shares) will also have to pay stamp duty at 0.015% on the consideration amount to CDSL on their platform. Learn more .