AMC SIP Procedure?

Zerodha Coin - Direct MF
1

Hi,

I want to invest in a MF via Coin. That particular MF only has an option of AMC SIP. So could somebody please tell, are there any additional steps that I need to fulfill before investing in it. Like in normal SIPs you can start investing at the click of a button.

  1. In AMC SIP do I need to fill any forms or etc. What are the additional steps?

  2. In case of AMC SIP, where do the SIPs get deducted from Zerodha DEMAT account or bank account?

  3. If in future I’d like to change the SIP amount. What will I have to do in order to have it changed?

I would like to obtain as much information as I can before I start investing. If there is something I did not ask which I should know before investing in the AMC SIP. Please, do share.

Thanks

2

Hi,
There are many fund houses and/or funds which coin is not able to sell directly.
For SIP in those fund you have to AMC website.

In AMC SIP do I need to fill any forms or etc. What are the additional steps?

Yes you have to register on AMC website or if that AMC’s RTA is Cams you can register on mycamsonline and start a SIP from there.

In case of AMC SIP, where do the SIPs get deducted from Zerodha DEMAT account or bank account?

When you register a SIP on AMC website directly, a URN number is generate which you have to update in your bank account for auto payment of your SIP.

If in future I’d like to change the SIP amount. What will I have to do in order to have it changed?

Probably you have to start your current SIP and start a new SIP from AMC website.

Since you have not mentioned which AMC you were trying could not tell clearly if its there in camsonline or not.

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3

Hey thanks for the info. 🖒

Sbi small cap. Equity. Growth.

4

Hey Akarsh, you can invest in SBI Small Cap fund using the Coin App and no additional documents are required for the same.

Also, the amount for your AMC SIP created on the Coin App will be debited from your trading account and not your bank account.

Well, you cannot modify the AMC SIP once created but you can delete the SIP 10 days prior to your due date.

For more information about the AMC SIP, you can refer to the below link.
https://support.zerodha.com/category/mutual-funds/coin-app/articles/amc-sip

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5

Hey, thanks for you answer. I was thinking about investing via coin.

Also, it’s a shame that we cannot modify the amount. :frowning:

6

Hey Akarsh, you cannot modify the amount for the AMC SIP once created as the AMC restricts from any kind of modification once created and the same is followed by BSE STARMF (which is our backend routing system). You can only delete the SIP 2 days prior to your next installment date.

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7

No forms.

From your trading account, same as usual.

You will have to stop the SIP and create a new one. This is, unfortunately, is a restriction by the AMCs.

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8

@Bhuvan. Thanks. Also. Can you tell, do AMCs inform investors before they cut off lumpsum investments for good or do they first cut off lumpsum and then inform investors?

Just Curious.

9

They do. There is an announcement and an accompanying press release. You should get an email as well.

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10

@Bhuvan Doesn’t it make sense to give an option to convert those SIPs into AMC SIPs as well. Asking as some good performing funds have cut off lumpsum in the past and as Coin’s normal SIP is lumpsump even those will stop

11

I have a AMC SIP in a fund which is ongoing. If I have to modify the amount, that’s not possible in coin. If I delete my exisiting AMC SIP in that fund 10 days prior to SIP date and if I recreate with new amount, what will happen to my existing SIP of the same fund? Will the new SIP with modified amount still go to the same fund or it will be redeemed once I delete and new SIP with modified amount will start ? Please clarify.

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