I am new to the trading scenario in Zerodha. I just wanted to know very clearly, the charges which i would be bearing if I purchase Mutual funds. I am aware that for the first Rs 25000 invested, I am not to pay any brokerage charges
Q1- Is this independent of time, which means I can invest 25000 over 6 months too, and does that Rs 50/month after that exclude GST or GST isn’t applicable on that?
Q2- Is the Payment gateway charges levied everytime I put money into Zerodha (coin) account, and is it fixed at 9%+GST for ny sort of bank account? If Yes, then it is important to address this to the users since this is not being communicated clearly, and one loses that amount and that is a good amount of money. Do clarify this to me in case I am mistaken. I could not find this mentioned anywhere
Q3- What are the charges that I am levied in case I have an existing Demat account and want to use that for the MF trading on Zerodha and not a one opened via Zerodha?
Please address these queries so that it becomes easier for me to judge this medium for my investments.
Yes it’s independent of time, there is no time limit within which you have to invest the 25k. You can invest it over 6 months if that is your investment plan. And the coin subscrciption fees is Rs.50+GST/every 30 days, whenever your investment amount exceeds 25k.
Payment gateway charges are fixed at Rs.9+GST every time you use the Atom gateway within Kite to transfer money to your trading account. Because this is a 3rd party payment gateway and these transfer charges are decided by them. You can skip these charges and do an IMPS/NEFT directly from your netbanking but charges may apply at your bank. Learn how you can create standing instructions from your bank account for your Coin SIPs.
Your Coin account is activated only when you have a Zerodha Demat account.
Demat account AMC(Account Maintenance Charge) is Rs.300/year, charged on a pro-rata basis on 31 Mar every year. There are no other additional charges for the Demat account.
Go to your Q Backoffice > Profile and check under Depository details.
I paid 200 at the time of opening the account in Zerodha, which means that the total amount that needs to be paid upfront. to start transacting is 200+300 (demat charges) = 500 / year. Is that right?
What I know is that is that I have paid Rs 200 when I created an account. I have not yet done/paid anything else. Can you help me understand it in a little easier manner.?
So yeah, this is the account opening charge for your trading + Demat account. Could you login to your Q Backoffice using Kite login details and check under Profile > Depository details if your Demat details are available.