Is there any charge/ fees if I do not have sufficient fund on the SIP installment date?
Like a default payment fee.
as i was informed by an executive,
no charge till one month, after that late fee as per documents signed
If you are asking this in terms or coin, there is no charge i think. Since it’s not truly SIP. what I mean by this is, zerodha executes your order like an SIP order. In a normal SIP, you usually register with amc directly for a number of installments with an ecs mandate or with the addition of a biller in case of an ISIP. Banks do charge a fine when a ecs mandate is not honored. But it varies though. In case of zerodha coin, you may cancel anytime. Since it’s linked to ur trading account, lack of funds would probably still go through and result in negative balance.
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@vijaiaeroastro is correct. No charges involved for missing a coin SIP. If there is a shortfall of funds for your SIP, then the MF order will remain open in your Coin orderbook for 5 days. You can either transfer the funds in during this period and execute your SIP or your SIP open order will be cancelled after 5 working days.
I have negative balance in my coin app because I placed orders with insufficient funds. What will happen now? Will I be charged a fine?
Can you please DM me your client ID?