Beware before you invest in COIN, if you have long term plan to invest than only invest else you will be charged life long


#1

Hi, Guys,

Just want to share my experience with Zerodha COIN, i invested >25K in MFs in Zerodha using COIN after few months i redeemd thinking i will close COIN subscrption, my bad i purchased some of the ELSS funds worth 10K, now i cannot close susbcription until 3 years as policy says if you cross>25K investment cummlative irrespective of year or month until you hold MFs eventhough ELSS or tax savings you have to pay money for subscrption , even if you dont want to continue with subsciption, Now i am stucked and they are saying i have to pay forcibly money for subscrption for next 3 years as i have ELSS funds in my account, Even though i use that COIN or not i will be paying so beware read all subscription policy terms and conditions throghly or else you ll be stucked like me.

Any Guys has idea about ELSS funds in any circumstances can we close that ?

Regards,
Vikram


#2

You can transfer the ELSS which is in demat to another demat of yours and stop subscription.


#3

What if person has only 1 demat, one more thing can we transfer that elss fund out of demat mode to normal mode ?


#4

You can rematerialize the units and hold the units with you in non-demat form. You can then redeem the units directly with the respective AMCs separately after the lock-in period is over.


#5

Is it possible to move our ELSS funds before lock in period from demat to normal mode ?