You can use a feature called a standing instruction wherein you can schedule a transfer from your bank account to your Zerodha trading account on a fixed date. This feature is available in all major banks and is pretty easy to setup. You can schedule transfers NEFT or RTGS on a fixed date every month. You can then setup the SIPs in Coin based on that. This way you won’t have to go through the hassle of providing a NACH mandate.
Here in an illustration of how to set it up in State Bank Of India(SBI).
Step 1 Login to your SBI internet banking portal and select e-services.
Step 2 Select interbank transfer.
Step 3 Select the mode of transfer, i.e NEFT or RTGS. IMPS transfers arent available for recurring transfers yet.
Step 4 Select the beneficiary i.e Zerodha. It takes about 4 hours for a beneficiary to be approved for most banks so you have to add Zerodha as the beneficiary and wait till it is approved. You can find the beneficiary details here.
Step 5 Set the frequency. You have the option of scheduling every X days or months. Make sure to select the right date so that it coincides with your SIPs instalment date.
and voila, your recurring transfer is now live and you don’t have to keep manually transferring funds to your trading account every month.
Note: You should set a standing instruction only from the bank account that has been linked to your trading account. If the transfer happens from an account which has not been mapped, the funds won’t be credited to your trading account.