Can someone guide me how I can open coin account?

Zerodha Coin - Direct MF
1

Can someone guide me how I can open coin account? And what are the charges?

2

You will have a coin account by default if you have a Zerodha trading and DEMAT account. Use the same credentials to login to Coin. Check these FAQs for more info - https://coin.zerodha.com/faq

Coin is a direct mutual fund platform wherein you can buy MFs directly from the asset management companies. When you buy directly, you dont pay distributor commissions, which means you tend to earn higher returns. We charge Rs.50/- per month as platform fee, against this fee you can buy as many mutual funds as you want.

We recently had a webinar detailing everything you need to know about direct mutual funds. I’d suggest you watch this vidoe as well - https://www.youtube.com/watch?v=NIvqXeQ90Wo

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3

I have ilfs demat account. What should I have to do?

4

You cannot invest in mutual funds if your demat is held with IL&FS. So the process is you need to close your IL&FS demat a/c and open a Zerodha demat account. To do that you need to send us the IL&FS demat closure letter which can be downloaded here and send the Zerodha demat application along with it. You can download the pre-filled demat form from the profile section of Q. Once your Zerodha a/c is open you start investing with Coin.

5

Then what happens to my current shares in ilfs demat?

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You holdings will be moved to your new Zerodha demat account.

7

Is there any charge for moving the shares?

Also, can I keep both demat accounts for my trading account? If so,how does that work? I.e. selling and buying

8

@daracha If you move the shares via Closure cum Transfer, there aren’t charges.
Yes, you can keep both demat accounts. But, here Zerodha becomes the primary account & default account when you purchase/sell stock. Those shares that are only in the primary account will be visible under Kite holdings.

9

Then how may I track holdings in secondary account and sell them?