Is there any charge for redeeming Direct Mutual Funds invested through Coin after the investment period has crossed 1 year. Because it was written that there is no exit load after 1 year.
You will have to read the ‘Scheme Information Document’ to know whether or not Exit loads get charged. Some schemes charge exit load if you redeem within 6 months, some within one year and so on.
If you’ve purchased using Coin, you’ll be holding the units in demat form. When you redeem, the units will have to be debited from your demat account for which you’ll pay a nominal DP transaction fee of Rs.6.3. No other charges apply otherwise.
Hi VM1… Thanks for your post. But there are some other post where a redemption charge of Rs 287.50(including service tax) which is an additional charge apart from Rs.6.3 DP charge that you mentioned. So, can you or some body from Zerodha or @nithin can clear the air about redemption charges in Coin for once and all. Thanks.
Link where charge of Rs 287.5 apart frm DP charge of Rs 6.3 is mentioned --> How to redeem Direct MF holding present in Zerodha Demat?
It is Rs 5.5 plus service tax. This is charged by our depository (CDSL).
Hi Nitin please correct me if am wrong.
As per Zerodha - DP charges charge: Rs. 5.5 is charged by the depository (CDSL) and Rs.8 is charged by the depository participant (Zerodha) i.e a total of Rs.13.5 per scrip and Plus GST.
So for redemption of any fund you will charge 6.49(5.5+GST) or 15.93(5.5+8+GST)?
(I am doing my invest in only on direct MF in coin platform and 50+GST subscription is active )
For mutual funds it is Rs 5.5+GST
GST on total returns or initial investment amount?
No, GST only on the Rs 5.5. So it is 18% of Rs 5.5 . So total of Rs 6.5.
Sirs I seen this comment that in demat form units can be sold to individual instead of AMC is this true?: