I have been using COIN for SIP in Direct Mutual Funds since last 3 months, i have already crossed the 25k limit & now i am liable for 50rs per month charge deduction. But as i have observed i cannot see how much exactly amount is deducted as your COIN platform does not have a way showing all transactions either debit or credit in account.
Can you tell me (date) when & exactly how much the amount (50+GST) will be deducted from my account…?
Also let me know if you have a passbook facility where i can check all debit & credit transactions, this will be really useful for all user.
can anyone help me understand the difference in taking an SIP of 25K per month for one year on coin direct platform Versus buying an SIP of 25k regular fund through AMC ? I belive 2% is the overall charge by coin platform per year for this ? what is the charge variation if we take outside coin
Even I am also willing to start SIP on COIN , but problem is I saw they have condition as Minimum SIP amount is 5000.
But If we will start SIP on respected MF website , we can start with even 500 or 1000 also.
So is there any way to start SIP in COIN with what ever amount we want ?
No it’s not the minimum SIP amount of RS 5000/-, it’s for the first time investment in that particular fund, thereafter as per the minimum amount required per fund (500/- or 1000/-).
Coin is the best platform to manage the SIP. You can start, pause, stop, increase, decrease, duration etc are done with just one click.
We have to start any SIP with 5000 INR for 1st MONTH, and then After I have to set my monthly Amount as whatever I want to invest into that.
For SIP , we can invest any amount at any month like
In 2nd Month I paid 2000 INR for SIP A.
In 3rd Month I can pay 1000 INR for SIP A.
In 4th Month I can pay 10000 INR for SIP A
etc…
because it is flexible. ?
Suppose Once I will stop my SIP and wanna to withdraw amount , then in that case we have to pay any tex. PLease clarify this.
THanks
First time investment to open your folio you need to invest RS 5000/-.
Then as per your point 1 you can fix your SIP amount.
Point 2: you can increase, decrease, pause, start, change frequency ( weekly, 15 days, monthly, quarterly).
Please check with funds regarding exit load, and short term capital gain is there in equity n debt fund. Long term capital gain is nil for equity but will be applied for debt with indexation.
I already referred tothis question and it did not have the answer I was seeking for.
So I am about to reach my 25k investment limit on Coin and I was wondering how the deduction of Rs. 50/- will happen. I am thinking of following scenario.
A) If I start SIP, I will always have to add (Rs.50 + Taxes) in my standing instruction amount for transferring to my trading account
B] If I do lumpsum and I will have to keep (Rs.50 + Taxes) while transferring to my trading account
C] If I decide not to invest at all, I still have to transfer (Rs.50 + Taxes) every month to my trading account
Which one will be it ?
Now the hypothetical scenario
I wait until eNACH is finally implemented and BackOffice tool Q takes care of everything by withdrawing SIP + Fees from my account.
And finally the add-on question
Why cant I just pay Rs.600 + Taxes upfront for the whole year and be done with it ? Rs. 50 is a real hassle IMHO.
Not necessarily. Rs.50 will be deducted once a month from your account separate of your SIP installment. Just make sure your trading account has enough funds for the subscription fee as well as the SIP installment.
Same answer as above.
Not sure what the question is. If you asking if the e-Nach will take care of everyhting the I am guessing the answer is Yes. But maybe @faisr can answer more.
Don’t think too much about coin charge, I have a solution for you:
If your SIP is of Rs X , then keep Rs X+59/- in your trading account, eg SIP is of Rs 5000/- then every month just keep Rs 5059/- in your trading account.
I hope this will solve your problem.
Hello nikhil, does it mean if started sip of 1k and then i want to increase it to 1.5k or decrease it to 500 Rs. Is it possible on coin? It is even applicable to ELSS (tax saving funds)
@Rahul_Raj
Yes you can do all these with Coin in all the funds and that too with a touch of your finger.
No need to give bank mandate, change biller etc in the case of starting or increasing SIP in normal case.
