Coin penalty charges in case of no money in account

Hi all,

Just a simple query. If i have a MF SIP for execution on say 19th August and if I don’t have any money in my account to pay for it, I understand my order won’t get executed, but are there any penalty charges because the order didn’t get executed?


Nope :slight_smile:

How long will Coin attempt to place order if there is no money ?

We’ll attempt the sip 5 times consecutively. No tries, in case it is an AMC SIP.

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Generally, when I buy SIP from AMC directly, I register that with my netbanking. While registering, I personally do not setup autopay, but rather opt for getting it presented as a bill, so that I have more control.

When the SIP “bill” shows up on my netbanking, I get a due date, and it’s generally beyond (later than) the SIP date. E.g. my SIP date is 3rd of every month, but the due date shown is 7th, and I can make the bill payment on 7th (I generally do it on 5th).

I don’t know whether it’s ethically right or wrong, but since i have the option to keep my money 2 days more in the bank to earn interest (however small it may be), I generally make the payment on 5th (do not wait for the final due date). That is two days after the SIP got executed without any issue.

Does zerodha coin work like that? I just setup my first SIP with coin a few days back, and i setup a recurring e-mandate on the same day of the SIP (still hasn’t executed), but I think I saw a “due date” somewhere in coin (cannot find now). Can anyone give me details about it?

@Bhuvan - when you say ‘consecutively’, is it like on the SIP date within a few minutes/hours or do the tries go beyond a single day?

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5 days.

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One more question here - how do I know if my SIP is an AMC SIP or not?

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@Bhuvan ^

There are only about 5 funds which had stopped inflows previously which are AMC sips. These are funds like the DSP small-cap, Mirae Emerging Bluechip etc where lump-sum inflows are stopped.