Coin SIP vs AMC SIP

Hello,

I am new to Zerodha. I want to understand the difference between Coin SIP and AMC SIP.
I am interested in coin SIP because I can have control over SIP modification. How do I start such SIP? I tried to visit Zerodha support but it has only AMC SIP details.

Also is there a tutorial/demo on how coin works in general?

Advantages that coin SIP has over AMC sip is you get additional options in coin console to modify & Pause SIP

Modify will have options to change SIP date, amount etc
Pause is self explanatory

How do I know if the SIP I am starting on coin in AMC SIP or COIN SIP?
I don’t see the clear option mentioning which type of SIP when I try to start a new SIP.

Just took a random fund as an example

The check box “suggested initial investment” is for the coin SIP. If you uncheck the options would be different

Also Refer : How do I modify or cancel an SIP on the Coin app?

Hope this helps @Deepak_Nirmal

The difference is clear now. Thank you.

I have another question about money transfer from bank for SIP. When I setup SIP, money will be automatically deducted from my bank account or I need to transfer money in Coin before every SIP?

Along with SIP you need to create mandate in zerodha console

I am setting up new SIPs and came across the AMC option. Is there any advantage of an AMC SIP over Coin SIP ? Pls clarify

@skv81
Advantage of AMC SIP over COIN SIP:
All Coin sip’s are just simulated SIP’s. In the backend they do lumpsum investment. so AMC’s consider them as lumpsum investment. Whenever AMC’s stops lumpsum and not giving additional time for new SIP’s then it will be a problem.
becz of backend lumpsum investment, you could see higher Min SIP amounts for COIN SIP’s.
e.g., Min SIP amount of AXIS Growth opportunities is 1K as per fund house/AMC SIP. But if you use COIN SIP it would be 5K

The only advantage of COIN SIP is you can edit/pause. But for a long term investor, will you really edit/pause frequently?