I am helping my sister in setting up her zerodha account. She will only use it for sip into mutual fund. Not for FNO or stock buying.
She has a HDFC bank account. i read in support articles that i need to set up bank mandate for adding funds to trading account and then those funds would be used for sip.
Is this info still true or has it changed.
She only wants to buy mutual funds. Not niftybees or goldbees. Cant the sip be done directly from bank account without involving trading account?
I read that some circular has also come out to this effect, please clarify the currenr position
This hasn’t changed. After setting up the eMandate, funds will be transferred to your trading account for mutual fund SIPs. You can check out the eMandate process here.
This comes into effect from April 22. You can check out more details on this here:
Actually i searched around and found out that coin has already added amc sip option. so if we use that option, funds go directly from bank account to amc.