Deducting SIP Amount directly from Bank

You Need to add funds into your Zerodha Trading Account.

@nithin having funds in trading acccount does not yield any returns. Bank to MF autodebit is not enabled now.

as a workaround, can we park these funds in LIQUIDBEES and then authorize you/Coin to debit the amount by liquidating these LIQUIDBEES shares.

Bank to trading/MF auto debit should be possible very soon with eNACH. We are planning on having STP kind of feature where you can move from one fund to another.

I believe eNACH is available with Digio NACHBase. Zerodha is already using Digio for eKYC and eSign. Is it same eNACH feature you are talking about? Is there any timeline when this feature can be available with coin?

Yep the same, in the next couple of weeks

Is there any penalty if I schedule an SIP but fail to transfer money to my trading account on the said day of the month?

no penalty applicable

What if I scheduled an SIP for 10000 for 4 different funds and I have only 3000 in my trading account? How will the 3000 be distributed among my funds?

Is it available now?

As per NPCI website, NACH eMandate and Corporate Live Status. Zerodha is already a live member of eNACH.

Is there any timeline when this feature can be available with coin?


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:slight_smile: that is crazy that you found that link.

We are currently testing it out. So should be possible very soon.

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There is one advantage of deducting money from Zerodha trading account as compared to bank account. Once I did not kept enough funds for my SIP and I was penalized heavily (approx Rs. 300 plus taxes against an SIP of Rs. 1000/-) by bank for bounce of ECS.

In case of Zerodha, there will not be any penalty as the order will not be executed due to unavailability of funds. Correct me @nithin if I am wrong.

Yep, there isn’t any penalty for missing a SIP. :slight_smile:

Will the collateral on MF be same as the current equity model we have in Zerodha?


If your linked bank account is HDFC you can always use standing instructions to automate your monthly transactions. Amount will be deducted from you bank and credited to trading account. make sure you set this date before the SIP date.

@nithin @Bhuvan Any update on this? Is there any timeline when this feature can be available with coin?

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Hopefully in the coming few months :slight_smile:

@Bhuvan any update on this? @nithin please let us know if there is any other way to get it done, signing mandate through traditional NACH.

Please do prioritize this. Thank you!

Mohit just answered this on the other thread