Dematerializing existing Regular MFs which are held in joint holding

Zerodha Coin - Direct MF
1

Hi Zerodha team,

Congrats on launching the Coin app. It’s awesome!! It is going to be very handy for investors like me who use Zerodha majorly for MF Investments.

Coming to the query - I saw a notice on Coin app stating that existing MF Investments can be dematerialized. In Zerodha there is only one account holder who obviously is the first and sole account holder of the DEMAT account and hence, also of the MFs bought in Coin. In short, for my Zerodha account, I would be the only sole account holder of the mutual funds which I buy through Coin. However, my previous MF holdings have two holders with myself being the first account holder. Also, they are Regular MFs and not Direct. Hence, the following queries.

  1. Can I dematerialize my jointly held MFs (in which I’m the first account holder) to my Zerodha Coin account (in which I’m the sole DEMAT account holder)? If yes, then can you please elaborate the process.

  2. Can I dematerialize the MFs to reflect on my Coin account even if they are Regular MFs (and not Direct MFs)?

Regards,
Mobi

2

Hey @Mobi , glad you loved the app :slight_smile:

  1. The problem is that the RTA will not accept this sort of demat request. So you can either open another joint holder demat account and dematerialize the units to Joint hoder demat account and we will update this Demat number on coin as well OR once you have opened the joint demat and once the units are credited then you can transfer the units to your individual account and then close this joint demat account.

  2. Yes, you can. Please refer to this link on our support portal to transfer the mutual fund units.