Sorry for delay, I know its last minute. But there have been several complexities and last minute changes as you folks can imagine and hence the delay in updating the thread.
Important: These changes will be live from April 1st 2022, barring any last moment changes or extensions by SEBI.
So broadly, here are the changes, and I’ll post a detailed article by tomorrow:
- Funds in Zerodha trading account can no longer be used for mutual fund investments
- For Coin SIPs and AMC SIPs you’ll get a payment link on the SIP date for the payments. For all new SIPs mandates have to compulsorily created.
- Existing mandates can’t be used for SIPs.
- For existing Coin and AMC SIPs, a page with all pending orders will be shown and you’ll have to make the payments one by one
- For lumpsum investments, netbanking, UPI, NEFT and RTGS payments will be available
- MF pledging will remain unaffected
- Existing step up SIPs will remain unaffected, but new step up SIPs will be unavailable.
- Both existing and new conditional orders will be unavailable.
- Existing Zerodha SIPs can be modified. New SIPs cannot be edited or modified. This is because of the new architecture,
We’ll try to figure out some solution for this once we make the transition.
We know this is a significant deterioration of the Coin experience but unfortunately, this isn’t in our control. The priority is to make the transition to ensure order placement remains unaffected, and we’ll progressively improve the experience after.