How is coin better than clear funds or other portal which provide direct funds consolidated at one place

[Bhushan_Bakshi]

Right now there are several direct mutual fund providers which directly start deducting money from bank account.
In demat isn’t there some hazzle as we have to set a standing instruction to transfer money to demat first every month pay any transaction fees as well…

[BharatW]

@Bhushan_Bakshi

In demat isn’t there some hazzle as we have to set a standing instruction to transfer money to demat first every month pay any transaction fees as well…

Funds for your Coin MF purchases are debited from your trading account. Your trading account is directly linked to your bank account, so to buy MFs on Coin, all you have to do is transfer money to your trading account from your bank. If you do a NEFT/RTGS/IMPS from your bank, then there are no transaction costs from our end.

If you find it a hassle to keep track of when you have to transfer funds to the trading account to ensure you don’t miss your MF SIPs, you can issue a standing instruction from your bank account to your trading account for the days you require to have funds for your MF purchases. The steps for this are mentioned on the link below:

Can I schedule transfers directly from my bank to Coin MF platform for SIPs?

You can use a feature called a standing instruction wherein you can schedule a transfer from your bank account to your Zerodha trading account on a fixed date. This feature is available in all major banks and is pretty easy to setup. You can schedule transfers NEFT or RTGS on a fixed date every month. You can then setup the SIPs in Coin based on that. This way you won’t have to go through the hassle of providing a NACH mandate. Here in an illustration of how to set it up in State Bank Of India(…

Also, this is an excerpt from Nithin’s post on why you should buy Direct mutual funds on Coin held in Demat form.

The entire post is here, do read:)

[Roshan7]

I intend to start investing in Direct mutual funds and start being active in the markets again. Considering the above factors, it looks like Coin is the way to go forward for my investments. Thank you friends.

[Bhushan_Bakshi]

@BharatW

Also, this is an excerpt from Nithin’s post on why you should buy Direct mutual funds on Coin held in Demat form.

I and my brother both want to start investing in mutual funds, managing separate account looks cumbersome.
So there is no safety issue right with demat or zerodha, when all our money is in one place…
account getting hacked or zerodha decides to stop operations like that?
I know i am thinking too much,

BTW can we get OTP based authentication while logging to zerodha ??

[BharatW]

@Bhushan_Bakshi

account getting hacked or zerodha decides to stop operations like that?

The only way your account could get hacked is if someone else gets access to your login credentials. You’ll have to ensure this is safe with you only. And even if Zerodha stops operations, all your MF units are still held in a dematerialized form in your CDSL Demat account. You can directly approach the depository to have your MF units rematerialzed to paper form and then you can redeem these units directly with the AMC managing the MF.

So you are good to go, happy investing!