Issue in minimum amount (Min. ₹100000000) in SIP in Coin

Zerodha Coin - Direct MF
1

Hi,

I am try to start one SIP in Coin. I want to start a daily SIP, so I switched the frequency to daily. But the minimum amount changed to Min. ₹100000000 in zerodha coin.

In the coin page of that mutual fund itself minimum amount is 100 as mentioned and for monthly frequency it is correctly showing as 100, but for daily frequency it is showing as Min. ₹100000000, so not able to proceed with the SIP.

Fund names - Edelweiss Greater China Equity Offshore Fund

Edelweiss US Technology Equity Fund of Fund

Edelweiss Europe Dynamic Equity Offshore Fund

Is this any bug or issue in Coin? Any one know about it?

2

Hey @ArulPrakassam

Only the Monthly AMC SIP is allowed for some Edelweiss international schemes. Because of this, Daily and Quarterly SIP options show incorrect values like the ₹10 crore minimum amount. We have reported this issue. You can check this circular for further details.

Also, today is a non-business day for some international schemes, including Edelweiss US Technology. Due to this, Monthly AMC SIPs cannot be created today and will be available from the next business day.

3

Thanks @KarthikAcharya for sharing this information.