SIP amount deduction

[Rk_S]

I have recently setup about 4 monthly SIPs in Coin. The initial investment amount for all the SIPs was deducted from my trading account.
I wanted to know if the SIP amount every month will also be deducted from my Trading account or directly from my Bank account? I will have to accordingly plan my transfers!

[BharatW]

@Rk_S

I wanted to know if the SIP amount every month will also be deducted from my Trading account or directly from my Bank account?

The amount for MF purchases is debited from your trading account and not from your bank account.

Note that the amount for all Coin mutual fund orders placed before 1.30pm will be debited at 3.30pm on the same day. If the required funds are unavailable at 3.30pm, then it’ll be carried forward either until the amount is available in your trading account or you cancel the orders.

You can also fix a Standing instruction from your bank account to your trading account on the day before your SIP due date as well to ensure your SIPs always execute. Check the below link for more:

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

I wish to start a SIP(Systematic Investment Plan) in a direct mutual fund on Coin every month after my pay day. How do I schedule a bank transfer from my bank account for a date regularly from my bank since Zerodha doesn’t have an option to debit funds directly from my bank account?