SWP / STP in Zerodha

Personal finance
28

@nithin: I believe a reply won’t hurt much. Can you please tell us if the implementation of these features is in the pipeline even?

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29

@nithin, appreciate if you can share timelines for

  1. STP/SWP
  2. Direct SIP from bank account rather than moving it to Zerodha - I still understand standing instruction but convenience of direct SIP will be good
  3. Mobile app
  4. Adding Franklin

Of these, first one is really critical. I am skeptical about further investing without any timelines being shared. I recently had to do a bulk investment and hence invested through Ultra short/liquid fund and then issued a weekly STP to the desired mutual funds. Eventually I had to do this through FundsIndia.

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30

@dhiraj.jha @Vijay_Kumar_Polimeru @GauravChauhan @rameshbitra

STP is coming soon :slight_smile:

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31

Can you share tentative timeline by when STP/SWP will be implemented?

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32

Any updates on this STP, SIP from Bank, CAGR, XIRR ? @faisr @nithin

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33

STP in COIN, I think there are some difficulties in implementing, such as

  1. From an investor perspective, STP may be costly in COIN, since all the Mutual fund units are stored in the DMAT format, for every withdrawal (transfer from one fund to the other), there will be redemption charges of Rs. 5.5 (DP charges), we cannot eliminate.

  2. Caution : Even if they implement STP or SWP, we have to think twice before putting the order, since if assume 5 STP’s to 5 different funds per Month means = 5 X 12 X 5.5 = Rs. 330/Year (worst case), which is above the monthly subscription charges, and trading account charges (if you are doing some stock transactions, then it is OK otherwise, this is an additional burden on “only COIN” users)

  3. Another thing is redemption time, right now it is T+2, It means once you put an order for redemption, it takes 2 days to get Money into your account. Since units are stored in DMAT form, every order has to follow T+2 time frame, in the case of investment through AMCs (MF companies) , it is an internal transfer (i.e. within the AMC) but in COIN it is different.

SIP from the Bank is not in the hands of ZERODHA, SEBI have to create some facility for brokerage firms (who are selling MF units in DMAT form) to accept direct payments from bank to mutual funds, until it happen we have to wait… and also we have to Rs. 500 annual charges for account maintenance, which is compulsory.

Considering all these, Total year charges for “only COIN” users will comes around = 600 + 330 + 500 = Rs. 1430, which is almost equal to 0.5% additional expense ratio for a portfolio value of Rs. 286000, which we are paying for a unified interface/single window interface in the worst case) (some times total STPs and SWPs may be more, if you diversify reasonably or run parallel STPs and SWPs, in that cases Rs. 330 may be even moreeee)

CAGR/XIRR and P/L statement for mutual funds Can be implemented

Above mentioned are Just my calculations as an investor may not applicable for everyone, You can calculate for your case…

Hence, implementation of STP may not happen in soon time possible, we may have to wait (:tired_face::tired_face::tired_face:)…

3 Likes
34

Thanks @Vijay_Kumar_Polimeru for spending time on detailed answer. If we could get alteast upgrade of COIN that will be good.

@nithin and @faisr @Bhuvan Can you please comment on thi.

35

Demat AMC is Rs 300 and not Rs 500. Btw, this demat AMC also allows you access to equity markets.

STP yeah, will have that Rs 5.5 charge since in demat. But in today’s age a Rs 5.5 charge, hmm…

Btw STP will take some more time, we hit some issues implementing them.

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36

Any update on STP and SWP in Coin. What happen to Coin APP ? When the soon will happen @faisr @nithin

37

The app will be our pretty soon but STP and SWP will take time.

38

@nithin @faisr @Bhuvan
By when can we expect the CAGR/XIRR and P/L statement for mutual funds in Coin or Q… this is a very basic feature for any mutual fund platform. There are other threads in tradingqna where same query has been raised and everywhere the reply is that it will be introduced soon (some of these threads are more than a year old). Can you tell the exact date by when this basic feature would be introduced?

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39

This time answer will be Pretty Soon

40

Any updates on this @nithin ?

42

You mean it’s coming soon?
Right now I have to doit manually and its tedious.

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43

u will be getting it as your answer from Zerodha folks. But it will not come. Better switch from coin

44

@nithin @faisr @Bhuvan
People have been following up with you guys for over a year and the answer has always been that the feature of CAGR / XIRR would be launched soon. But it’s just a promise that is not being delivered. It’s such a basic feature which would not require any phenomenal coding. Still it’s taking so long for launching this feature.
The least you can do is answer authentically to the query.

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52

Zerodha has recently introduced XIRR in Coin. Finally the feature is here!! Thanks Zerodha team :slight_smile:

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53

Hi @nithin ,

The SWP came in coin? If yes please let us know how to do it?

Thanks,
Praveen.

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54

Not yet, will take sometime.

55

Hello,

Looking to get at least the SWP part. may not STP yet.
We can implement STP as SWP and SIP which can switch even between different fund houses.

Please implement it. Thank you!