Systematic Withdrawal Plan (SWP) on Coin for your Mutual Funds Investments is now live. Zerodha SWPs, distinct from conventional SWPs provided by Asset Management Companies, and allows users to systematically withdraw funds from the mutual fund holdings, set the frequency as per the requirement and pause it whenever required.
How Zerodha SWP works?
Zerodha SWP operates based on the selected withdrawal amount, with unit calculations made on the execution date. You can set up an SWP with a minimum amount of ₹500, and choose from various withdrawal frequencies such as weekly, fortnightly, monthly, and quarterly.
SWP requests can be initiated one day before the trigger date.
Orders are automatically triggered on the chosen date at 10:00 AM and are processed by 3:00 PM on the same business day. On the specified order trigger date, our backend system calculates the units based on the Net Asset Value (NAV) from the previous trading day (T-1 day) and places a redemption order directly with the exchange.
Please note that once an order is triggered, it cannot be cancelled.
How does Zerodha SWP order execution work for Non-POA and Non-DDPI users?
Will the SWP get paused automatically or will we have to do it normally?
Can the system of SWP be modified a little to add a one-time or just conditional sell orders? Or did you guys already have in your to-do list? Eg. I’d like 10k Redeemed from a certain fund when the NAV hits so and so value similar to take profit levels.
Any chances of seeing the STP feature on Coin in the future? My investments revolves around the Zerodha ecosystem (Kite, Coin, Small Case, Tijori). I will be required to avail the STP feature in the future. Don’t intend use another platform just to avail this feature.
Having STP is most awaited feature im coin this will help motivate coin users to prefer mf sip using coin. 2024 is about to begin soon any good news om expected tentative date?
Also ome more question recently observed that coin mandate max lkmit is 1 crores and doesn’t gives option to edit the max limit of mandate while.creating why this change? Earlier mandate limit default was 1 lakhs