Zerodha Coin Review - Features, Charges, Pros & Cons

Published on Monday, February 3, 2020 by Chittorgarh.com Team | Modified on Monday, May 20, 2024

Zerodha is a leading stock broker in India. Zerodha is the first broker to offer direct investment funds through its platform Zerodha Coin. The Coin platform is available free of cost to all Zerodha customers both on the web and via the mobile app (Android & iOS).

Zerodha Coin offers investors direct investment funds from several renowned asset management companies.

Coin is a platform that allows you to buy investment funds online directly from asset management companies without incurring any commissions. All your investment funds, shares, currencies, bonds and other investments are stored in your Demat account and can be accessed from a single location.

Investors can invest in several different types of investment funds through Zerodha Coin, as listed below:

• Equity investment funds
• Bond funds
• Hybrid mutual funds
• Solution-oriented mutual funds
• Fund of funds or index funds

A demat account with Zerodha is mandatory to use the coin platform and to receive credit for all investment fund units in the Zerodha demat account. This allows Zerodha customers to conveniently trade stocks, currencies, derivatives, and mutual funds from a single trading account and hold them in a single demat account.

Zerodha Coin Features

• Investment opportunities: Investors can invest in direct mutual funds of over 40 AMCs, including HDFC, Axis and DSP. They can also invest in government bonds, treasury bills and government development loans (SDLs).
• Investment forms: Investors can choose between two investment forms: SIP or Lumpsum.
• SIP functionality: With the step-up feature, investors can automatically increase their SIP contribution by a certain percentage.
• Fund comparison: Investors can compare one mutual fund with another.
• Fund house investments: Investors can view the sectors and companies in which a fund house invests.
• Automated fund transfers: Investors can create automated fund transfers through e-mandates to fund their SIP instalments.
• Investment Tracking: Investors can closely track and monitor their investment portfolio, fund performance and current net asset value.
• Consolidated statements: Investors receive consolidated statements with visualisations, profit and loss statements and much more.

Zerodha Coin account opening

You need a trading and demat account with Zerodha to access Zerodha Coin. Zerodha offers online account openings.

Please note that you do not need a separate account for mutual funds. A trading and demat account with Zerodha gives you access to Zerodha Coin by default.

Steps to open a Zerodha Coin account

1. Visit the Zerodha website and enter your phone number.
2. Enter the 6-digit OTP that you have received via your mobile number and click Confirm.
3. Verify your email ID by entering the 6-digit OTP received on your email ID.
4. Enter your PAN no.
5. Pay the account opening charges (Rs 200 or free for people under 25 age)
6. Finish application form.

Zerodha Coin Login

The Zerodha Coin login is the same as that of Zerodha Kite online trading account. There is no separate login ID for Zerodha Coin. You must enter the same login ID and credentials that are required for Zerodha Kite.

The login credentials are provided over email post the account gets opened with Zerodha.

To log in to Zerodha Coin follow the below steps:

• Open Zerodha Coin Login.
• Click on Login and enter the user name.
• Add a password and access Zerodha Coin.

Note: If you are using a web platform to log in, add the OTP you receive from your cell phone in the Kite app after entering the password.

Zerodha Coin app

Zerodha offers the opportunity to invest in mutual funds via the Coin Web and the Coin mobile app. Zerodha Coin is a proprietary platform for mutual fund investments. The Coin mobile app supports Android and iOS systems (iPhone and iPad).

The Coin app is free on the Google Play Store and App Store.

Steps to download the Zerodha Coin App

1. Visit Google play store/ App store.
2. Search for 'Coin by Zerodha'.
3. Click Install to download the app.
4. Sign in with 'Zerodha Kite' credentials to invest.

Zerodha Coin order processing (Lumpsum & SIP)

Investing in mutual funds with Zerodha is simple, easy and fast. Zerodha Coin allows SIP and lumpsum investment.

1. Steps to invest in Lumpsum in Zerodha Coin

1. Open an account with Zerodha.
2. Login to Zerodha Coin platform (website or mobile app).
3. Look for the search bar at the top of the page.
4. Enter the name of the desired fund or fund house.
5. Select the fund. For a one-time investment (purchase), enter the investment amount.
6. Select or deselect conditional orders
7. Set up automatically (optional if you want to increase your investment amount by a certain percentage each time)
8. Click on Buy for lump sum options Click on Invest and then on Pay now
9. Make the payment using UPI or Net Banking.
10. Click to continue.

2. Steps to SIP in Zerodha Coin

1. Open an account with Zerodha.
2. Login to Zerodha Coin platform (website or mobile app).

1. Click on Mutual funds on the dashboard.
2. Click on Explore.
3. Select the fund you wish to invest in and click SIP.
4. Select a Mandate or None will be displayed by default.
5. Enter the initial investment amount along with the instalment amount.
6. Choose the frequency of selection which can be weekly, every 15 days, monthly or quarterly.
7. Click on Create SIP.
8. Please click on the Confirm button to finalise your payment.

Zerodha Coin demo

Zerodha Coin Pros & Cons

1. Zerodha Coin Benefits

Investing in mutual funds using Zerodha Coin provides you with a range of benefits listed below:

• Unlimited free investments with no commissions for your investments.
• A dedicated platform for direct investments in mutual funds
• With the step-up SIP feature, SIP amounts can be automatically increased by a predefined percentage. Free with zero commission, brokerage and costs
• SIPs can be customised and changed at will.
• Invest in direct mutual funds from over 40 AMCs and access 2200 funds.
• Start, pause or stop SIPs online whenever you want.
• A consolidated statement that includes a P&L, visualisations and more.
• An investment in the DEMAT format is advisable to simplify and facilitate the application process.
• Purchase or redemption of funds based on the NAV level you set.
• Access multiple direct mutual funds from different AMCs in a single account
• With one trading account with Zerodha, you can invest in multiple securities.
• Available for Android and iPhone users.

2. Zerodha Coin Disadvantages

Zerodha coin suffers from a couple of disadvantages:

• A Demat account with Zerodha is required to invest in mutual funds.
• Zerodha does not offer mutual fund recommendations or research services. Therefore, it is difficult for beginners to find the right fund.
• Early cut-off time for purchase and redemption of mutual funds.

Zerodha Coin Customer Care

Zerodha does not have a separate customer service for Coin. Investors can contact Zerodha support if they need help investing in investment funds. Alternatively, you can also create a ticket via the Zerodha support portal using the Zerodha kite login.

Zerodha Coin Support (Zerodha Support Contact)

1. For general queries: 080 4718 1888 / 080 4718 1999
2. For account opening: 080 4719 2020/ 080 7117 5337

Zerodha Coin e-Mandate

Zerodha Coin offers its customers an e-mandate feature that allows investors to fund their SIPs on time without having to remember to transfer manually on the scheduled SIP date.

Zerodha Coin's e-Mandate feature allows investors to schedule automatic transfers from their bank account for their SIPs in two easy steps.

1. Register an e-mandate on the console for the bank account linked to your Zerodha account.
2. Schedule transactions to automate fund transfers for the SIP.

To register for an e-mandate, your bank should support the NACH e-mandate.

Zerodha Coin Exit Load

The exit load is the penalty charged by the fund houses if an investor exits or redeems the mutual fund prematurely or within a certain time. The exit load vary from fund to fund. Some funds do not have any exit load

Zerodha Coin displays the exit load for each fund on the fund details page. For example, if a fund has an entry charge of 1%, 1% of the last net asset value will be deducted from your redemption amount in the event of an early redemption.

Zerodha Coin NFO

Zerodha offers the possibility to apply for the NFO online via the Zerodha Coin website. Currently, the NFO application feature is not available in the Zerodha Coin mobile app. Zerodha is working on integrating the NFO application feature into the Coin app soon.

Read more at Zerodha NFO explained.

Conclusion

Zerodha Coin is a secure and excellent online platform for investing in direct mutual funds. By eliminating commissions and fees with Zerodha Coin, investors can earn more (up to 1.5%) than with regular mutual funds. The platform also allows Zerodha customers to consolidate and easily manage all their investments in one place or a demat account.