Last month, Zerodha passed a resolution that allowed founders, Nithin and Nikhil Kamath to take home salaries in excess of ₹100 crores. Already the richest self-made billionaires in India under 40, the move will not just further strengthen their financial muscle but is also a validation of how successful their products are. In this article, we’ll be reviewing one of their new offerings.
What is Coin by Zerodha?
Coin by Zerodha is a direct mutual fund platform. It allows you to invest in mutual funds directly, which saves you a lot of money in the short and long term. The platform is free to use and doesn’t charge anything even if you invest in multiple mutual funds.
Best features of Coin by Zerodha
Checkout some of our favourite features of Coin by Zerodha.
- Excellent interface
Being India’s first online brokerage firm, Zerodha places a lot of emphasis on technology and innovation. You can see that in Coin, which boasts tremendous easy navigation and a brilliant interface. Exploring funds and placing orders is an absolute pleasure on the platform. You can also check and search for funds as per categories and on the basis of sector data.
- Unlimited free investments
Like most people, if you invest through an agent, you will need to give commission to him or her. It won’t seem like a lot in the short term, but down the line, you could end up paying lakhs. Coin helps you save this amount by letting you invest directly in mutual funds. The platform lets you invest in mutual funds for free. It does this by connecting you directly with AMCs.
- Flexibility with investments
Investing in mutual funds through Coin is also pretty flexible. You have the freedom to choose the timing of your SIP. You can also be able to create, pause, and modify your SIPs anytime you want. Thanks to Coin’s seamless interface, the process is instant and hassle-free.
- Tax and payments
Ease of payment is a big thing, and Coin by Zerodha knows that well. You can make instant payments using bank transfer, UPI, or any other method. Also, you can invest in ELSS Funds on the platform. ELSS funds are mutual funds that come with tax benefits. They help you save tax under section 80C. Filing tax is also one click away on Coin.
Pros and Cons of Coin by Zerodha
Let us delve further and look at some pros and cons of using Coin by Zerodha.
- Direct deals with AMCs.
- No commission fee involved.
- Funds are maintained in Demat accounts, which makes them easy to track.
- Avail single capital gain statement for different investment entities.
- Flexibility with SIPs. Start, stop and modify SIPs at any time and with convenience.
- You need to choose your own funds. This can be a problem for new investors.
- You need an active internet connection to use the platform.