What is DP charges in Zerodha Coin? Mutual Fund Redemption
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- Updated On:22-Oct-2020
- Replies:1
Short Answer
Zerodha Coin has been made completely free. The DP Charges of Rs.5.5 per mutual fund redemption that were used to be charged in the past have now been waived off. So, you don't have to pay any DP charges on mutual fund redemeptions.
Detailed Answer
Earlier, DP charges used to apply on mutual fund redemptions. This was a source of revenue for depository participants. However, Zerodha waived off DP charges on mutual fund redemption w.e.f 3rd May, 2019. So, no DP charges on Coin redemptions i.e. redemption of mutual funds. All the active Zerodha Coin users might have received a mail confirming this fee waiver (when it was implemented).
So, the DP charge of Rs.5.5 per mutual fund redemption is no longer applicable. This seems to be a great move in favour of Zerodha Coin users.
Isn't it a great initiative for the investors? I really liked their gesture. I mean Zerodha is ready with sweet surprises for its customers.
Earlier, Coin platform was made free by waiving off monthly subscription charges of Rs.50 and then this big move. Zerodha is all set to give a very tough competition to other stock brokers and mutual fund platforms as well.
Zerodha Coin is free to use!
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Discussion (0)
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