SIP in Zerodha

Zerodha, one of the best performing brokers in India, is known for its UI and various features embedded in its app. It has completely changed the trading experience with a lot of upgrades since its inception. Zerodha provides a platform for stock trading, futures and options, currency, mutual funds, IPO, commodity trading, etc. In stock trading, Zerodha introduced a lot of features that make traders’ lives easier. Here we will talk about the SIP features provided by Zerodha.

What is SIP?

A Systematic Investment Plan, or SIP, is an investment plan where people can invest their money in fixed amounts at regular intervals. The best part is that the user has the ability to choose the amount to be invested, various plans, installment dates, tenure as per availability, and many more.

The Advantages of SIP

The benefit of SIP, especially in a volatile market, is that it gives you an opportunity to balance your investment. You can have full control of the SIP that you have opted for. You can edit the SIP any time you want. It’s convenient for the beginner, as this is less risky than investing in equity and, without much knowledge about company fundamentals, you are investing in a set of stocks picked by a certified advisor. 

Stock SIP in Zerodha

Zerodha has introduced a feature to start with SIP for stocks as per your choice. Unlike in mutual funds, you can create your own set of stocks in which you can invest a fixed amount every month with a single time setup. So, how do you get started with SIP stocks in the Kite app? Let’s go through the steps to understand and create your own stock SIP.

  • Log in to the Kite app.
  • Go to the “Tools” tab from the bottom panel.
  • Click on “SIP”.
  • Click the “+New SIP” button near the search bar.
  • Give a name to your SIP plan.
  • Add to any existing basket or create a new basket before proceeding.
  • Then, you can schedule the SIP date and time as per your convenience (SIP falls on weekends and holidays; the transaction will happen on the following trading day).

How to create a Basket in the Kite app?

  • Log in to the Kite app.
  • Go to the “Tools” tab from the bottom panel.
  • Click on “Basket.”
  • Click the “+New basket” button near the search bar.
  • Give it a name.
  • Add up to 20 stocks to the basket.
  • You can add or delete stocks from the basket at any time. Also, the basket can be deleted at any time.

How to edit a Stock SIP?

  • Go to the Kite App.
  • Go to the “Tools” tab from the bottom panel.
  • Click on “SIP”
  • Select the SIP you want to modify.
  • You can pause or resume, edit, and delete it.
  • Once you pause it, a further deduction of funds won’t be done until it’s resumed again.
  • Click on edit for any changes in data, time, basket, etc.

SIP in the Coin app by Zerodha

The coin app by Zerodha gives you a free mutual fund platform. You can invest in any available mutual fund easily from this app. You have the option to create, pause, and modify any SIP at your convenience. Let’s go through the steps on how to create SIP in the Coin app:

  • Select the mutual fund of your choice.
  • Select the Tenure.
  • Click on the “SIP” button.
  • Add the required funds.
  • Check the “AMC SIP” box.
  • Edit the installment amount.
  • Select the installment date.
  • Proceed with “Create AMC SIP”

FAQ on Zerodha SIP

How many baskets can I use for a Stock SIP?

Up to 3 baskets.

How to pay for the Stock SIP?

The amount will be deducted from the Zerodha Wallet balance. Zerodha also provides automatic investment for SIP (please visit Zerodha’s official website to know more about e-mandate).

What if I am unable to pay for an installment?

You can pause your SIP anytime you want, and resume when you are ready with the investment.

Can I select my choice of stock in SIP?

In Stock SIP, you can create your own basket and start with a SIP investment. Check the article for step wise guidelines.

Can I create or modify SIP in a mobile app?

Yes, you can use the mobile app for creating and editing your SIP.

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