How to pause or cancel an SIP on Coin

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A Systematic Investment Plan (SIP) on Zerodha Coin can be paused temporarily or cancelled permanently at any time. Stopping an SIP does not redeem the units already purchased; your existing mutual fund units remain in your CDSL demat account until you separately initiate a redemption. This guide explains the pause and cancellation processes, timing constraints, and mandate management.

Prerequisites

  • An active Zerodha trading and demat account with complete KYC.
  • At least one active SIP in your Coin portfolio.
  • TOTP authenticator for Zerodha two-factor login.

Pause vs. cancel: key differences

Pause: Temporarily suspends SIP instalments for a defined period (typically 1 to 3 months), after which the SIP automatically resumes. Not all AMCs support the pause facility. The SIP mandate (UPI autopay or NACH) remains active during the pause; instalments are simply skipped for the pause period.

Cancel (permanently stop): Permanently stops all future SIP instalments. The SIP mandate (UPI autopay or NACH) should also be cancelled if you do not plan to restart the SIP, to prevent any inadvertent future debits.

In both cases, existing mutual fund units are unaffected. They remain in your demat account and continue to earn market returns (positive or negative).

Regulatory and AMC rules on SIP pause/cancellation

Under the SEBI (Mutual Funds) Regulations, 1996 and AMFI guidelines, AMCs are permitted but not required to offer an SIP pause facility. The availability of pause, the maximum pause duration, and the notice period required before the next instalment are defined in each scheme’s Statement of Additional Information (SAI).

For SIP cancellation, SEBI requires AMCs to process cancellation requests received before the cut-off date (typically 5 to 7 business days before the next SIP debit date) in time to prevent the next instalment. Requests received after this cut-off may result in one more instalment being debited before the cancellation takes effect.

Step-by-step procedure

Step 1: Log in to Coin

Navigate to coin.zerodha.com or open the Coin mobile app. Enter your Zerodha client ID, password, and TOTP.

Step 2: Navigate to SIPs

From the portfolio menu or dashboard, go to Portfolio > SIPs. This page lists all SIPs – active, paused, and cancelled. Each entry shows:

  • Fund name
  • SIP amount per instalment
  • Frequency and next SIP date
  • Mandate type (UPI autopay or NACH)
  • SIP status

Step 3: Select the SIP

Click on the SIP you wish to pause or cancel. The SIP detail page opens, showing the SIP history (all past instalments with dates, amounts, NAV, and units allotted), the mandate reference number, and available actions.

Step 4: Pause the SIP (if supported)

If the AMC supports the pause facility, a Pause button or option appears on the SIP detail page. Click it.

Select the pause duration from the available options (for example, 1 month, 2 months, or 3 months). The number of instalments to be skipped is shown. Confirm the pause.

Coin submits the pause instruction to the AMC. The SIP status changes to “Paused” and the next instalment date updates to the first instalment date after the pause period.

If the Pause button is not available for a particular fund, the AMC does not support the SIP pause facility. In this case, you must cancel the SIP and restart it later.

Step 5: Cancel the SIP (permanent stop)

Click the Cancel SIP option on the SIP detail page. Coin displays a confirmation prompt showing:

  • SIP fund name and amount
  • Number of instalments already completed
  • Units purchased so far (total)
  • Next SIP date that would have been debited if not cancelled

Confirm the cancellation. Coin submits the cancellation instruction to the AMC via the BSE StAR MF platform.

Timing note: If the cancellation request is submitted within 5 to 7 business days of the next SIP date, the next instalment may still be debited before the cancellation takes effect, as the mandate debit may already be queued. This is normal behaviour governed by NPCI and NACH rules; the instalment units purchased will remain in your portfolio.

Step 6: Cancel the payment mandate (if permanently stopping)

Pausing or cancelling the SIP in Coin stops the SIP orders, but the underlying UPI autopay or NACH mandate may remain active in the payment system. To fully close the recurring debit, cancel the mandate separately:

UPI autopay mandate: Open your UPI app (Google Pay, PhonePe, Paytm, BHIM, or your bank’s UPI app). Go to Manage Mandates or Recurring Payments. Locate the mandate for Zerodha Coin (the payee name shows the AMC or BSE StAR MF). Cancel the mandate.

NACH mandate: Log in to your bank’s net banking portal. Go to the NACH mandate management section. Locate and cancel the mandate. Alternatively, visit your bank branch with a mandate cancellation request form.

If you plan to restart the SIP in the future, you can leave the mandate active and simply re-register the SIP in Coin; it will use the existing mandate if it covers the new SIP amount.

Step 7: Verify SIP status

Return to Portfolio > SIPs in Coin. The cancelled SIP should now show a “Cancelled” status. The paused SIP shows “Paused” and the next instalment date reflects the post-pause resumption date.

What happens to units already purchased

Cancelling or pausing an SIP does not redeem any units. All units purchased through previous SIP instalments remain in your CDSL demat account, visible under Portfolio > Holdings in Coin. These units continue to be invested in the scheme and their value fluctuates with the NAV.

To redeem the accumulated units, follow the How to redeem a mutual fund on Coin guide separately.

Restarting an SIP after pause or cancellation

After pause: The SIP automatically resumes instalments after the pause period ends. No action is required.

After cancellation: You must register a new SIP from scratch. See How to start an SIP on Coin for the setup procedure. If you previously used a UPI autopay mandate and it is still active, Coin may use it for the new SIP if the amount is within the mandate limit.

What can go wrong

Cancellation too close to the next SIP date: If you cancel less than 5 business days before the SIP date, one more instalment may be debited. This is a payment system constraint, not a Coin error. The units purchased are normal and remain in your portfolio.

Mandate not cancelled after SIP cancellation: If you cancel the SIP in Coin but forget to cancel the NACH or UPI mandate, the mandate itself is dormant (since no SIP order will be generated), but it is good practice to cancel unused mandates to avoid confusion.

Pause not available: Some AMCs do not support SIP pause. In that case, cancel and restart the SIP when ready.

SIP date conflict with bank holiday: If the SIP date falls on a market or bank holiday, the instalment is processed on the next working day. This does not affect the pause or cancellation process.

References

  1. SEBI (Mutual Funds) Regulations, 1996, as amended.
  2. AMFI Guidelines on SIP operations and investor rights.
  3. NPCI UPI Recurring Mandate Framework.
  4. NACH Operational Procedural Guidelines, National Payments Corporation of India.
  5. Zerodha Coin support documentation (support.zerodha.com).

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

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WebNotes is independent. No relationship with any broker, registrar or bank named in this article.