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Business News/ Markets / Stock Markets/  Zerodha adds instant withdrawal feature for up to 1 lakh per day; here's step-by-step guide, things to keep in mind
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Zerodha adds instant withdrawal feature for up to ₹1 lakh per day; here's step-by-step guide, things to keep in mind

Zerodha app users can now make instant withdrawals up to ₹1,00,000 per day, co-founder Nithin Kamath said in a post on X. With the instant withdrawal feature, users can quickly transfer funds from their Zerodha account to their primary bank account.

ZerodhaPremium
Zerodha

Zerodha co-founder Nithin Kamath in a X post said, on May 30, that the brokerage firm has rolled out instant withdrawal feature on its app, which will allow the users to withdraw instant money up to 1,00,000 per day.

Kamath further informed the users that the withdrawal window will open from 9:00 am to 4:00 pm throughout the week. With the instant withdrawal feature, users can quickly transfer funds from their Zerodha account to their primary bank account.

Also read: BJP-led NDA likely to win Lok Sabha election 2024, says Phillip Capital, recommends over 50 stocks to buy

“One of our to-dos was to allow instant withdrawals. By instant, I mean instant. To start with, we (@zerodhaonline) will allow instant withdrawals between 9 a.m. and 4 p.m., up to 1 lakh throughout the week, including weekends, at no additional cost," Kamath said in his X post on Thursday.

Things to keep in mind while making withdrawals on Zerodha's online app -

  • Instant withdrawal requests can be submitted once daily between 9:00 AM and 4:00 PM, including weekends. 
  • Regular withdrawal requests have no such restrictions and can be placed at any time.
  • Withdrawal requests must be at least 100 and cannot exceed 1,00,000 per day.
  • Clients must only have Cash and Carry (CNC) sell orders and must not have any other types of orders (unfilled, filled, or cancelled) or positions (open or closed).
  • The instant withdrawal feature is not available for funds deposited on the same day.
  • If there are any segments with canceled orders, other than equity CNC sell orders, instant withdrawal will not be available.
  • Funds from the sale of holdings on the previous day will not be included in the withdrawable balance on settlement days, trading holidays, and weekends.
  • Instant withdrawal is currently not supported by Paytm Payments Bank.

Also read: Stock market crash before Lok Sabha Election Result: Why Sensex is falling today? Explained with 5 reasons

How to place an instant withdrawal?

  • Tap on user ID.
  • Then click on Funds.
  • Click on Instant.
  • Enter the amount. minimum of 100 and up to 1,00,000.
  • Tap on Continue and then on Confirm.

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Published: 30 May 2024, 04:21 PM IST
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