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

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.

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“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.

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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.