Instant Withdrawals: Zerodha, one of India’s leading stock brokerage firms, has introduced a new feature allowing users to withdraw funds instantly from their trading account to their primary bank account. This article elaborates on the details, requirements, and steps for using Instant Withdrawals feature effectively.
Overview of Instant Withdrawals
Zerodha’s Instant Withdrawal feature enables users to transfer funds within seconds during specified hours on trading days. This service enhances the flexibility and convenience for traders and investors, ensuring quick access to their money.
Key Features:
- Speed: Funds are transferred instantly to the primary bank account.
- Timing: Available from 9:00 AM to 4:00 PM on trading days.
- Limits: Minimum withdrawal of ₹100 and a maximum of ₹1,00,000 per day.
Requirements for Instant Withdrawals
To use the instant withdrawal feature, users must adhere to specific conditions:
Submission Time:
- Instant withdrawal requests can only be submitted once per day between 9:00 AM and 4:00 PM on trading days.
- Regular withdrawal requests are not restricted by these timings.
Amount Limits:
- Minimum amount: ₹100
- Maximum amount: ₹1,00,000 per day
Eligibility Criteria:
- Orders and Positions: Users must not have any orders (completed, cancelled, or partially filled) or positions (open or closed) except for Cash and Carry (CNC) sell orders.
- Proceeds from Sales: Funds from the sale of holdings are available for instant withdrawal only on the next trading day after 11:00 AM.
Restrictions:
- Instant withdrawal is unavailable if any segment has cancelled orders, except for equity CNC sell orders.
- Funds added during the day cannot be withdrawn using the instant withdrawal feature.
- Instant withdrawal is not supported for UCO Bank, Karur Vysya Bank (KVB), or Paytm Payments Bank.
Non-Operational Days:
- Weekends, trading holidays, and settlement holidays.
Changing Timings:
- The timings for instant withdrawals are subject to change. The latest updates are available on the Console withdrawal page.
How to Place an Instant Withdrawal Request
Steps to Follow:
- Tap on Your User ID:
- Log into your Zerodha account and tap on your user ID.
- Navigate to Funds:
- Select the ‘Funds’ option from the menu.
- Select Withdraw:
- Tap on the ‘Withdraw’ button.
- Choose Instant:
- Tap on ‘Instant’ to initiate the instant withdrawal process.
- Enter Amount:
- Input the amount you wish to withdraw, ensuring it falls within the ₹100 to ₹1,00,000 range.
- Confirm Withdrawal:
- Tap on ‘Continue’ twice to confirm your request.
Detailed Breakdown and Tables
Timings and Limits for Withdrawals
| Type of Withdrawal | Availability | Minimum Amount | Maximum Amount |
|---|---|---|---|
| Instant Withdrawal | 9:00 AM – 4:00 PM on trading days | ₹100 | ₹1,00,000 |
| Regular Withdrawal | Any time | No restrictions | No restrictions |
Conditions Affecting Instant Withdrawals
| Condition | Impact on Instant Withdrawal |
|---|---|
| Orders other than CNC sell orders | Instant withdrawal unavailable |
| Funds added during the day | Cannot be withdrawn instantly |
| Non-trading or settlement holidays | Instant withdrawal unavailable |
| Post-sale proceeds availability | Next trading day after 11:00 AM |
Important Considerations
Fund Availability:
- Proceeds from sales are not immediately available for instant withdrawal. They can be withdrawn only on the next trading day after 11:00 AM.
Withdrawal Limitations:
- Ensure no orders, other than equity CNC sell orders, are active. This includes completed, cancelled, or partially filled orders in other segments.
Bank Restrictions:
- Instant withdrawals are not supported for certain banks. Users must ensure their primary bank account is eligible for this service.
Changing Timings:
- The availability of instant withdrawals might change. Users should regularly check the Console withdrawal page for the latest timings.
Advantages of Instant Withdrawals
Convenience:
- Instant access to funds provides flexibility and convenience, especially in urgent situations.
Efficiency:
- Reduces waiting time for fund transfers, which is beneficial for active traders and investors.
Enhanced User Experience:
- Provides a seamless and efficient way to manage trading funds.
Conclusion
Zerodha’s Instant Withdrawal feature is a significant enhancement for users, providing quick and convenient access to funds. By adhering to the specified conditions and timings, users can make the most of this feature to improve their trading and investment experience. For the latest updates and more detailed information, users should refer to the Console withdrawal page on the Zerodha platform.
By providing clear headings, detailed breakdowns, and comprehensive tables, this article aims to ensure users have a thorough understanding of the instant withdrawal feature and how to use it effectively.