If you have a Zerodha Demat account, you can now instantly withdraw funds from your Demat account and transfer them to your bank account through IMPS using the Zerodha Instant Facility.
Now you don’t have to wait for 24 hours to receive your funds in your bank account. You can now get your money within a few seconds via IMPS.
What is Zerodha Instant Withdrawal?
Previously, Zerodha offered regular withdrawal options where funds were transferred via NEFT, taking a day to credit to your bank account.
However, Zerodha has now introduced an Instant Withdrawal feature, allowing you to instantly withdraw up to INR 25,000 through IMPS (Immediate Payment Service). With this new facility, your funds will be credited to your bank account within seconds.
This is especially useful when you need urgent cash from your Zerodha Demat account, as the Instant Withdrawal feature lets you quickly withdraw your funds from your account.
How to Withdraw Funds Using Zerodha Instant Withdrawal
(1) Open and login to your Zerodha Account (Kite Application) and go to the “Funds” section where you can add/withdraw funds.
(2) To withdraw money from your Zerodha Account using Instant, tap on the “Withdraw” option.
(3) Next screen, select the “Instant (Max. 25,000)” option and enter the amount below INR 25,000. Tap on the continue button.
(4) Next screen confirm your withdrawal request. You can see your credit bank account. If you want to transfer this money to a new bank account then you need to add a new bank account.
(5) You have successfully withdrawn funds using Zerodha’s Instant Withdrawal facility, and the funds have been credited to your bank account.
(6) You can log in to your mobile banking or net banking to check your recent transaction details and see if the money has been credited to your account.
Terms and Conditions for Zerodha Instant Withdrawal
Please note that there are some limitations for Zerodha’s instant withdrawal facility that you should be aware of:
- You can withdraw up to 25,000 through Instant Withdrawal
- Timing for Instant Withdrawal is between 10:15 AM To 3 PM
- Make sure there are no open positions in your Demat account; otherwise, you can’t use this facility.
- There are no charges for Zerodha Instant.