Great news for Zerodha Demat account holders! You can now withdraw up to ₹25,000 instantly using the Zerodha Instant facility. The withdrawn amount will be transferred to your bank account using the IMPS service and will be credited instantly.
If you are a Zerodha user, you might be aware that earlier, you only had the option of NEFT to withdraw funds from your Zerodha account. However, it used to take at least 24 hours for the money to get credited to your bank account.
Suppose you need money urgently for some reason, but you are unable to withdraw money from your Zerodha account instantly. It may take up to 1 working day to receive the money in your bank account. However, there’s no need to worry anymore. With the Instant Withdrawal facility, you can withdraw money from your Zerodha account instantly. Read also: How to update Zerodha Account Mobile Number online
Withdraw Funds From Zerodha Account Instantly through IMPS
Before you proceed, let me tell you some features of Zerodha Instant Withdrawal:-
- You can withdraw Max ₹25,000 from your Zerodha Account
- Money will be sent through IMPS and credited to your bank account instantly
- You can place a withdrawal request between 10:15 AM to 3 PM during market hours
- You can’t use Instant Withdrawal if you have any open position
Now let’s see step by step process on how to withdraw money with Zerodha Instant:
(Step 1) Login to Kite Application, go to Profile and tap on the “Funds” section.
(Step 2) In the Funds section, tap on the “Withdraw” option to place a withdrawal request.
(Step 3) Next screen, enter the amount (Max 25,000), select the “Instant (Max 25,000)” option and press the continue button.
(Step 4) Next screen you can view your credit account number. Money will be transferred to this Bank account. Tap on the confirm button.
(Step 5) Congratulations! Your Instant Withdrawal request has been processed successfully and your funds have been sent to your bank account via IMPS.
You can now check your bank account statement to determine whether the amount has been received or not.
As I mentioned earlier, please ensure that there are no open positions in your Zerodha account. If you have any open positions, you won’t be able to use the Zerodha Instant Withdrawal feature. As you can see in the screenshot below, I have an open position, which means I am unable to place an Instant Withdrawal request in my Zerodha account.
I hope you now understand how to use the Zerodha Instant Withdrawal facility, which allows you to withdraw funds instantly through IMPS. If your withdrawal amount is above ₹25,000, you can use the regular option instead. With the regular withdrawal option, your money will be sent through NEFT and credited to your bank account within 1 working day.