Zerodha co-founder Nithin Kamath announced on Thursday (May 30, 2024) via X that the brokerage firm now offers an instant withdrawal feature on its app, allowing users to withdraw up to Rs. 1,00,000 per day instantly.
Kamath also informed users that the withdrawal window will be open from 9:00 am to 4:00 pm throughout the week.
Now users can transfer money from their Zerodha account to their primary bank account instantly by using the instant withdrawal feature.
“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 a post on X.
Points to Remember While Withdrawing on Zerodha App
- Instant withdrawals are available once daily from 9:00 AM to 4:00 PM, weekends included.
- Regular withdrawals have no time restrictions.
- Withdrawal requests must be between Rs. 100 and Rs. 1,00,000 per day.
- Only Cash and Carry (CNC) sell orders are eligible; no other order types or positions are allowed.
- Instant withdrawal isn’t possible for same-day deposits.
- Instant withdrawal may be unavailable if there are canceled orders in other segments.
- Funds from the previous day’s sales won’t be included in the withdrawable balance on settlement days, trading holidays, or weekends.
- Paytm Payments Bank doesn’t support instant withdrawal.
Steps to Initiate Instant Withdrawal
- Tap your user ID.
- Select “Funds.”
- Click on “Instant.”
- Enter the amount, minimum Rs. 100 up to Rs. 1,00,000.
- Tap “Continue” and then “Confirm.”
Also Read: Zerodha co-founder Nikhil Kamath says Urge to Have Kids to be Remembered After Death is Pointless
The instant withdrawal feature offers traders more flexibility, especially for those needing quick access to funds for reinvestment or other needs. Company is revolutionizing the brokerage industry by removing typical withdrawal waiting times.
Zerodha’s forward-thinking strategies and customer-friendly policies have consistently positioned it as a leader in the Indian brokerage market.
This new feature enhances user experience, reflecting Zerodha’s commitment to providing innovative solutions that adapt to evolving financial technology and user needs.
Also Read: How to track all your Mutual Fund investments
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Disclaimer: The above content is for informational purposes only. Please consult a SEBI-registered investment advisor before investing.
