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.
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Published: 30 May 2024, 04:21 PM IST
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