To withdraw money from your Zerodha trading account, you need to place a withdrawal request by logging into Zerodha Console. Withdrawal of money is completely free. As per regulations, the withdrawal money will be credited only to the bank account which is mapped with Zerodha.
1.First, you have to log in by entering ID and password, to the Zerodha console.
2.Once the dashboard will open. Click on the ‘Funds’ tab and select ‘Overview’, you will get the option of "Withdraw" on the right side.
3.After the new box is open, enter the amount you wish to withdraw in the "Withdrawal Amount" section and click on the "Proceed" option. The minimum amount you can withdraw is Rs.100.
4.After proceeding your amount will be transferred to your registered bank account.
5.Inside the "Recent withdrawal" option, you are able to see your previous withdrawal details also.
6.Additionally, this same process is applicable for mobile as well. On your mobile browser, open Console and enter the withdrawal amount then click proceed to place a withdrawal request.
1.You can place all the equity, F&O, and currency withdrawal requests before 8:30 PM, Monday to Friday, which is processed on the same day, and then credited to your financial balance within 24 hours.
2.You can place all the commodity fund withdrawal requests before 9:00 PM, Monday to Friday, which is processed the same day.
3.Money withdrawal requests are not processed on weekends i.e. Saturday and Sundays. Thus any request put on weekends will be processed only by Monday evening. Due to the COVID-19 pandemic, pay outs have been stopped being processed on Saturday, and shall be resumed once the situation gets normal.
Stock holdings funds are sold, and the profit of the intraday gets added to your withdrawal balance after two working days. F&O positions and F&O profits funds will get added to withdrawal balance after one day since in India the exchange follows a rolling settlement cycle. For example, If on Monday you sell your stocks, the funds which you received from the sale of respective shocks can be withdrawn only by Wednesday evening.
Note: Equity profits of Intraday will be available for withdrawal on T+2 (Trade day +2), and Intraday F&O profits will be available for withdrawal on T+1.
In the derivative, settlement trading cycle is T+1, If you close your derivative position on Monday then you will be able to withdraw the proceeds (MTM, margins) on Tuesday evening.
Zerodha fund withdrawal payout can be done only once in a day. Instance funds withdrawal is not possible. At the end of the day withdrawal file will generate after the trade process and calculation of clear balance in your respective account. This is the principal cause that maximum brokers do the only EOD payout.
DP charges apply if you sell shares from your demat account. This is an income source for depositories (CDSL or NSDL) as well as its Depository participants (Stock brokers). DP charges are applicable only one time per scrip in a single day irrespective of the quantity you actually sell.
You can download the account closure form the given link - Demat Account Closure Form and post it to the address mentioned in the form.
Yes , NRI can invest in Mutual Funds in Zerodha by opening a non-PIS account. However, there are restrictions for NRI investors with PIS accounts, as well as investors based in the US and Canada; they are not permitted to invest in mutual funds in Zerodha.
You wish to know if Paytm Money is better that Zerodha or it's the other way round. Zerodha being a leading discount broker in India has been there for overe a decade now. While Paytm Money already established in mutual fund investment arena, but a fairly new entrant in stock broking industry. So, let's compare the features and discuss few details on each of them.
Angel Broking and Paytm Money both these platforms are popular among traders. But if you are a beginner or if you want to switch to a new trading platform and you are considering choosing one of these two, and then you came to the right place.
Discount brokers have gained a lot of popularity in the past couple of years. Zerodha is currently India's largest and most trusted discount broker which is also the best option for beginners. It has all the necessary qualities required for a good broker like low commissions, low-maintenance charges, high-quality trading terminal, etc.
You might have read about different stock brokers in India. Here I'll review two of the most popular discount brokers in India: 5Paisa v/s Zerodha Comparison.
Paytm has added its name to the stockbroking industry all through its new platforms “Paytm Money.” The platform was rolled out to customers earlier in September 2020 and had since then exploded amongst traders/investors to see the offerings set up by the company.
Trade Smart demat account cannot be closed online. To close Trade Smart demat account, fill out the Trade Smart demat closure form and then courier it to the office address of Trade Smart.
To open a Paytm Demat Account you do not need to make a lot of efforts. You can simply do it online which spares you from standing in a long waiting queue in the branch of the broker house. These days online and offline account opening has become all the more easy.
Harshil Patel
Zerodha making life easier for traders to withdraw funds from their accounts. You can do so via the "funds" option on your Zerodha account and place a withdrawal request. But ensure that you have all dues and penalties (if any) cleared; if not, the request might be canceled.