Zerodha Bank Account

There may be circumstances where an existing Zerodha client may need to add, update or even change their registered bank details. Well, it may sound overwhelming, but it is quite simple with the active Zerodha Bank Account. 

There is also a provision of opening a Zerodha 3 in 1 Account where your bank and trading account are inter-linked from the backend. Zerodha works with IDFC bank for this proposition.

You just need to decide if you want to do so online or offline. Here’s all you need to know about the Zerodha Bank Account.

Explained below is the information required for handling bank accounts linked to Zerodha. Dive In

Zerodha Bank Account Change

Do you wish to change the bank account linked with your Zerodha account? Here’s what you need to do.

Steps to change Zerodha bank account:

• You are required to submit the account modification form first. 
• A bank proof document is also mandatory. 
• Now, visit Zerodha’s website and go to the ‘Download & Resources’ section.
• Then, download the account modification form.
• Get the form printed and fill it accordingly. 
• Do not forget to sign in all the required places. 
• Attach the proof documents of your respective bank. It may include – bank statements or canceled cheque. 
• Send the duly filled form to Zerodha’s Bengaluru office.

---

Zerodha Bank Account Change Form

Let’s make things easy for you. No need to search elsewhere!

Download the Account Modification Form for the Zerodha bank account change and fill the essential field.

Zerodha offers a seamless provision to update the information thus offering customer-oriented services.

This makes it a leading discount broker in India.

---

Zerodha Change Primary Bank Account

If you have been planning on changing your primary bank account at Zerodha, well it is not as complex as you may assume. 

All you need to do is, simply send your new bank details to Zerodha. And yes, it is totally safe to do so as all your private info is governed by many regulations.

• First, download the primary bank account change form 234.
• Fill it and attest it with your signatures.
• Lastly, post it to Zeodha’s head office (along with relevant documents) to – 153/154 4th Cross Dollars Colony, opposite Clarence Public School, J.P Nagar – 4th Phase; Bangalore – 560078.
• Your supporting document may be a personalized, canceled cheque along with your name. 
• Or else, you may send a one-month bank statement if case you do not have a personalized cheque.

Any one of these is an accepted bank proof at Zerodha:- 

• Personalized Cancelled cheque (your name must be printed on the cheque leaf)
• A self-attested copy of bank statement with IFSC code and MICR number
• A self-attested copy of the bank passbook statement

A primary bank account can be changed online as well.

Just scan your personalized, canceled cheque or one-month bank statement and simply send the scanned copy here. 

An amount of ₹25+ 18% GST is charged by Zerodha for modification.

---

Zerodha Bank Account Details

Some banks do not allow money transfer money to the alphabet-identified accounts and restrict their addition as beneficiaries as well.

In such a scenario, you can use these alternative bank accounts:

Here is the Bank details for NSE/BSE (Equity, F&O, Currency)

Find the Bank details for MCX (Commodities) in the table below:

 

---

Zerodha Add Bank Account

You are authorized to link one primary bank account and up to two secondary bank accounts to your Zerodha account.

You can add a new bank account or change an existing account by sending the updated documents to Zerodha. You may do it offline by sending the hard copies as well as offline by emailing the scanned copies to Zerodha.

---

Zerodha Add Secondary Bank Account 

As an existing client of Zerodha,  you must have already added your bank details to your Zerodha account. This by default becomes your primary bank account.

If you wish to add another bank account, it will fall under the secondary account. 

There’s a simple procedure to do so i.e. sending/submitting a scanned copy of a personalized, canceled cheque or a one-month bank statement to Zerodha. 

This will link your desired bank account to your Zerodha account.

Important Note:

• MICR, IFSC along with the name of the account holder is mandatory in the canceled cheque or bank statement provided by you.
• The name of the account holder should be the same as the name registered in Zerodha account.

Now add a secondary bank account in just one click! You can raise a ticket at Zerodha to submit the required proof.

---

Zerodha Bank Account Fund Transfer

Zerodha offers trading platforms like Zerodha Kite and Zerodha Pi to transfer funds directly. These are instant payment gateways that facilitate easy fund transfer. 

Zerodha charges of ₹9 (plus taxes) for instant fund transfer. However, this facility is available to only about 25 Zerodha-registered banks. Click Here to view those banks.

Fund transfers, in general, are accepted from only accounts linked at Zerodha. Also, the fund value should be more than ₹ 1 to be updated on the terminal.

The time taken for funds to reflect depends on the method of fund transfer. Any delay in the funds may happen due to a fund transfer from an unregistered bank account. This can also happen if Zerodha hasn’t received your bank account details from the bank.

Refer below for the time taken for different fund transfers:

• NEFT/RTGS transfers may take 2 to 10 hours depending on your bank.
• IMPS transfers take about 10 minutes during market hours.
• Cheque transfers may take 3 to 5 working days.

---

Zerodha Bank Account FAQ

In what follows, listed are the top FAQ on Zerodha Bank Account.

#Can the Zerodha linked bank account be changed?

Yes, you can change the bank account linked to your Zerodha Account. Zerodha allows you to add 2 secondary bank accounts.

You can do so by emailing your relevant bank proofs namely – a photocopy of canceled cheque or self-attested bank statement to Zerodha.

To change your primary bank account, just download the account modification form, fill it duly and send the signed copy to Zerodha along with your bank proof.

#NRIs can link which banks to their Zerodha account?

You can link your trading account with an NRE or an NRO bank account. For this, Zerodha supports HDFC Bank as well as Axis Bank.

#How to check the bank account in Zerodha?

It may at times occur to you to review or simply view your bank account details linked with Zerodha.

You can view the details of all the linked bank accounts in the ‘Profile’ section. Just click on ‘Bank’ and all your primary and secondary bank details can be viewed. 

#How much does Zerodha charge for withdrawal?

Zerodha does not charge at all for withdrawing funds. You can place your withdrawal requests online and it takes about 24 hours for the funds to reflect in your bank account.

However, there are a few pre-requisites for withdrawing funds.

• Withdrawal related to equity, F&O, and currency must be submitted before 7 pm (from Monday to Friday).
• Commodity withdrawals must be submitted before 9 am ( from Monday to Friday).
• Withdrawal requests placed after Friday are processed on the next working day.

#How to link multiple bank accounts in Zerodha?

Zerodha allows 1 primary and 2 secondary bank accounts, thereby allowing you to have Zerodha Multiple Accounts.

The bank proof and details submitted while opening an account at Zerodha automatically become your primary bank account.

In a primary bank account, you may add funds as well as make withdrawals. While through a secondary bank in Zerodha, you can only add funds to the account.

To add/link a secondary bank, send the following proofs to Zerodha:

• A personalized, canceled cheque with your name printed on it
• Your self-attested bank statement with IFSC & MICR code.
• A copy of your self-attested bank passbook

It takes about 24 hours (after submitting the bank proof) for the secondary bank account to be linked to your Zerodha account.

#Can we add a relative’s/friend’s bank account to the Zerodha Account?

The answer is no. As per the SEBI rules, only the bank account in the name of the Zerodha account holder can be linked to their trading account.

Other than that, no relative’s, friend’s or acquaintance’s bank details shall be accepted by Zerodha.

#How long does it take to change the Zerodha primary bank account?

After you have sent the hardcopy of the required documents (account modifications form, personalized canceled cheque/ one-month bank statement) to the Zerodha headquarters, it may take one or two days.

To be precise, after receiving your documents, Zerodha will take about 24 to 48 working hours to update the details of your primary bank account.

---

Enter Your details here and we will arrange a FREE Call back.

 

More On Zerodha
In case you are looking to know more about this discount broker, here are some reference articles for you: