In March 2018, Zerodha has launched a Unified Payment Interface (UPI) enabled fund transfer facility. It is the most convenient method to add money from the linked bank account to Zerodha trading account instantly. The discount broker allows free UPI-based fund transfer up to the daily limit of Rs. 1 lakh at zero charges. Check out Zerodha UPI fund transfer process, features, charges, limit, and more.
Zerodha UPI ID
UPI is an instant payment mechanism developed by the National Payment Corporation of India (NPCI) that allows users to instantly transfer funds between two parties' bank account. Zerodha customers can create a UPI ID on any BHIM UPI app and add funds to their Zerodha account using the linked bank account. Google Pay, Phone Pe, etc. UPI ID can be used to add funds to the Zerodha trading account.
Zerodha UPI Fund Transfer Features
Funds are transferred instantly using UPI.
Zero-cost fund transfer through UPI.
Real-time fund transfer.
Apply IPO online with Zerodha using UPI for free.
Customers can transfer upto Rs. 1 lakh per day to the Zerodha account.
The UPI facility is available on the Kite web as well as Kite mobile app.
Zerodha Fund Transfer using UPI
To add money using UPI, all you need to have is a registered UPI ID that must be linked with the same mapped bank account in your trading account. Zerodha Kite (web and mobile app) platform allows UPI-enabled fund transfer (Deposit and withdrawal).
Steps to add funds in Zerodha through UPI:
Login to the Zerodha Kite.
Click on the “Funds” tab and tap on the “Add Funds” option.
Once clicked, a new window will open. Select UPI as a payment mode and enter amount, segment (Equity/Derivatives/Currency or Commodity), bank account, and UPI ID.
Make sure that the UPI is linked to the registered bank account with your trading account. Once details are entered, press the “Continue” button.
Notification of payment collect request will be sent to the provided UPI address. Check the UPI app and enter the UPI PIN to accept the payment request.
Once done, the Zerodha payment page will display a confirmation message that the funds are transferred successfully to your account.
Zerodha UPI Fund Transfer Charges
Free, yes, you heard it right, adding funds to Zerodha trading account using UPI is free for all clients as they are not charged with any brokerage fee. UPI transfers funds instantly and it immediately reflects into your Zerodha account.
Zerodha UPI Fund Transfer Limit
The fund transfer limit through UPI is Rs. 1 Lakh means customers can transfer maximum of Rs. 1 lakh per day. However, one can add maximum of Rs. 25000 each transaction.
BHIM / UPI ID is a unique identifier (like email id) created by you which is mapped to your bank account and can be used to send or receive payments in BHIM / UPI system. For exampe - [email protected] where "abc" is a unique name.
No, users cannot add funds directly using BHIM UPI App to the trading account. All the fund's payment requests can be placed only through the Kite web and mobile app and then the request needs to be accepted by the user.
Yes, Zerodha facilitates its customers to add funds to their trading account through the UPI payment gateway. Users just need to create a UPI ID on BHIM UPI App and go to the Add funds user interface on Kite to add funds to your account. The best part is that it allows free fund transfer using UPI on your mobile phone.
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