The bank account can be linked either using UPI or the bank IFSC while opening a Zerodha account.

Link using IFSC

1. Enter the IFSC.
2. Select the MICR from the drop-down menu¹.
3. Enter the bank account number.
4. Confirm the bank account number.
5. Click on Continue.

Link using UPI

1. Enter the Virtual Payment Address (VPA) or UPI ID.
2. Accept the terms and conditions.
3. Click on Verify UPI-ID.
4. Click on Continue.

The IFSC and UPI ID are validated with the bank records using a penny drop score. A penny drop is where a nominal amount is credited and debited from the bank account, generating a score.

If the penny drop fails or if the score is unsatisfactory, a bank proof must be uploaded in the next step. The bank proof can be one of the following: A personalised cancelled cheque with the name printed on it, a bank statement, and a bank passbook copy with the bank account number, bank logo, seal, MICR, and IFSC code clearly visible.

If the UPI ID validation fails, the below error message is displayed. Clients must then validate the bank account using an alternative UPI ID or the IFSC code.

Notes

¹The MICR may not be in the drop-down menu for the following reasons:

• Entered zero instead of O in the IFSC or vice versa.
• The IFSC is not valid.
• The IFSC is not part of Zerodha's records. Clients must create a ticket along with bank proof in this case. The bank details will be updated within 72 working hours. Clients can link the bank account once the IFSC is updated.

Did you know?

• A current bank account can be linked to a Zerodha account as both a primary and secondary bank account, provided the names in the Zerodha account, PAN, and bank account match. To learn more, see Can a current bank account be linked to a Zerodha account?
• An Overdraft (OD) bank account cannot be linked with Zerodha. To learn more, see Can an Overdraft (OD) bank account be linked with Zerodha?