How to set up automatic fund transfers from a bank account to a Zerodha trading account?
The eMandate facility can be used to automatically transfer up to ₹1 lakh at pre-set schedules from the bank account to the Zerodha account. Current bank accounts cannot be used to create eMandates. To create an eMandate, follow these steps:
- Visit console.zerodha.com/funds/mandates and click on Create a new mandate.
Select the account for which the mandate is to be created.
- Authenticate the bank account using a debit card or netbanking.
- Follow the on-screen instructions to complete the process on the bank’s mandate approval gateway.
Once the mandate is registered, create a schedule to transfer funds to the Zerodha account.
It may take up to 5 days for the bank to activate the mandate.
Follow these steps to create a schedule:
- Name the schedule.
- Select fund transfer date.
- Select frequency and the amount to be transferred.
- Click on Create schedule.