You can use the eMandate facility to automatically transfer up to ₹1 crore at pre-set schedules from your bank account to your Zerodha account. You cannot use current bank accounts to create eMandates. Zerodha does not charge for eMandate registrations or transactions. However, if a transaction fails due to insufficient funds, your bank may charge a penalty.
Creating an eMandate
Follow these steps to create an eMandate:
-
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.
Creating a schedule
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.
