To add funds for US stock investing, you must transfer money from your registered Indian bank account to your USD Global wallet via netbanking through supported partner banks. To withdraw funds, submit a withdrawal request from the Global stocks section on the funds page on Kite, and the amount will be credited directly to your registered bank account.
Steps to add funds to your Global wallet
- Log in to Kite.
- Go to Funds and select Global stocks.
- Enter the amount you want to transfer in Indian Rupees (INR) or US Dollars (USD).
- Complete the transfer using netbanking from your linked bank account.
Currently, only netbanking from supported partner banks can be used. Unified Payments Interface (UPI), debit cards, and credit cards are not supported.
Exchange rate and conversion charges
When you add funds to your Global wallet, your bank converts your Indian Rupees (INR) into US Dollars (USD). Instead of using the Reserve Bank of India (RBI) reference exchange rate directly, banks apply a small markup over it while converting your money.
Zerodha has negotiated a currency conversion markup of 0.5 to 1.2% above the RBI reference rate. Apart from the exchange rate markup, your bank also charges Goods and Services Tax (GST) on the currency conversion fee, which varies based on the amount:
- From ₹1 to ₹25,000 = ₹45
- From ₹25,001 to ₹1,00,000 = 0.18%
- From ₹1,00,001 to ₹10,00,000 = 0.09%
- Above ₹10,00,000 = 0.018%
These are bank charges and cannot be claimed back while filing your Income Tax Return (ITR).
Supported partner banks and transaction limits
Fund transfers are processed through five partner banks. Transaction limits apply across all five banks:
| Bank | Minimum limit | Maximum limit per transaction |
|---|---|---|
| HDFC Bank | USD 50 | USD 50,000 |
| ICICI Bank | USD 50 | USD 100,000 |
| IDFC FIRST Bank | USD 50 | USD 25,000 |
| Axis Bank | USD 50 | USD 45,000 |
| Kotak Mahindra Bank | USD 50 | USD 50,000 |
The USD 50 minimum applies to your first transfer. All following transfers require a minimum of USD 100.
Fund addition processing timelines
Foreign remittances require processing through authorised banking channels under the Reserve Bank of India (RBI):
- Transfers initiated before 2:30 PM IST: Generally processed and credited to your Global wallet within 2 working days.
- Transfers initiated after 2:30 PM IST: Processed on the next working day and take up to 3 working days to reflect in your wallet.
Steps to withdraw funds from your Global wallet
- Log in to Kite.
- Navigate to Funds and select the Global stocks tab.
- Enter the withdrawal amount in USD from your withdrawable balance and submit your request.
Fund withdrawal timelines
- Requests submitted before 1:30 PM IST: Processed on the same working day.
- Requests submitted after 1:30 PM IST: Processed on the next working day.
- Bank credit: Once the withdrawal is processed, funds are converted back to Indian Rupees (INR) and credited to your registered primary bank account within one working day.
Things to keep in mind
- All transfers are made under the Liberalised Remittance Scheme (LRS), which permits resident Indians to remit up to $250,000 across all foreign transactions combined in a financial year (1 April to 31 March).
- Tax Collected at Source (TCS) of 20% applies only when your cumulative foreign remittances exceed ₹10 lakh in a financial year. You can adjust this TCS against your advance tax or claim it as a refund when filing your Income Tax Return (ITR).
- Currency conversion for adding funds incorporates a 0.5% markup over the RBI reference rate, and your bank may levy outward remittance processing fees and 18% GST on the conversion charge.
- You can hold uninvested funds in your Global wallet for up to 180 days. If no trades occur within this rolling 180-day window, the unused balance is automatically settled back to your bank account.
- For a detailed breakdown of everything from getting started and fund transfers to tax returns and compliance, refer to the complete guide for US investing in Zerodha.