How can I change my primary bank account?
The option to modify the primary bank online is only available for Resident Individual account holders. Once you place the request, it takes 24 to 48 hours for mapping the new primary bank. Your previously linked primary bank account will be linked as a secondary bank account.
You will be able to modify your primary bank account online if your mobile number is linked to your Aadhaar. If it isn't or if you hold a non-individual account (HUF, Corporate, or Partnership), you can use the offline process explained below.
Accepted bank proof can be ( any one of the following):
- Personalized Cancelled cheque (name printed on the cheque leaf)
- Bank statement (with IFSC Code and MICR No.) (self-attested copy)
- Bank Passbook statement (self-attested copy)
The charge for both online and offline modifications is Rs 25 + applicable GST and is posted on your ledger .
Note: Ensure that the bank account is in your name when updating the primary bank account. If you are linking a joint bank account as your primary bank account where you are not the first holder, you will have to do it offline.
You can have a maximum of three bank accounts linked to your trading account, one primary bank account and two secondary bank accounts. If you already have three bank accounts linked and wish to change the primary bank account, you have to first remove a linked bank account as mentioned under How do I remove my secondary bank account linked with my Zerodha account? and then change your primary bank account.
The dividends and other corporate action benefits for your holdings are transferred to your primary account since it is mapped to your demat account. Accordingly, depository regulations require us to collect either an e-sign or a physical signature to map either linked or new bank accounts as primary.