How to Change Bank Account in Zerodha

In this article, I  will guide you through the step-by-step process of changing your primary or secondary bank account in Zerodha.

Zerodha charges Rs 25 + 18% GST for any kind of account modification.

How to Change Bank Account in Zerodha

• Step 1: Log in to Console.zerodha.com.
• Step 2: Click on the Account in the top bar.
• Step 3: Click on the Bank option in the left column.
• Step 4: Click on Modify bank account icon.
• Step 5: Enter the new bank account number, re-enter the bank account number, and IFSC code.
• Step 6: Accept the terms and conditions and click on “Proceed to e-sign” and then on “Sign now”.
• Step 7: Select the check box, enter the Aadhaar number, and click on Send OTP. 
• Step 8: Enter the OTP received on the mobile number and click on Verify OTP.

You can check out the quick video guide below to understand the above-mentioned steps –

It will take up to 48 hours to update the primary bank. You can link a maximum of three bank accounts to your trading account, one primary bank account and two secondary bank accounts.

How to Add a Secondary Bank Account 

You can add a maximum of 2 secondary accounts to your Zerodha trading account. You can use the secondary bank accounts only to add funds to the Zerodha account. You can withdraw the funds only to your primary bank account.

To add a secondary bank account, follow the steps below:

• Step1. Log in to console.zerodha.com.
• Step 2. Click on the Accounts tab in the top bar.
• Step 3. Click on the Bank option.
• Step 4. Click on the add bank account button.
• Step 5. Enter your bank account details, click on “I/ We hereby declare..” then select if you want to receive the OTP on your Email or Phone and click on Send OTP.
  
  You will see an option “set as primary”. If you choose the option, the new account will be linked as the primary account & the old bank account will secondary bank account.
  
  
• Step 6. Enter the OTP and submit.
  
  It will take around 48 working hours to process your request for adding a secondary bank account.

You can also check out our complete guide to pledge shares in Zerodha to resolve all your queries about pledging and unpledging of shares.

How to Remove Secondary Bank Account Linked with Zerodha Account

• Step 1. Log in to Zerodha Console.
• Step 2. Click on the Accounts tab.
• Step 3. Click on the Bank tab.
• Step 4. Click on the delete account icon adjacent to the account details.

• Step 5. Select whether you want to receive the OTP on your E-mail or Mobile and click on Send OTP.

• Step 6. Enter the OTP and click on Verify.

If you have opened a new Zerodha account, you can get your account details in the Zerodha CMR copy. Learn more on how to get the Zerodha CMR copy here.

How to Link Joint Bank Accounts With Zerodha Account

You can link a joint bank account in which you’re a primary account holder. The procedure is the same as linking a normal single-holder bank account.

If you are not the primary account holder then you need to courier the account modification form (available here) and one bank proof to Zerodha from 

• 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)

You need to follow the offline process and courier the necessary documents to change their primary bank account:

Account type	Documents required
An Individual account where a mobile number or email ID is not linked to Aadhaar.	Account modification form (PDF) and bank proof.
An Individual account linked with a proprietorship bank account	Account modification form (PDF), banker’s letter (PDF) and bank proof
Joint Zerodha account	Account modification form (PDF) and bank proof.
NRE and NRO -PIS account	Account modification form (PDF) and the bank proof
Non-individual accounts HUF, Corporate, Partnership, Limited liability partnership, AOP, Trust	Account modification form (PDF) and the bank proof

If you are linking a joint bank account as your secondary bank account where you’re not the first holder, you will have to create a ticket along with one relevant bank proof from 

1. Personalized Cancelled cheque (name printed on the cheque leaf)
2. Bank statement (with IFSC Code and MICR No.) (self-attested copy)
3. Bank Passbook statement (self-attested copy)

Bank Account that NRIs Can Link with their Zerodha Account

You can link the following banks for a Portfolio Investment Scheme (PIS) account (NRE-PIS, NRO-PIS).

• HDFC Bank
• IndusInd Bank
• IDFC FIRST Bank
• Yes Bank
• Axis Bank

For a Non-PIS account, an NRO account with any bank can be linked.

How to Setup eMandate Bank Account

You can schedule automatic fund transfers up to ₹1 lakh from your bank account to your trading account for your investments in stocks, ETF SIPs with eMangate. You have to register an eMandate with your bank before you can deposit the funds. 

Steps to setup automatic fund transfers 

• Step1 – Log in to Zerodha Console and click on the funds tab in the top bar.
• Step 2 – Click on “Bank mandates” and click on “Create new mandate”. 

• Step 3 – Select the account for which the mandate is to be created.

• Step 4 – Authenticate the bank account using a debit card or net banking. 

• Step 5- Follow the on-screen instructions to complete the process on the bank’s approval gateway.
• Step 6 – 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:

1. Name the schedule.
2. Select the fund transfer date.
3. Select the frequency and the amount to be transferred.
4. Click on “Create a schedule”.

You have to create a separate e-Mandate for investing in mutual funds on the Coin portal.

If you want to learn intraday trading, read our latest guide on how to do intraday trading in zerodha to understand the basics.

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