Does Zerodha have a minimum deposit requirement as of February 2024?
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It's great that you are looking for deposit options at Zerodha to take charge of your finances. We would encourage you to carry on! Your future self will be grateful to you.
There are several ways to start your journey, let's walk through the options together!
To give you a brief summary: Zerodha is one of the biggest discount brokers in India. It is regulated by the SEBI.
I've thoroughly tested Zerodha services with our analyst team by opening a real-money account and these are my most important findings:
- The minimum deposit at Zerodha is $0
- Zerodha charges $0 for deposits
- You can only deposit funds from accounts that are in your name
- Visit Zerodha's page to start the process
- Zerodha is a reliable broker regulated by at least one top-tier regulator
First, let's see if Zerodha is available in your country?
Is Zerodha safe?
To trust your money with a broker, you need to be sure that the broker is considered reliable. BrokerChooser only recommends regulated brokers, meaning the broker's operations are overseen by a trusted body.
Zerodha can be considered a legit broker, as it is overseen by at least one top-tier regulator, which is a great sign for reliability.
For you, this means that your money is in good hands and you will be able to access your funds.
What is the minimum deposit at Zerodha?
At Zerodha, the minimum deposit is $0. This means that you can deposit as little money as you wish.
After you have completed the registration and verification process, you need to fund your account to start trading.
Brokers that don't require a minimum deposit do so to encourage people to try their services without requiring a large initial commitment.
Here's a tip: don't worry if you decide to switch brokers after depositing. You can always opt out and withdraw your funds.
Also, at Zerodha, there is no inactivity fee. This means that you won't be charged any fee, if you decide not to use your account in the future.
What base currencies are available at Zerodha?
At Zerodha, the only available currency is INR. Try to deposit money to your brokerage account in INR, otherwise you will be charged a conversion fee.
To avoid high conversion fees, consider opening a multi-currency account at a digital bank.
What deposit methods are available at Zerodha?
At Zerodha, you have multiple options to choose from when you want to deposit money to your account. These options are the following: Bank transfer, UPI.
All these options are great, choose the most convenient one for you to be able to start trading. And remember, you can only deposit funds from accounts that are in your name.
There is also a difference in average transfer time for different deposit methods. While credit/debit card and e-wallet transfers are usually instant, bank transfers may take 2-3 business days to arrive.
Deposit options | Zerodha |
---|---|
Bank transfer | Yes |
Credit/Debit card | No |
Electronic wallet | Yes |
Is there any deposit fee at Zerodha?
The answer is no. No deposit fees will be applied at Zerodha.
This is great because the broker won't deduct anything from your deposits, and you only have to calculate with the costs charged by the bank, or other third-party financial service you send the money with.
How to deposit money to Zerodha account?
Here's a step-by-step guide:
- Log in to Zerodha's client area
- Look for 'Deposit' or 'Funding menu'
- Choose your funding method
- Provide the necessary details for the transaction
- Check if the payment details are correct
- If you are OK with it, you are ready to proceed
If you get stuck during the process, you can always reach out to Zerodha's customer support. At Zerodha, customer support can be reached via phone and email.
Wrap-up
It is awesome that you have read through this article! We know that depositing can be frustrating, but you are on the right track, and it is okay to ask for help if you are unsure about something.
If you are stuck somewhere, have a question, or a suggestion, please drop a message on our Forum.
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.