How Much Time Does It Take to Process a Withdrawal Request with Sharekhan?

Last Updated: Mar 19, 2024 Value Broking 3 Mins 2.3K

One of the top stockbrokers in India, Sharekhan is well-known for its investment products and online trading services. Understanding the average processing periods for withdrawal requests is crucial if you have invested in the stock market through Sharekhan and are thinking about making a withdrawal. You may manage your expectations when it comes to using your money by using this knowledge to organize your budget better.

Typical Processing Time for a Withdrawal Request with Sharekhan

For equity withdrawals (stocks and shares), Sharekhan typically processes the request within 1 to 2 business days from the date of receipt of the request.

For cash withdrawals (funds in your trading account), Sharekhan aims to process the request within 24 to 48 hours. However, it might take a few additional days for the funds to reflect in your linked bank account, depending on your bank’s processing time.

If you have chosen to receive a check or demand draft, the delivery time may vary based on your location. Sharekhan usually dispatches such instruments through courier services, and it can take a few business days for you to receive them.

Several variables can affect how long it takes Sharekhan to process a withdrawal request. Sharekhan, however, usually follows a regulated procedure to guarantee the prompt disbursement of funds to their consumers. Here’s a breakdown of the key factors that can influence the processing time and the general timeline you can expect:

Speed up the Withdrawal Process

Consider the following suggestions to speed up the withdrawal procedure with Sharekhan:

Make sure that all of your documentation is accurate and current.
Have enough money in your trading account at all times.
For quicker processing, select electronic funds transfer (EFT) as your preferred withdrawal method.
Verify and validate the authenticity of your bank account information.
Plan out your withdrawal requests, especially if you need money right now.

Elements that can Affect the Withdrawal Process

The main elements that can affect the processing time and the overall schedule you may expect are broken out as follows:

1. Kinds of Withdrawal:

There are two different forms of withdrawals: equity withdrawals (stocks and shares) and cash withdrawals (funds from your trading account). These two sorts of withdrawals may require different amounts of processing time.

2. Choices for withdrawal

Sharekhan provides several withdrawal options, including electronic money transfer (EFT), cheque, and demand draft. Depending on the setting you select, the processing time may change.

3. Assurance

Verifying your bank account may be required by Sharekhan in order to link it to your trading account. If there are inconsistencies in the details provided, the verification procedure may take some time.

4. Documentation

Ensure that you have submitted all the necessary documents, such as Know Your Customer (KYC) details, bank account proofs, and other relevant paperwork. Incomplete or incorrect documentation can lead to delays.

5. Trading Fund Balance

The availability of funds in your trading account can impact the processing time. Ensure that you have the required balance to cover the withdrawal amount.

6. Market Situations

The overall market conditions and trading volume can influence the speed of processing. During periods of high market volatility or heavy trading activity, there might be delays in processing withdrawal requests.

Conclusion

The time it takes Sharekhan to process a withdrawal request might differ depending on a number of variables, including the type of withdrawal, the mode selected, the supporting documents, and market conditions. However, Sharekhan makes an effort to handle withdrawal requests quickly, often within a few business days.