How to Link a Bank Account While Opening a Zerodha Account?

Last Updated: Mar 19, 2024 Value Broking 2 Mins 2.9K

Below are the steps on how to link a bank account while opening a zerodha account.

The bank account details will be immediately obtained if the client’s bank account is connected to a UPI and the account opening cost is paid using it. You must first clear the current bank details if the payment was made using a method other than UPI or if you want to link a different bank account. Below are the steps on how to link a bank account while opening a Zerodha account. 

Step 1: Enter the IFSC (Indian Financial System Code) of your bank.

Step 2: Select the MICR (Magnetic Ink Character Recognition) from the drop-down menu¹.

Step 3: Enter your bank account number.

Step 4: Confirm your bank account number.

Step 5: Click on “Continue” to proceed.

Step 6: Validation Process:

If the bank account details are manually entered, the validation is conducted using a penny drop score. A penny drop involves crediting a nominal amount to the bank account to generate a score.

Step 7: Uploading Bank Proof (if necessary):

If the penny drop validation fails or if the score is unsatisfactory, you will need to upload a bank proof in the next step.

Acceptable bank proofs include:

  • A personalized canceled cheque with the name printed on it.
  • A bank statement.
  • A bank passbook copy displaying the bank account number, bank logo, seal, MICR, and IFSC code clearly visible.

By following these steps, you can easily link your bank account while opening a Zerodha account. Ensure all information provided is accurate to facilitate a smooth account opening process.