Zerodha Fund House has launched a new 24×7 instant withdrawal feature for its Zerodha Overnight Fund to make investing more convenient for users.
With this facility, investors can withdraw money within minutes, even on weekends and bank holidays.
About Zerodha Overnight Fund
Zerodha Overnight Fund is a low-risk mutual fund that mainly invests in government-backed securities with a maturity period of just one day.
It is designed for short-term money management and carries lower interest rate and credit risk compared to many other mutual funds.
Daily Withdrawal Limit Explained
Under the new 24×7 instant withdrawal facility, investors holding units in Statement of Account (non-demat) mode can withdraw up to 90% of their investment value or a maximum of ₹50,000 per day, whichever is lower.
The withdrawn amount is instantly credited to the investor’s registered bank account.
How to Withdraw Money Using WhatsApp
Investors can place an instant withdrawal request through the official WhatsApp channel of Zerodha Fund House by following these steps:
Send “Hi” to Zerodha Fund House’s WhatsApp number: +91-9845335486
Select the “Track & Invest” option
Choose the “24×7 Instant Withdrawal” option on the home page
Enter an amount within the permitted withdrawal limit
Verify the request using the OTP sent to your registered mobile number or email
Once verified, the amount is credited to your bank account within a few minutes
This facility is available only for units held in non-demat mode and without any restrictions such as pledge or lock-in. Currently, only resident individual investors can use this feature.
Benefits for Investors
Vishal Jain, CEO of Zerodha Fund House, said that overnight funds are commonly used to park surplus money for short periods, making quick access to funds very important.
He added that the 24×7 instant withdrawal facility helps investors use mutual funds for everyday cash needs while keeping the simplicity of overnight funds.
The daily withdrawal limit resets every day, allowing investors to manage short-term cash requirements whenever needed. Regular redemption requests will continue as per existing procedures.
With no exit load and a low minimum investment requirement, Zerodha Overnight Fund offers investors a flexible way to manage idle money that would otherwise remain in savings accounts.
