Currently, the withdrawal process at Upstox takes considerable time. There is a day end brokerage cycle and billing process, based on which the final balance is calculated and then the payout is processed. This entire process takes over 24 hours if a withdrawal request is placed during market hours.
However, with our instant withdrawal facility, offered free of charge to customers, you can withdraw funds in under 15 minutes after placing a withdrawal request.
This is subject to the below criteria:
As per SEBI, you can only withdraw funds after the settlement is done. You may refer to the following link to know about settlement cycle.
You should not have any pending withdrawal requests.
You cannot withdraw more than what you have in your Upstox account.
This is only available if one has activated IMPS on your bank account.
On any trading day, the feature can be used between 10:00 am to 6:00 pm (Monday - Friday).
Features would not be available for use on trading or settlement holidays.
Fund withdrawal limits are between ₹100 to ₹2 lakh per day, including both securities and commodities wallet.
You should not have any open and/or closed orders in their Trading and Mutual Fund account.
In case you places more than one withdrawal request over and above ₹2 lakh and on non-trading days, the request will follow the standard withdrawal process, check the withdrawal TAT.
Used margin shows you the total amount that you have utilised, against any open or closed positions which needs to be zero, in order to place an instant withdrawal request.
You can’t retry until the current instant withdrawal request is open.There is no limit on the number of withdrawal transactions for Instant withdrawal.
Once withdrawal is processed successfully you will receive a SMS and email as a withdrawal confirmation message.