Zerodha Fund House Introduces 24x7 Instant Withdrawal Facility On the Zerodha Overnight Fund
Zerodha Fund House has enabled a 24x7 instant withdrawal facility on the Zerodha Overnight Fund that allows investors to access money within minutes, even on weekends and bank holidays.
The Zerodha Overnight Fund is a low-risk mutual fund designed to invest primarily in government-backed securities with a 1-day maturity, aiming to provide an efficient way to manage short-term funds with a relatively low interest rate and credit risk.
Through the 24x7 instant withdrawal feature, investors holding units in Statement of Account (non-demat) mode can redeem up to the lower of ?50,000 or 90% of their investment value per day. Withdrawals can be initiated through Zerodha Fund House’s official WhatsApp channel, with funds credited directly to the registered bank account instantly.
Vishal Jain, CEO, Zerodha Fund House, said, “Overnight funds are commonly used to park short-term surplus money and timely access to these funds is important for investors. The 24x7 instant withdrawal facility makes it easier to use mutual funds for everyday cash needs, while retaining the simplicity of an overnight fund.”
The daily limit resets every day, allowing investors to meet short-term cash needs as they arise while regular redemptions continue to follow the standard process. With no exit load and a low minimum investment requirement, the fund offers flexibility for managing idle cash in savings accounts.
Above views are of the author and not of the website kindly read disclaimer
