In India, thousands of investors buy and sell securities on daily basis. To make this process systematic and hassle-free the National Security Depository Limited (NSDL) and Central Depository Security Limited (CDSL) has introduced the Demat account. Through Demat account, they can store and manage their securities, share and bonds, mutual funds, and other assets as well.
Demat account has filled the gap between the buying and selling of security or assets and the revenue earned from their sale. Now through the Demat account, it is possible to exchange cash from the sale of securities or add money to purchase stocks easily.
Steps to Transfer Money From Demat account to Bank Account
Step 1: login into your trading account through your trading account credential.
Step 2: From the list of available options find the Fund Tab.
Step 3: Two options will appear, One- Add Fund, Second- Withdraw Funds.
Step 4: Click on the Withdrawn Fund.
Step 5: The total available account balance will appear on the screen.
Step 6: After selecting the bank, Enter the amount you want to transfer to your bank account. Remember the share you sold today will reflect in your account after T+2 ( trading date plus 2 days ), it means you cannot withdraw the fund before that.
Step 7: Enter your online trading password and Verify an OTP to authorize the transaction.
Step 8: Within 2 business days the amount will be credited to your bank account.
Transferring funds from a demat account have become much easier, safe, and convenient. For your better understanding of the fund transition process, we have explained the procedure of how to transfer money from the demat account to the bank account. We hope all the questions regarding how to transfer money from the demat account to the bank account have been answered.