To update or add a new bank account on Upstox, ensure you have one of the following documents ready as proof of the bank account:

1. Cancelled Cheque

The cancelled cheque must meet the following criteria:

  • It should display the account number, account holder’s name, IFSC, and MICR code.
  • The cheque must be self-attested.

2. Bank Statement

The bank statement must include:

  1. The bank’s logo or stamp.
  2. Your name.
  3. The bank name.
  4. Your bank account number.
  5. The IFSC code.
  6. The MICR code.

Please Note:

  • The statement must be the latest.
  • Mini statements or mobile-banking statements are not accepted.
  • NRI bank accounts are not accepted as proof for individual resident accounts.

3. Passbook

The passbook should meet the following requirements:

  • Submit the front page with the bank’s stamp or logo.
  • It must display:
    1. Your name.
    2. The bank name.
    3. Your bank account number.
    4. The IFSC code.
    5. The MICR code.

4. Payments Bank

You can link a Payments Bank account to Upstox by providing proof from the following Payments Banks:

  • Airtel Payments Bank.
  • India Post Payments Bank.
  • Jio Payments Bank.
  • NSDL Payments Bank.

To link these accounts, submit any of the following:

  • Cancelled cheque.
  • Bank statement.
  • Passbook.

Additional Notes for Payments Banks:

  1. The same requirements for cancelled cheques, bank statements, and passbooks from traditional banks apply to Payments Banks.
  2. If submitting proof from a Payments Bank as income proof, also provide a 6-month statement with transaction details.
  3. Ensure that uploaded documents are not password-protected.
  4. If the uploaded document is invalid, it will be rejected, and you will be notified to upload valid proof.

Processing Time

Once you submit your request for adding or changing a bank account, our team will verify the details. If all documents are valid, your bank account will be updated within 48 working hours. You will receive confirmation via email or SMS.