How to change your bank IFSC after a merger on Zerodha

From WebNotes, a public knowledge base. Last updated 12 May 2026. Reading time ~8 min. Level: Intermediate.

Key facts

Time required	3–5 business days after document submission
Cost	Nil
Verification	Penny-drop verification (Re 1 credit to confirm new IFSC/account number is valid)
Common bank mergers	Lakshmi Vilas Bank into DBS India (2020); Yes Bank restructuring; HDFC Ltd merged into HDFC Bank (2023)

When a bank merger occurs, the IFSC code of branches is changed as the acquiring bank integrates the network. If your Zerodha account is linked to a bank whose IFSC has changed due to a merger, fund withdrawals from Zerodha to that account will fail until the new IFSC is updated.

Notable bank mergers in India that have triggered IFSC changes include:

Lakshmi Vilas Bank merged into DBS Bank India (November 2020): All LVB IFSC codes were replaced with DBS India IFSCs.
Yes Bank restructuring (March 2020): IFSC codes were retained but some branches were closed.
HDFC Ltd merged into HDFC Bank (July 2023): HDFC Ltd was a housing finance company, not a commercial bank; this merger is less likely to affect IFSC codes for savings accounts.
Bank of Baroda, Vijaya Bank, Dena Bank merger (2019): All Vijaya and Dena IFSC codes were migrated to Bank of Baroda IFSCs.

This guide covers how to update the bank IFSC at Zerodha following any such merger.

Step 1: Get the correct new IFSC from your bank

Do not guess the new IFSC. Obtain it directly from the bank through one of the following:

Net banking or mobile banking: Log in to the merged bank’s platform. The IFSC is displayed on the account summary page or in the branch details section.
Updated passbook: Passbooks updated after the merger will show the new IFSC.
Branch letter or bank statement: Request a letter from the branch confirming the new IFSC. A recent bank statement heading also shows the current IFSC.
RBI IFSC lookup: Visit the RBI IFSC search tool at rbi.org.in or use NPCI’s IFSC lookup at npci.org.in to search by bank name and branch.

Note both the new IFSC and your account number (to confirm it is unchanged).

Step 2: Prepare the supporting document

The standard document for a bank IFSC update at Zerodha is a cancelled cheque from the updated bank account, which shows:

The account holder name
The account number
The new IFSC code (printed on the cheque leaf)

If the merged bank has not yet issued new cheque books with the updated IFSC, alternatives include:

Recent bank statement (from the merged bank’s net banking or mailed statement) showing the new IFSC in the header
Bank letter on official letterhead confirming the new IFSC for your account

Ensure the document clearly shows the account number and the new IFSC. Self-attest the document with your signature and date.

Step 3: Raise a bank modification request on Zerodha Console

Log in to Zerodha Console.
Go to Profile > Bank account (or Account > Bank details, depending on the current Console version).
Check whether a self-service Edit IFSC or Change bank option is available. Zerodha has been progressively adding online bank modification flows.

If self-service is available:

Select the existing bank account entry.
Edit the IFSC field and save.
Upload the supporting document (cancelled cheque or statement).
Verify via OTP on the registered mobile.

If self-service is not available:

Raise a support ticket at support.zerodha.com. Category: Account > Bank account modification.
Attach the supporting document.
State clearly in the ticket: the current (old) IFSC, the new IFSC, the bank account number, and the reason (bank merger name and date).
Send from the registered email address.

Zerodha may also require a modification form for bank account changes; check the support response for a form download link.

Step 4: Penny-drop verification

Zerodha verifies the new bank account details by initiating a penny-drop – a Re 1 electronic credit to the stated account number at the new IFSC using IMPS or NEFT. This confirms that:

The IFSC is valid and active.
The account number is correct.
The account is active and in the name that matches Zerodha’s records.

You do not need to take any action for the penny-drop; it is done by Zerodha’s system. However, the verified name (as returned by the bank for the penny-drop) must match the name on your Zerodha account (per PAN). Any name mismatch (e.g., bank account is in a slightly different name variant) will cause the penny-drop to fail, and you will need to contact Zerodha support to resolve the discrepancy manually.

Step 5: Confirmation and test withdrawal

Zerodha sends a confirmation email when the bank IFSC update is complete, typically within 3–5 business days of document submission.

After receiving confirmation:

Log in to Console and verify that Profile > Bank account shows the new IFSC.
Place a small test withdrawal (Rs 100 or a round amount) to verify end-to-end fund transfer to the updated account.
Monitor the bank statement for the credit within one business day.

Multiple linked bank accounts

Zerodha allows linking of one primary bank account (for withdrawals) and up to two additional bank accounts. If you have multiple linked accounts and only one is affected by the merger, update only the affected account. The primary withdrawal account must be the one with a valid IFSC for withdrawals to process.

What can go wrong

Withdrawal failure before IFSC update: If a withdrawal is rejected due to an incorrect IFSC (post-merger), the funds are returned to the Zerodha trading account within 1–3 business days by the banking system. No funds are lost; you can then reattempt the withdrawal once the IFSC is updated.
Penny-drop name mismatch: Bank account names sometimes show initials, maiden names, or abbreviated forms that differ from the PAN name. If the penny-drop fails due to a name mismatch, contact Zerodha support with a bank letter confirming the account holder is the same person as the PAN holder.
Cheque shows old IFSC: If your cheque book was printed before the merger, the old IFSC will be on it. Banks typically send new cheque books after a merger; use a bank statement or bank letter as the supporting document instead.
Account number changed in merger: Rare, but in some mergers account numbers are changed. If your account number has changed, the entire bank account must be re-added (not just the IFSC updated). The process is equivalent to adding a new bank account; additional verification may be required.

References

RBI, List of IFSCs, rbi.org.in/Scripts/IFSCMICRDetails.aspx (updated periodically).
RBI Press Release, “Scheme of Amalgamation of Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd.”, 25 November 2020.
SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/70, 25 May 2022, Change of bank account details.
Zerodha Support, “How to update or change bank account details”, support.zerodha.com (accessed May 2026).

WebNotes Editorial Team prepares factual how-to guides based on publicly available regulatory documents and broker disclosures. WebNotes is not affiliated with Zerodha Broking Limited. Procedures are subject to change; verify current requirements at support.zerodha.com before acting.

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 12 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.