You can use the Instant Settlement (previously called On-demand Settlement) feature to settle your current balance to your bank account instantly 24x7 for a small fee. You can either settle your current balance in full or choose to settle a portion of it as per your needs.

By default, the settlement cycle is T+2 days for domestic payments and T+7 days for international payments, where T is the date the payment was captured.

Initiate an Instant Settlement🔗

You can initiate Instant Settlements:

From Dashboard
Using APIs

From Dashboard🔗

Once the feature is activated on your account, you can initiate Instant Settlements from the Dashboard.

Watch this video to see how to create an Instant Settlement.

To create an Instant Settlement:

Log into the Dashboard.
Navigate to Settlements.
Click Settle Now. The Instant Settlement pop-up opens.
Enter the amount you want to settle to your bank account. This can either be your full Current Balance or a part of it. You can see the fees and tax for the Instant Settlement and the amount that will be settled to you after the fees and tax deduction on the pop-up.
- The minimum amount you can enter is ₹2,000.
Click Confirm.

The Instant Settlement request is created. The requested amount will be settled to your bank account.

Using APIs🔗

Once the feature is activated on your account, you can initiate Instant Settlements using the below endpoint:

/settlements/ondemand

 Curl Java Python Go PHP Ruby Node.JS Response
Copycurl -u [YOUR_KEY_ID]:[YOUR_KEY_SECRET] \
-X POST https://api.razorpay.com/v1/settlements/ondemand \
-H "content-type: application/json" \
-d '{
  "amount": 200000,
  "settle_full_balance": false,
  "description": "Need this to make vendor payments.",
  "notes": {
    "notes_key_1": "Tea, Earl Grey, Hot",
    "notes_key_2": "Tea, Earl Grey… decaf."
  }
}'

CopyRazorpayClient razorpay = new RazorpayClient("[YOUR_KEY_ID]", "[YOUR_KEY_SECRET]");

JSONObject settlementRequest = new JSONObject();
settlementRequest.put("amount", 1221);
settlementRequest.put("settle_full_balance", false);
settlementRequest.put("description", "Testing");
JSONObject notes = new JSONObject();
notes.put("notes_key_1","Tea, Earl Grey, Hot");
notes.put("notes_key_2","Tea, Earl Grey… decaf.");
settlementRequest.put("notes", notes);       
        
Settlement settlement = razorpay.settlement.create(settlementRequest);

Copyimport razorpay
client = razorpay.Client(auth=("YOUR_ID", "YOUR_SECRET"))

client.settlement.create_ondemand_settlement({
  "amount": 1221,
  "settle_full_balance": 0,
  "description": "Testing",
  "notes": {
    "notes_key_1": "Tea, Earl Grey, Hot",
    "notes_key_2": "Tea, Earl Grey… decaf."
  }
})

Copyimport ( razorpay "github.com/razorpay/razorpay-go" )
client := razorpay.NewClient("YOUR_KEY_ID", "YOUR_SECRET")

data:= map[string]interface{}{
  "amount": 200000,
  "settle_full_balance": false,
  "description": "Need this to make vendor payments.",
  "notes": map[string]interface{}{
    "notes_key_1": "Tea, Earl Grey, Hot",
    "notes_key_2": "Tea, Earl Grey… decaf.",
  },
}
body, err := client.Settlement.CreateOnDemandSettlement(data, nil)

Copy$api = new Api($key_id, $secret);

$api->settlement->createOndemandSettlement(array("amount"=> 1221, "settle_full_balance"=> false, "description"=>"Testing","notes" => array("notes_key_1"=> "Tea, Earl Grey, Hot","notes_key_2"=> "Tea, Earl Grey… decaf.")));

Copyrequire "razorpay"
Razorpay.setup('YOUR_KEY_ID', 'YOUR_SECRET')

param_attr = {
  "amount": 1221,
  "settle_full_balance": false,
  "description": "Testing",
  "notes": {
    "notes_key_1": "Tea, Earl Grey, Hot",
    "notes_key_2": "Tea, Earl Grey… decaf."
  }
}
Razorpay::Settlement.create(param_attr)

Copyvar instance = new Razorpay({ key_id: 'YOUR_KEY_ID', key_secret: 'YOUR_SECRET' })

instance.settlements.createOndemandSettlement({
  "amount": 1221,
  "settle_full_balance": false,
  "description": "Testing",
  "notes": {
    "notes_key_1": "Tea, Earl Grey, Hot",
    "notes_key_2": "Tea, Earl Grey… decaf."
  }
})

Copy{
  "id": "setlod_FNj7g2YS5J67Rz",
  "entity": "settlement.ondemand",
  "amount_requested": 200000,
  "amount_settled": 0,
  "amount_pending": 199410,
  "amount_reversed": 0,
  "fees": 590,
  "tax": 90,
  "currency": "INR",
  "settle_full_balance": false,
  "status": "initiated",
  "description": "Need this to make vendor payments.",
  "notes": {
    "notes_key_1": "Tea, Earl Grey, Hot",
    "notes_key_2": "Tea, Earl Grey… decaf."
  },
  "created_at": 1596771429,
  "ondemand_payouts": {
    "entity": "collection",
    "count": 1,
    "items": [
      {
        "id": "setlodp_FNj7g2cbvw8ueO",
        "entity": "settlement.ondemand_payout",
        "initiated_at": null,
        "processed_at": null,
        "reversed_at": null,
        "amount": 200000,
        "amount_settled": null,
        "fees": 590,
        "tax": 90,
        "utr": null,
        "status": "created",
        "created_at": 1596771429
      }
    ]
  }
}

FAQs🔗

Here are some frequently asked questions about Instant Settlements.

1. What are Instant Settlements?🔗

By default, the settlement cycle is T+2 days for domestic payment and T+7 days for international payments, where T is the date the payment was captured.
The Instant Settlement feature allows you to settle your current balance to your bank account instantly 24x7 for a small fee. You can either settle your current balance in full or choose to settle a portion of it as per your needs.

2. Are there any additional charges for Instant Settlements?🔗

Yes. We charge a small fee to process Instant Settlement Fees.

3. How is the fees and tax for an Instant Settlement deducted?🔗

The fees and tax for an Instant Settlement is deducted from the request settlement amount. For example, you place a request for ₹2,000. Fees of ₹3 and tax of ₹0.54 is deducted from the requested amount and the remaining amount, ₹1,996.46 is settled to your bank account.

Instant Settlements