Want to know how to open demat account in zerodha? Well you have landed on the right article.
Zerodha is India's largest discount broker, with over more than 30 lakh consumers. Zerodha's fees are reasonable, and their trading platform is both quick and user-friendly.
It charges 0.03 percent or Rs 20 for each executed order, whichever is less, regardless of the number of shares or their values. Therefore, if you are planning to enter the stock market (or are already a participant),
It is recommended to open accounts with this bargain broker "Zerodha" to save money on brokerage fees. Zerodha is also contributing towards the Digital India initiative, and you should as well.
Although online approaches appear to have an excessive number of stages, they do not take an inordinate amount of time. Once you've begun the application form, you can create a flow and finish it in 15-20 minutes.
In this article, we have covered detailed guide on how to open zerodha demat account.
How To Open Demat Account In Zerodha
Why should you open a Zerodha Demat Account?
Zerodha is the largest stockbroker in India. It is one of India's best and cheapest brokers. Zerodha provides discount stock and commodity trading for a flat Rs 20 for each executed order, regardless of size. Brokerage is not charged on equity delivery deals or Mutual Fund investments.
The following are the top reasons why Zerodha is the greatest broker:
1. Zerodha Pricing
- Equity delivery at Rs 0 (no cost) and direct mutual funds.
- Everything else at the BSE, NSE, and MCX is limited to a maximum of Rs 20 per trade.
- There is no up-front charge or commitment to turnover.
- There are no extra penny stock-brokerage fees or contract minimums.
- Brokerage Calculator will assist you in calculating all fees upfront.
2. Zerodha Support
- Trading Q&A, Z-Connect, an interactive blog, and a portal are always available to answer all of your questions.
- Trading and investing by over 30 lakh clients account for more than 15% of all retail order volumes in India daily.
- There are no Relationship Managers, no sales or brokerage targets, and no forced trades.
- Over 1500 dedicated support staff to ensure the quickest reaction time for your email or phone inquiries. (As of October 20, 2020)
- Zerodha Varsity is a free online education portal that covers topics such as options trading, fundamental analysis, technical analysis, and more.
How to open Zerodha Account online
To know how to open a demat account in zerodha, here are the step-by-step instructions to follow:
Step 1: Navigate to the Zerodha Demat account registration page on the Zerodha website.
Step 2: To get started, provide your cell phone number.
Step 3: A one-time password (OTP) will be emailed to the mobile number you provided.
Step 4: Confirm the information by entering the OTP.
Step 5: Fill out your details, including your full name and email address. (The name on your Aadhaar Card, PAN Card, and bank account must match.)
Step 6: Enter your PAN card number and date of birth (DOB).
Step 7: Finish the procedure by funding the Zerodha Demat Account. (Rs 200 for Equity and Additional Rs 100 for a commodity)
Step 8: Once you have completed the payment process, you will be prompted to enter your Aadhaar details into Digilocker.
Step 9: Once you have completed Aadhaar verification, a new screen will display prompting you to enter your bank details.
Stage 10: The next step is IPV (In-person Verification) through a webcam or phone. As part of the process, documents must also be supplied. Scan any relevant documents, such as bank account evidence, signature, PAN card, and, if appropriate, income proof.
Stage 12. The next step is to e-sign in. To advance to the following step, click on eSign Equity. Enter the Security Code that was sent to your registered mobile phone and click the Submit button.
Stage 13. Go to the following screen and enter your Aadhaar number. Check the box and then click the 'Request OTP' button. This will bring the whole thing to an end.
Note: To complete the eSign procedure via the online method, you must authenticate the procedure with an OTP. As a result, make sure the mobile number you are using is linked to your Aadhaar. You will be unable to finish the purchase if the process is not authenticated.
Documents required to open Zerodha Demat Account
1. A photocopy of your PAN card, which you must upload to the Zerodha portal.
2. Aadhaar Card (Customers can open their account via the offline route if you do not need to use your Aadhaar details)
3. The mobile number associated with your Aadhaar card (mandatory for online account opening as customers will receive the OTP in that particular number only)
4. Customers must authenticate their e-Sign with a One-Time Password to complete the process (OTP). As a result, ensure that your consumers have the mobile number associated with your Aadhaar. Otherwise, you will be unable to complete the transaction.
5. If the number associated with your Aadhaar is no longer in use, or if you do not have any number associated with your Aadhaar, you must visit the local Aadhaar Seva Kendra to have your number updated/linked.
6. Bank Proof: Cancelled cheque/Bank statement/Passbook front page (or any combination of these) to link to your bank account.
7. Note: If your check does not include your name, the bank statement you provide should have both the IFSC and MICR
code. Otherwise, your application will be rejected.
The bank proof you offer should include your name, the bank's logo/sign/stamp, your account number, the IFSC code, and the MICR code.
Signature: An uploaded scanned copy of the customer's signature will be required.
Income verification (Optional): It is only required if consumers want to trade Futures and Options - Equity, Commodity, and Currency.
how to create zerodha account Offline
You must first download the form from Zerodha's official website to fill it out offline.
Fill in the form and sign the form. You can send it to Zerodha's headquarters through courier or post, or you can contact an official in your area. However, to preserve the safety of Covid-19 employees, form pick-ups have been temporarily halted.
The application forms must be mailed to the following address:#153/154 4th Cross Dollars Colony, Opposite Clarence Public School, J.P Nagar 4th Phase, Bangalore – 560078
What documents are needed to open an account offline?
- A passport-sized photo
- An authenticated copy of the PAN Card
- Address proof that is also self-attested (Driving License, Voter ID, Passports, Aadhaar Card, Bank Statement)
- A self-attested copy of evidence of income (latest salary slip, ITR, Form 16, 6-month bank statement, and so on). Required for trading in derivatives (FO, CDS, and MCX)
- Bank documentation, such as a personalised cancelled cheque with your name on it, a bank statement, or a copy of your bank passbook (With visible bank account number, MICR, and IFSC code)
- If you have all the required papers, you can open an account with Zerodha online in 15 minutes.
- Charges of account opening at Zerodha
- Trading and Demat account - INR 400
- Commodity account - INR 200
- Trading, Demat, and Commodity account - INR 600
Charges of account opening at Zerodha
- Trading and Demat account - INR 400
- Commodity account - INR 200
- Trading, Demat, and Commodity account - INR 600
Conclusion
It is recommended that you use the online approach to open your account. Zerodha is a supporter of the Digital India programme, and you should be as well. Although online approaches appear to have an excessive number of stages, they do not take an inordinate amount of time.
Once you've begun the application form, you can create a flow and finish it in 15-20 minutes. If you don't have an Aadhaar card and need to provide address verification other than a driver's license or voter ID, the offline option is suitable.
However, obtaining a Zerodha executive post may be difficult if you live in a village or a small city. Furthermore, the offline method can easily take 7-10 days to open a Demat account and begin trading
I hope you liked our article on How to Open Demat Account in Zerodha, if you have any comments or suggestions do share them in the comments below.
Frequently Asked Question
1. Can I have two Zerodha accounts with the same name?
No. You cannot have two Zerodha accounts with the same name.
2.Does Zerodha provide trading tips?
No. Unlike full-service brokers, Zerodha doesn't provide trading tips
3.How to open a Zerodha commodity account?
- Log in to the console.
- Under the commodity, section click on the activate button.
- Click on the commodity account button and continue.
- Select the income range, trading experience, and commodity trade classification from the dropdown menu.
Attach proof of income, and if the file is password-protected, please enter the password in the "File password tab."
4.Is It necessary to open a Demat account with Zerodha?
Yes, it is necessary to open a Demat account with Zerodha to trade in equity, commodity, or currency.
5.How to close the Zerodha Demat account?
Zerodha allows you to close your account online using e-Sign or offline using paper forms. The account closure request is processed by Zerodha within 5-7 business days. Steps for online account closure procedures for Zerodha are:
- Go to the Zerodha website.
- In the website's footer, click on the Downloads & Resources link under the Support Section.
- Download the Account deactivation/closure form from the Change request forms section of the Application forms.
- Fill out the form digitally with the following information:
- Tick the box next to the account you want to close: Trading/Demat or Commodity.
- Client ID is being traded.
- BO ID for Demat.
- Primary account holder's name and address
- Mention the reason for closing the account.
- Digio should be used to e-sign the form.
- Create an account closure ticket and fill out the account closure form.
You can also deactivate your Zerodha account offline by following the steps given below:
- Download the account closure form for Zerodha.
- Print and complete the form with your name, address, trade ID, Demat ID, and reason for the closure.
- Please sign the form.
- Send the closure form to Zerodha's headquarters.
Note: Pay off all outstanding debts. Your Zerodha account should not have a negative balance. Your Zerodha Demat account should include no securities. As desired, the securities can be transferred or sold. Close all F&O posts that are still open.