If you are confused about why you should open a demat and trading account at Zerodha, then here are top reasons:
Here are the documents required to open a demat and trading account at Zerodha. I will recommend keeping soft copies of all these documents ready before you apply for opening the accounts as you’ve to upload them during the account opening process:
*Optional– Income proof: It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency. You can submit Form-16, IT acknowledgment copy, 6-month Bank statement or your latest salary slip as proof. Anyways, ignore this document if you are planning to invest only in just stocks, and not in derivatives, commodity or currency.
Here are the account opening charges at Zerodha
(Note: This is the Revised account opening charges updated in December 2019 by Zerodha)
If you want to trade in both equity and commodity, then you need to pay an account opening charge of Rs 200+Rs 100 = Rs 300. However, if you want to trade just in equity (stocks), then you need to pay the charge of Rs 200 only.
Using the online method, you can open your account with Zerodha within 15 minutes, if you have all the required documents.
In the online method, to complete the eSign process, you will have to authenticate it with an OTP. So, make sure you have the number that is linked to your Aadhaar. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.
The first step is to signup using your mobile number and verifying the OTP. Then you’ll be required to enter your PAN, bank account, Aadhar verification, and personal details to continue with the signup.
Besides, if you face any difficulties while opening an account online, you could contact at – 8737 012345
Now that you’ve got a basic idea of how to open your account at Zerodha online and what are the docs/things required, next, let me give you a detailed step-by-step explanation of the process:
Step 1: Go to the Zerodha account opening page on your browser.
Step 2: Enter your mobile number to sign-up. You’ll receive an instant OTP to verify the mobile number.
Step 3: Enter your full name and email id. Please enter your email address correctly as you’ll again receive an OTP to verify your email id. This is the same email where you’ll receive all your future correspondence from Zerodha. Enter the OTP that you’ve received on your email to verify your email address.
Step 4: Next, enter your PAN and date of birth (DOB) details in the field provided.
Step 5: Complete the account opening payment.
For equity– you’ve to pay Rs 200 and for commodity, the charge is Rs 100. You can complete the payment through UPI or Net-banking/Card payment.
Tick the checkboxes according to your requirement and click on ‘Pay & Continue’ button. Make sure to uncheck the commodity account, if you’re not planning to trade in it and save Rs 100.
After payment, you will see the Congratulations message displayed on the screen and receive an email regarding the payment confirmation.
Step 6: After completing the payment, it will ask your Aadhar details
Step 8: Once your Aadhar verification is complete, a new screen will come displaying “Let’s finish the application”. Here, you need to fill up more details starting by filling up Bank Details i.e. your bank account number, bank name and branch’s IFSC Code.
Below that, you have to fill some details like Marital status, Father’s first name, Father’s last name, etc. After entering the details, click ‘CONTINUE’
Step 9: Next is IPV Verification over webcam/phone.
IPV or In-person-verification is a process where a depository participant in personal verifies documents and other details as per the law by SEBI. It is compulsory for every investor to go through the in-person verification process before opening a demat and trading account.
Here, they’ll display an OTP on the screen. You need to write down this OTP show on a piece of paper or your smartphone. Then, hold the piece of paper/ mobile phone with the code in front of your mobile phone/ webcam.
Click on “Start IPV”, then click on “Take Video” and finally on “SAVE IPV”.
Step 10: Next, you will have to Digitally sign the application with Aadhaar (mobile OTP) .
Step 11: Upload scanned copy of the documents: Bank Account Proof, your current signature, PAN. Income Proof is optional & only required if you want to trade Futures & Options, currency, and commodity.
Step 12: Next, it’s time to eSign. Click on ‘eSign Equity’ button and proceed to the next step. Enter the ‘Security Code’ received on your registered Mobile no/Email and click on ‘submit’.
Step 13: In the next window, enter your Aadhaar number, tick the checkbox and click on ‘Request OTP’ button. Here, enter the OTP number received on your mobile. With this the eSign process for Equity is complete.
Note: If you also opted for commodity trading account, repeat the same process by clicking on ‘eSign commodity’ as shown in ‘Step 12 ‘.
Step 14: Once you’ve completed the application sign up, you will have to download the Demat POA (Power of attorney) form, fill it up & send it to the address mentioned below.
#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase,
Bangalore – 560078
Note: Although you can start trading from the day you receive your client-id and password, nevertheless, do send the POA and nomination documents as soon as possible. If your POA has not been received by Zerodha, then you won’t be able to sell the stocks (however, you will be able to buy stocks). Hence, do fill and send the documents as soon as you can.
I will recommend you to have a demat account. Zerodha is working towards the Digital India initiative and you should be a part of it too. Online methods seem to have too many steps but, they do not take too long. Once you’ve started the application form, you can build a flow and complete the form within 15-20 minutes.
That’s all. These are the steps to open a demat and trading account at Zerodha. I hope this post is useful to the readers.