5paisa Capital Ltd is one of India's fastest growing discount brokers that offers a full spectrum of financial products such as equity, derivatives, commodities, currency, IPO mutual funds, insurance, etc. The broker is a DP with CDSL to facilitate clients to open demat account with 5paisa. Customers can open a FREE online demat account with 5paisa due to zero account opening charges. However, to trade in different segments, people can also open a 5paisa Trading Account. Thus, by this means, the broker provides a 2-in-1 account including demat + trading account. It further offers a free mutual fund account to enable customers to undertake investment in mutual funds. On this page, check the complete details about 5paisa accounts, online demat and trading account opening procedure, documentation, account modification, closure, and others.
5paisa Account Opening Types
5paisa offers two types of accounts and it is completely up to the investors to choose whatever the type of account they need to open to satisfy their trading & investment requirement.
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5paisa All-in 1-Investment Account
As the name itself, it is the blend of Trading + Demat + Free Mutual Fund Account. The 2-in-1 account means 5paisa Demat Account and 5paisa Trading Account are linked to each other to provide users a seamless trading experience. Whenever a client buys any security through the trading account, its delivery can be taken to the demat account, however, in case of sell order, the security will be debited from the demat account. Along with this, they will further get a mutual fund account that is completely free. Thus, people who want to trade in equity, derivatives, commodity, currency, and other segments must open an All-in-1-Investment Account with 5paisa.
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5paisa Mutual Fund Investment Account
This is particularly only for mutual fund investors wherein they can open a free mutual fund account with 5paisa and can undertake investment in the direct as well as regular plans. It is noteworthy that with this account, people can't invest in other financial products.
5paisa Account Opening Benefits
Every investor takes the account opening decision weighing the associated costs, account opening process, benefits, and other services. There are plenty of reasons to open an account with 5paisa, listed below;
- All-in-1 Trading Account is a one-stop to invest in equity, F&O, commodity, currency, etc.
- Free Demat Account with 5paisa at zero account opening charges.
- Open an online demat account with 5paisa in just 5 minutes saves time.
- Get a Free Mutual Fund Investment Account to invest in mutual funds.
- Lowest trading cost - Trade at a flat fee of Rs. 20/order across all segments under Optimum plan.
- Availability of various brokerage plans such as Optimum, Platinum, and Titanium.
- Technology-driven trading platforms i.e. 5paisa mobile app, trading software, and web platform.
- Get research, Robo-advisory and Algo-trading facilities.
5paisa Account Opening process
5paisa offers online as well as offline account opening service, among which, customers can select the one of their choice.
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Open 5Paisa Account : Follow these simple steps
5paisa is India's first fintech organization that provides all kinds of financial services digitally. Thus, it is a tech-savvy organization that aims to offer greater ease and convenience to users by providing online account opening services. To open online demat and trading account with 5paisa, below listed steps are required to be followed;
- To Start Account opening process, please submit your contact information with us.
- Step 1 - Personal Details: Just enter basic info such as PAN no., Date of Birth, and Aadhaar details and other information will be pre-filled from the eKYC database and users just need to verify it.
- Step 2 - Bank Details: In the next step, users need to enter bank account number and IFSC Code to fetch bank details. These details are necessary to provide because customers can add or transfer funds from the linked bank account only.
- Step 3 - Upload documents: Later, required documents such as PAN Card, Address Proof, and others are required to be uploaded for the purpose of verification. The full list of documents are provided in the Account Opening Documents section on the same page.
- Step 4 - Payment of fee: This step requires payment of the fee. Although the 5paisa demat account opening fee is nil however, the broker levies a trading account opening fee worth Rs. 650. Further, AMC charges need to be paid.
- Step 5 - e-Sign process: Client has to complete an e-sign or digital signature process based on Aadhaar that will be verified online by the 5paisa team.
If you've all the documents handy, then you can open a demat account online with 5paisa within less than 10 minutes.
Offline Account Opening with 5paisa
Not every investor is familiar or even comfortable with the online process due to less tech-friendliness henceforth, may prefer to open an account offline. Even people who don't have Aadhaar or if their mobile number is not registered with the Aadhaar then they can open an account by filling forms manually. Under the 5paisa offline account opening procedure, customers have to courier the duly filled and signed account opening form along with the self-attested documents to the broker's Mumbai office.
5paisa Capital Limited
Sun Infotech Park, 1st Floor,
Plot No.B-23, Road No 16V, MIDC,
Thane Industrial Area,
Wagle Estate,
Thane, Maharashtra 400604
It is noteworthy that 5paisa also arranges Document Pick Up Facility for users wherein a person will come to your address and pick up the courier.
To know the cities where Document Pick Up Facility is available, Click here
5paisa Account Opening Form
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You can either download the required account opening forms from the 5paisa website or call the customer service desk to get the form on your registered mail address.
5paisa Account Opening Charges
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5paisa Demat Account Opening and AMC Charges
Transaction Charges Trading Account Opening Charges Free Trading AMC Free Demat Account Opening Charges Free Demat AMC Rs 300 PA
5paisa Account Opening Documents
The document checklist to open 5paisa account is provided here as follows;
- Applicant's photograph.
- Applicant's PAN Card.
- Address proof: Passport, Driving license, Voter Id, Bank statement, Electricity bill, Utility bill
- Bank proof: Cancelled cheque with printed name of account holder or first page of bank statement with client's name.
- Income proof: Copy of ITR Acknowledgement, Form 16, salary slip, latest bank statement, networth certificate, etc.
- Specimen signature.
Note: Income proof is only required to trade-in derivative means futures & options segment.
5paisa Account Opening Activation Status
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If you've submitted all the documents and completed the entire account opening formalities then you can check your account activation status anytime through the 5paisa Application Status Tracker.
If you have opened an account online, then it will get activated within a few hours, once after the verification of all the information and supporting documents. However, if in case any discrepancy is found in information provided then the account activation may be delayed.
On the other side, if you've opened an account offline then once the broker receives the courier and all the documents are verified, the account will be activated within a maximum of 2 working days. You will receive an e-mail confirmation for the same. In case, if everything went right and the account is not yet activated then you can inquire with the customer supporting staff to know the reason.
5paisa Account Modification Process
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Sometimes, users may need to alter or modify their registered account details, it may be anything like their contact details, address, bank details etc. 5paisa has a provision for users to modify such information wherein account holders have to download, print and send the relevant Account Modification Form to the broker.
5paisa Account Modification Form
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All kinds of forms whether account opening, modification or closure are available on the broker's website from where it can be downloaded.
5paisa Account Deactivation
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The discount brokerage firm, 5paisa offers account deactivation facility to temporarily freeze their account. You can do this to avoid any AMC charges, once your account gets deactivated, the broker will revoke access to all trading platforms. To deactivate your 5paisa account, you need to send the duly filed account deactivation form - Freeze/Unfreeze request form to the broker.
5paisa Account Reactivation
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If you want to reactivate your account anytime, then you can do this too by providing the request form to unfreeze your account. Notably, only a deactivated account can be reactivated but you can't reactivate a closed or deleted account.
5paisa Account Closure Process
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If you are not satisfied with the broker's services and don't trade with the 5paisa Trading Account or even moved to another broker, then your account becomes a dormant or inactive account. In order to avoid AMC charges and to avoid the account misuse, you should close your account. Customers can close 5paisa Trading and Demat Account offline following below steps;
- Download the 5paisa Account Closure Request Form.
- Fill-up and sign the form by providing all the required information. In case of a joint account, all the account holders need to sign the account closure request form.
- Courier the duly filled closure request form to the broker's head office along with the documents such as unused DP slips, ledger, etc.
- After a week of the form submission, you can take follow-up with the customer care team to know the status.
- Once the account closure gets started, you'll receive a closure intimation.
Prior to account closure, you must assure following things:
- Close all open F&O positions.
- Either sell or transfer your current holdings in the 5paisa demat account to another account to keep it empty.
- Pay all pending dues to the broker.
5paisa Account Closure Form
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You can download the form from the 'Download' section under the 'Customer Support' tab of 5paisa website. If you're unable to find the form online, then you can contact the customer support team to get the form.
