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Zerodha Account Opening Process Review 2024

Rated 4.5/5 by InvestorGain Team
Zerodha Account Opening
  1. The Pioneer Discount Broker
  2. Get 100% Free Delivery Trading
  3. Free Direct Mutual Funds & SIP

Zerodha, the country’s largest discount broker offers Demat and Trading account opening facility for online trading in equity, futures & options, commodities, and currency segment. You can open Zerodha Account online through aadhar based eKYC process and start trading at flat Rs. 20 per order. The discount broker has also a tie-up with IDFC First Bank to facilitate 3-in-1 account opening services (Free Demat + Trading + IDFC First Bank a/c). Let’s find out the complete details on the Zerodha account opening process, required documents, account opening charges, DP charges, account closure process, and more.

Zerodha Account Opening Charges

TransactionCharges
Trading Account Opening ChargesOnline Rs 200 (Eq+Curr), Rs 300 (Eq+Curr+Com)
Trading AMCFree
Demat Account Opening ChargesFree
Demat AMCRs 300 PA

Zerodha Account Opening Process| Open Zerodha Account Online

The discount broking firm facilitates 100% paperless account opening process to allow customers to open Zerodha account instantly within 24 hours. Opening an online account requires you to keep several set of documents handy and your aadhar card must be linked with the mobile number.

10 Steps to open Zerodha Trading and Demat Account online:

  1. Visit the official website and click on the “Sign up now” button.
  2. Enter your mobile number and verify it with a 6 digit OTP.
  3. Enter your e-mail address and verify it with a 6-digit OTP sent to the provided e-mail ID.
  4. Provide your PAN number and DOB as per your PAN card and press on the “Continue” option.
  5. Pay the Zerodha account opening fee either via UPI or net-banking method.
  6. Enter Aadhar number and OTP and tap on the “continue” button.
  7. Now, provide your personal information and bank account details accurately.
  8. Complete Zerodha IPV process through uploading a selfie with a 4-digit code just next to your face.
  9. Upload documents like bank proof, aadhar, PAN card, signature, and income proof (optional).
  10. Click on the eSign and you will be redirected to NSDL, enter your aadhar number and OTP and then, press the “Submit” button to sign the form digitally.

Zerodha Offline Account Opening| Open Zerodha Account Offline

If you have not yet linked your mobile number with the aadhar card or facing any sort of difficulty in online process, then you can open Zerodha account offline.

Steps to open Zerodha Trading and Demat account offline:

  • Visit the broker’s website or call at 080 47192020/080 71175337 to get the Zerodha account opening form.
  • Print out the form, fill it up and sign it.
  • Attach documents like bank proof, pan card, etc.
  • Send the duly filled form with relevant documents to the Zerodha head office address, mentioned below:


#153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore - 560078

Zerodha Account Opening Documents

  1. PAN card.
  2. Aadhar card.
  3. Digital copy of your signature.
  4. Bank Proof i.e. latest bank statement or cancelled cheque.
  5. Income proof (Mandatory for derivative/F&O trading).

Zerodha Account Opening Form

The open a Zerodha account offline, the first question is that where to get the Zerodha Account Opening Form? then here are the details;

Note: You can simply call at the Zerodha helpdesk of 080 47192020/080 71175337 and get the form at the registered e-mail address.

Zerodha Account Closure Process

Zerodha is one of the first broker who offers online account closure. Now, you don't need to go with the traditional closure process of filling offline forms manually and send it to the broker's head office. You can close Zerodha Demat Account online through console back-office platform provided that you have no securities, no dues pending and has Zero balance.

Steps to close Zerodha Demat account online:

  1. Log in to the console back office.
  2. On the top menu bar, click on the “Account” tab.
  3. Now, on the left-hand side, click on the “Segment” option.
  4. Scroll down the page and you will see the “Close account” option, just click on it.
  5. Now, select the reason for account closure and press the “Continue” option.
  6. Proceed to esign and tap on the “Sign Now”.
  7. Accept the terms & conditions, enter your VID aadhar card number, and click on the “Send OTP”.
  8. Enter OTP sent to your mobile number and tap on the “Verify OTP” option.
  9. You will receive an account closure confirmation email and the request will be processed within 72 working hours.

Note: Once the closure request is initiated, access to both the Kite and console will be disabled.

Important Points:

  • Before closing Zerodha account, make sure to have null balance in Zerodha account with no pending dues.
  • Demat account should not contain any securities. If yes, then either sell or transfer to another demat account.
  • Demat account must have zero balance.

Zerodha Account Closure Charges

  • Customers can close their Zerodha Demat and Trading account at zero charges. Thus, the discount broking firm provides free account closure facility.

Is Zerodha Good and Reliable Broker?

Yes, Zerodha is a safe, trustworthy, good, and reliable broker due to many reasons, provided here as under:

  • Number one discount broker in India.
  • Active clientele base of 29 lakh+ customers with more than 18% market share.
  • Member of SEBI, BSE, NSE, MCX, and NDEX.
  • 10+ years of existence in the discount brokerage industry.
  • Pioneer of Flat Rs. 20 discount brokerage model.
  • Best in-house trading platforms; Zerodha Kite (Web and App), Zerodha coin, etc.
  • Zerodha is a Debt-free company.
  • Low client complaints ratio indicates excellent customer service.

New Account Opening - How to join Zerodha?

If you are looking to start trading at the lowest brokerage charges, then Zerodha is the best broker. You can open Trading and Demat account with India’s largest discount broker Zerodha through following two ways;

  1. Open Zerodha account online instantly within 24 hours.
  2. Open Zerodha account offline through submitting duly filled account opening forms.
Request call back from Zerodha

New Account Opening offers with Zerodha

Free Demat Account + Zero Brokerage Delivery Trading are the two benefits of online trading with Zerodha.

Zerodha Promo Code

Currently, no promo code is available to open an account with Zerodha.

Zerodha Referral Code

Zerodha has a referral policy wherein people can refer Zerodha account to their friends and family members and get following benefits:

  1. Withdraw or redeem 10% of the brokerage share to their linked bank account.
  2. Get 300 reward point on each referral and redeem reward points to get access to Zerodha tools.
    In this section we have covered most frequest scenario you have about new account opening. Does Zerodha have any promo code? Does Zerodha have any special Offers? What are the refferal benefit with Zerodha if I refer my friends or family? How can I start my trade with Zerodha? Is Zerodha good and reliable?

FAQs

Zerodha provides both Individual and Non-individual Demat accounts. For individual account opening, you need to have mandatorily a PAN card, address proof, and Bank proof. If you want to open an account online, you need to have an Aadhaar card with an active registered mobile number to receive the OTP.

You can also open an NRI (PIS and NON-PIS)  account with Zerodha but in offline mode only.

For non-individual accounts (Company, HUF, LLP, and Partnership), you have to follow the offline route and contact the Zerodha account opening team on 080 47192020 / 080 71175337.

 

 

You can close your Zerodha account online from Console now. Below are the steps to close your Zerodha account online.

  • Visit https://console.zerodha.com/account/segment-activation
  • Click on “Close account” under the account closure section.
  • Select the reason and click on continue.

    Note: If you have any holdings in your Demat account the request will not go through.  You may have to either sell those or transfer them to another Demat account.

  • In the next step, you have to do Esign. Click on “sign now “.
  • Enter your Adhaar and click “Send OTP”.
  • You will receive the OTP on your Adhaar registered Mobile number and enter that.
  • Now click on “verify OTP”.

Your account is closed within 72 working hours of placing the request on the console.

 

 

Yes, the existing Demat account can be converted into NRI-NRO account only. Conversion to the NRI-NRE account is not possible.

The process of conversion takes 8 working days in general after receiving the documents. In the process, your resident account is closed and a new NRI-NRO account is opened.

For the list of documents, you have to contact the Zerodha account opening team. You have to fill out the documents and send them to the head office of Zerodha.

 

 

If your mobile number is not registered with  Aadhaar you will not be able to open the Demat account online with Zerodha. The mobile number registered with Aadhaar is used for receiving the OTP, which is used for doing the esign. In such a case you have to open the Demat-trading account offline with Zerodha.

To open the account offline,

  • Register here - Zerodha Account Opening Request
  • You have to fill out the Demat and trading application form individual/non-individual, which is available at this link.
  • Self-attested Pan copy, passport size photograph, Address proof, Bank proof, etc are needed to be sent along with the form.

Opening a Zerodha account offline might take 48 working hours to receive the forms at head office.

 

 

You can open a Zerodha Account online provided you have your number linked to your Aadhaar. Follow the below steps to know how to open a Zerodha account online.

  • Register here - Zerodha Account Opening Request
  • Enter your 10-digit number and confirm the OTP.
  • Fill out the details like Name and email.
  • Fill in the PAN details and pay the account opening Fee.
  • It will take you to the Aadhaar KYC Digi locker.
  • Enter the temporary OTP you receive on your Aadhaar linked mobile number and complete the verification.
  • Fill in other details like Parents, background, etc.
  • Link the bank account and do the IPV.
  • Upload the necessary documents.
  • Follow the last step and do the esign.

Once the esign is complete your account will be activated within 24 working hours.

 

 

The accepted bank proofs in Zerodha are as follows

  • Bank Passbook
  • Latest bank statement
  • Personalized cancelled cheque

Without bank proof, the bank can’t be added to your Trading account.

 

 

Once you fill out the online application form and complete the sign-up process, the account will be opened within 24 working hours. The login credentials will be emailed to you, using which you can log in to KITE and start trading.

 

 

Once you complete the online sign-up process, the account is opened within 24 working hours, and the login id is sent the next working day.

Within 48 working hours, the welcome email is sent by Zerodha containing login credentials.

 

 

The video in-person verification is done by Zerodha to verify if the client has opened the account himself. This is mandatory by SEBI guidelines, which a broker has to follow.

In the IPV process, OTP is generated on the screen, which the client has to write and show on paper or show the OTP on the mobile phone. The picture must contain your face and OTP clearly.

 

 

Zerodha doesn’t charge any fee for withdrawing funds to your bank account. The funds are transferred in 24 working hours if the requests are placed before the cut off time.

 

 

The AMC(Account Maintenance charge) is deducted once every quarter by Zerodha. The total AMC charge is 300 Rs +18%GST per year. Zerodha deducts this quarterly as 75 Rs+18%GST in every 90days from the date of account opening.  The AMC is deducted from your trading ledger balance automatically.

Zerodha doesn’t charge any AMC for BSDA accounts.

 

 

No, it is not possible to open a Zerodha account with out Aadhaar. The Aadhaar is used for doing the esign. The esign is done using the OTP received on the mobile number that is linked to Aadhaar.

 

 

You can deactivate your Zerodha account temporarily by sending an Account deactivation/closure form to Zerodha’s Head office.

The account Closure form can be downloaded from Zerodha’s official website. To download the Account closure form follow the steps mentioned below.

  • Go to com/resources.
  • Click on “Account Deactivation/Closure form”.
  • Check on “Deactivate account”.

Once you fill out the application form, you can send the application to Zerodha’s head office on the below address.

Zerodha, #153/154,

4th Cross, J.P Nagar 4th Phase,

Opp. Clarence Public School,

Bengaluru - 560078

 

Alternatively you can deactivate your Demat account by raising a ticket with esigned Account deactivation form.

The esigning of the account deactivation form can be done by visiting digio.in . Once the deactivation form is esigned shall be sent via a ticket raised from Zerodha Support portal.

 

 

If you have deactivated your Demat account in Zerodha, the same can be reactivated by writing a letter requesting reactivation to Zerodha’s Head office. The address is as below.

 

Zerodha,

153/154, 4th Cross, J.P Nagar 4th Phase,

Opp. Clarence Public School,

Bengaluru - 560078

 

Alternately, you can send the reactivation letter by esigning it and sending the same via raising a ticket from Zerodha Support portal. The esigning of the account reactivation letter can be done by visiting digio.in

 

 

You have to open a Zerodha account offline if your mobile number is not registered with Aadhaar.

To open a Zerodha account offline you have to send the account opening form along with the following documents.

  • Submit Account Opening Request With Zerodha
  • Account opening form.
  • Photograph affixed and signed across.
  • Self-attested Pan copy and self-attested Address proof( DL, Voter ID, passport, Aadhaar, etc).
  • Bank proof such as bank statement, canceled cheque, bank passbook copy, etc.
  • Income proof( Salary slip, ITR acknowledgment, Form 16) for activating F&O.

Account opening form can be downloaded from zerodha.com/resources.

The forms need to be sent to the below address.

Zerodha,

153/154, 4th Cross, J.P Nagar 4th Phase,

Opp. Clarence Public School,

Bengaluru - 560078

 

 

After you place the account closure request online, it will take the next 72 working hours to close the account. If your form gets rejected, Zerodha will email you with the rejection reason.

 

 

Yes, you can close your Zerodha account online from Console. Below are the steps to close your Zerodha account online.

Note: If you have any holdings in your Demat account the request will not go through.  You may have to either sell those or transfer them to another Demat account.

  • In the next step you have to do Esign. Click on “sign now “.
  • Enter your Adhaar and click “Send OTP”.
  • You will receive the OTP on your Adhaar registered Mobile number and enter that.
  • Now click on “verify OTP”.

Your account is closed within 72 working hours of placing the request on the console.

 

 

No, you can not add a joint holder to your Demat account. You have to close the existing individual account and open a new Joint Demat account.

In the new joint Demat account there can be a maximum of up to 3 joint account holders.

Opening a joint Demat account is an offline process only. You can contact the Zerodha account opening team on 080 47192020 for further process.

 

 

The documents required for opening an account in the Zerodha is following :-

  1. Aadhar Card
  2. PAN Card
  3. Photo
  4. Bank Details
  5. Mobile number and E-mail ID

 

 

Last Updated on 2024-05-23