Are you facing difficulty in opening a new demat account? Look no further! Zerodha, a well-known shares brokerage and trading company, provides a hassle-free and trustworthy service to its clients. In this Zerodha review, we will provide a complete guide on how to open a demat account in Zerodha.
Zerodha: A Brief Introduction
Zerodha was founded on August 15, 2010, by the Kamath brothers, Nithin and Nikhil. With over 5 million clients, it is currently India's largest stockbroker, providing around 15 percent of all retail order volumes in India every day by trading and investing.
Zerodha deals with a variety of investments, including:
- Futures and Options
- Commodity derivatives
- Currency derivatives
- Stocks & IPOs
- Direct mutual funds
- Bonds and Govt. Securities
Zerodha does not charge any commissions for equity delivery investments like NSE or BSE, and direct mutual funds are also free of charge. However, on intraday and F&O trades, they charge 20 rupees or 0.03 percent. You'll have to pay either 20 rupees or 0.03 percent of the fee, whichever is lower.
Opening a Demat Account in Zerodha
Now, let's focus on how to open a demat account in Zerodha. It's a straightforward process that can be completed in a few simple steps:
- Visit the Zerodha website and click on “Open an Account.”
- Enter your PAN card details and personal information, including your name, address, and contact details.
- Upload your scanned documents, including your PAN card, address proof, and a passport-sized photograph.
- Complete the in-person verification process, where a Zerodha representative will verify your original documents.
- Sign the account opening form and the “Power of Attorney” form, which allows Zerodha to debit your trading account for brokerage and other charges.
- Make an initial deposit to activate your account, and you're all set to start trading.
In conclusion, opening a demat account in Zerodha is a simple process that can be done online. With its user-friendly interface, low brokerage fees, and excellent customer service, Zerodha is an ideal choice for anyone looking to invest in the stock market. So, what are you waiting for? Open your demat account in Zerodha today!
Understanding Demat Account
When it comes to online trading, having a Demat Account is a must. This account allows users to buy and deposit shares and stocks with ease. A Demat Account acts as a digital locker for all your investment-related documents, including shares, government bonds, transfer funds, securities, and mutual funds.
What is a Demat Account?
A Demat Account is an electronic account that stores electronic copies of stocks and bonds. It is also known as a dematerialized account. The primary objective of a Demat Account is to keep track of shares that have been purchased or dematerialized. This account plays a crucial role in making online stock trading convenient for users. Instead of holding physical shares and bonds, users can store them in a digital format in a Demat Account. This helps in making transactions easier and faster.
How to Open Demat Account in Zerodha
Opening a Demat account is an essential step to invest in the stock market, and Zerodha is a trustworthy brokerage firm that provides this service. Here's a complete guide on how to open a Demat account in Zerodha.
Documents Required for Online Account Opening
Before proceeding with the online account opening application, ensure that you have the following documents:
- A photocopy of your PAN card with your signature.
- Aadhar details.
- Mobile number linked with Aadhar card.
You can directly upload your PAN card photocopy on their portal. You will receive an OTP on your linked mobile number as you submit these details.
Documents Required for Offline Account Opening
For the offline account opening process, you will need the following documents:
- One passport-size photograph of the applicant.
- One copy of a self-attested (signature) PAN Card.
- One copy of self-attested address proof like Voter ID, Aadhar card, Bank account statement, Driving license, etc.
- One copy of self-attested income proof like your latest salary slip, ITR, Form 16, 6-month bank Statement, etc. (needed for derivatives trading).
- Bank account proof like a canceled cheque or a bank passbook copy.
Make sure to paste your photograph on the KYC form and sign across it.
Online Signing Up
If you are interested in opening a Demat account with Zerodha, signing up is an easy and straightforward process. First, you need to visit the signup page on Zerodha's website and enter your mobile number. Once you receive an OTP from them, verify your mobile number. Then, submit the required documents and provide the necessary information such as PAN and Aadhar verification. The Demat account opening charge is Rs. 200, and if you want to open a commodity account, it will cost an additional Rs. 100.
If you are looking for discounts or offers, you can check out Zerodha's coupon codes.
Offline Signing Up
If you prefer offline applications, download the application form for the Demat account from Zerodha's website, fill it out, and courier it along with the required documents to Zerodha's head office in Bangalore. The address is provided below, and the account opening charges for both Trading and Demat accounts are Rs. 400.
153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078
Keep in mind that offline applications may take a longer time to process. If you prefer online applications but are not comfortable with the process, Zerodha's professionals can guide you through the online process and help you sign up.
We hope this article has been helpful in guiding you through the process of opening a Demat account with Zerodha.
What is a Zerodha account, and why do I need it?
A Zerodha account is a gateway to invest and trade in the stock market. It encompasses services like opening a demat account, facilitating account opening, and providing various financial products like Equity, mutual funds, direct mutual funds, and F&O. The broker also supports NRI account
How can I open a Zerodha demat account?
To open a Zerodha demat account, follow these steps:
- Understand the account opening process thoroughly.
- Gather the required Zerodha account opening documents, including Savings account, PAN card, and Aadhar card.
- Visit Zerodha's official website and follow their account opening process.
- Complete KYC verification as per the guidelines.
- Once verified, you'll receive a Zerodha account along with its associated features.
Can I trade intraday using Zerodha's trading platform?
Yes, Zerodha's trading platform supports Intraday trading, allowing you to buy and sell securities within the same trading day. It provides real-time data, technical analysis tools, and a seamless interface to execute Intraday trades effectively.
Is Zerodha account opening process secure?
Zerodha follows strict security protocols for online account opening. The trading platform uses advanced encryption and authentication methods to safeguard your personal and financial information, ensuring a secure and reliable account creation process.
What are the Zerodha charges?
You need to pay ₹200 as Zerodha account opening charges. Besides, customers have to pay a Zerodha AMC of ₹300. Zerodha brokerage charges are pretty minimal.
The discount broker charges ₹0 for Equity Delivery and direct Mutual Fund, and a Flat ₹ 20 or 0.03% (whichever is lower) per executed order on Intraday and F&O trades.
Who is Nithin Kamath?
Nithin Kamath is the founder of Zerodha. He played a crucial role in establishing the brokerage firm, which is now India's largest stockbroker.
Nithin Kamath's vision and leadership have been instrumental in shaping Zerodha's customer-centric approach and innovative services.
Opening a Zerodha account should be easy for you after reading this article. I have explained all the essential steps involved in the Zerodha account opening process. You can open an account in Zerodha in about 15 minutes if you follow these steps carefully.