Zerodha Demat Account
More on Demat Account
Zerodha is the first-ever and the top discount broker in India in terms of volume, number of customers, and growth. Among many of its services, the Zerodha Demat Account comes up with many attractive features.
You can now open the Zerodha 3-in-1 account i.e., Demat, Trading, and Bank Account (in collaboration with the IDFC bank) under the Zerodha facility.
Zerodha offers the provision for both trading and Demat Accounts to its customers. On one hand, where the trading account is useful for undertaking and executing the trade on the other side, the Demat account is used to retain stocks and scrips with the investors.
Since it is registered with NSDL, thus you would be able to operate NSDL demat account with Zerodha.
Apart from this, with Zerodha Demat Account, you get access to use most of the trading apps of Zerodha, like Zerodha Kite that gives you an update for upcoming IPOs.
Coming to trade, it charged the minimum brokerage charges for trading in different segments including the Zerodha Mutual Funds and also does not charge any delivery charges or upfront fees.
All these features make Zerodha the leading brokerage firm and as per the latest data, it has more than 3+ million client base. Thus making this one of the reasons why opening a demat account with Zerodha is beneficial.
Still have questions related to the Demat account opening with Zerodha. Well! It’s obvious and therefore, we are here with the complete information of the Account opening, its process, requirement, charges, and lots more.
Dive in to grab its services and trading experience.
Also, learn to make effective use of the Zerodha Demat Account by knowing how to use the Demat account.
Zerodha Demat Account Review
Zerodha is not a single discount broker in the country, but the features in brokerage services and benefits it offers to its customer brings a revolution in the trading world. So, let us begin with the complete Zerodha Demat Account review.
With multiple branches in different cities of almost every state of the country makes it easy for potential traders to reach and to grab Zerodha Demat account services.
Opening a Demat Account with Zerodha gives the customer a great opportunity to trade without worrying about paying the large brokerage charges.
Along with this, it opens the gateway for traders to access multiple trading platforms (Zerodha Kite, Zerodha Varsity, Smallcase Zerodha, Zerodha Pi, Zerodha Coin, etc) through the web or mobile apps.
Also, the Zerodha Demat account opens the way to trade in different segments like Equity, Commodity, Currency, Options, Futures, Mutual Funds, IPOs, Derivatives, etc.
If you are willing to open the Zerodha Demat account then you just follow a simple process. Since the company is customer-oriented therefore it offers a seamless process to open an account.
Before applying for Zerodha demat account opening, make sure you have all the documents essential for opening the same.
Below is the detailed information, that helps you to get your Zerodha Demat account in no time.
Zerodha Demat Account Opening
After going through the benefits of the Zerodha Demat Account, next comes the process of how to create demat account with the broker.
If you are the one who is willing to open Zerodha Demat Account then all you have to follow is the process of Zerodha Sign up.
- Register your name, mobile number, and city.
- The support team or representative will guide you for opening the Zerodha Demat account online.
- Apart from online, the client can download the form, take a print and send it via post.
- The customer needs to submit important documents for Identity and Address Proof.
- After validation of the document, the customer will be provided with the trading account ID and password that enable him or her to start trading with Zerodha Kite or Zerodha Pi.
- The total Zerodha account opening time may vary from 1 to 7 days depending on a few factors.
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Zerodha Demat Account Opening Online
Here is the step-by-step method of Zerodha Demat Account opening online.
Step 1: Visit the Zerodha website and go to the Zerodha Demat account opening page.
Step 2: Enter the mobile number for signing up.
Step 3: An OTP will be sent to the entered mobile number.
Step 4: Enter the OTP to verify the details.
Step 5: Enter details like full name and email id.
Step 6: Enter details of the PAN card and DOB.
Step 7: Proceed further by paying the Zerodha Demat Account Opening Fees.
Step 8: After completing the payment, it will ask to connect Aadhaar details via Digilocker.
Step 9: On completion of Aadhar verification a new screen will be displayed in which you are asked to enter your bank details.
Step 10: The next step involves the Zerodha IPV verification over webcam or phone.
As per the SEBI guidelines, IPV verification or In-person verification meaning is it a process of verifying depository participant documents and other details. In this step, an OTP will be displayed on the screen. Note the OTP on paper and hold it in front of your mobile phone or webcam.
Save IPV after you are done with the step.
Step 11: The next step is the submission of the signature. You will be provided with two options either signing the page digitally with Aadhaar or print the form and courier it.
Step 12: Another step is the submission of documents. Scan all the necessary documents like Bank Account Proof, signature, PAN card, income proof if applicable
Step 13: Next is e-Sign. Click on eSign Equity and move further to the next step. Enter the Security Code that you receive on the registered mobile number and click on the Submit button.
Step 14: Open the next window and enter your Aadhaar number. Mark tick on the checkbox and click on the button ‘Request OTP’. This will complete the whole process
Step 15: Download the Zerodha POA (Power of Attorney) form for Demat. Fill in the details and send it by courier or post.
Zerodha Demat Account Opening Offline
Apart from the online application, one can open the Zerodha Demat account offline as well.
For filling the form offline, you need to download the application form from the official website of Zerodha. Fill it up and sign it.
For offline Demat applications, the document requirement is the same as mentioned below. Send the photocopies of all the mentioned documents and self to attest all the photocopies by signing them.
Once you are done, you can send it to the head office of Zerodha via courier or post and your demat account with Zerodha will be opened soon!
Zerodha Account Opening Form
For opening the Demat account with Zerodha offline the form is available online. You can download the same from the Equity Segment.
To add a nominee to your Demat Account download the nomination form and print it.
How to Get Zerodha User ID?
After the successful completion of the Zerodha demat account opening process, you will be shared with a welcome kit via email and message. This kit will contain your Zerodha login credentials such as User or Client ID, password, and other details.
You must use these details while logging into the Zerodha Demat account login portal.
Zerodha Account Opening Documents
To open a Zerodha Demat account, the customer needs to submit some of the documents. Keep the soft copies of the following documents to prevent the last-minute rush.
These documents are essential to validate your information and to avoid any kind of fraud.
As per the rules, here is the proof you have to submit to process your account opening application.
- PAN Card
- Aadhar Card
- Canceled Cheque or Bank Statement
- Signature on the piece of paper
- Passport size photos
If you are willing to trade in Futures and Options- Zerodha Commodity, Equity or Currency, you have to submit some additional documents:
- Income Tax Return
- Bank Statment of the last 6 months
- Salary Slip of the last three months
- Demat Account holding statement
Almost all the documents enlisted above are essential to submit to open the Demat account with Zerodha. Make sure you self-attest the photocopies of the documents before sending them along with the form for processing the account opening offline.
Zerodha Demat Account Charges
Now the most important aspect, is the charges for the demat account. Here different types of fees is imposed on the demat account and in the case of Zerodha, it varies across the broker as well.
Here is the list of charges imposed on your demat account:
- Demat account opening charges
- AMC for Demat Account
- Demat account closing charges.
Let’s discuss these charges in detail.
Zerodha Account Opening Charges
Unlike other discount brokers in the industry Zerodha charges INR 200 for opening equity account and in commodity, the charges are INR 100. This means that for opening a commodity trading account along with an equity account one has to pay ₹300.
This is the one time payment charged by Zerodha.
Zerodha AMC Charges
Zerodha AMC or Annual Maintenance Charges are Rs. 300 for the individual Demat Account. For Corporate Account, the AMC charges of ₹1000/- is chargeable every year.
The customer needs to pay these fees every year for the maintenance of the account.
AMC charge for the Demat Account in Zerodha is applicable for maintaining the Demat account and no other account like a Trading account is attached to this fee.
Zerodha Account Closing Charges
Now if you are not satisfied with Zerodha demat account services or not using it actively, then you can place the closing request. The broker does not charge any account closing fees, but to process the request, one has to pay all the pending dues and penalties charged by the broker over time.
Also, if there is any share held in your account then it is important to sell them or transfer to another demat account before closing.
Zerodha Refer and Earn
There are many advantages of opening a demat account with Zerodha, and one of those are getting access to referring and earn program. Under this program, once you become an active user of Zerodha, you can refer its services to your friend or family.
Once the referral opens a demat account and starts trading with the broker, you can earn benefit through commission on brokerage they pay.
Zerodha generally pays a 10% commission on every brokerage paid by your referral. Other than this, you earn points on every referral and further use these points to get free access to Zerodha Streak and Sensibull.
How To Close Zerodha Demat Account?
“How to close Zerodha Demat account” is one of the frequently asked questions. So, if you do not use your Zerodha Demat Account for more than 6 months it gets deactivated.
However, you can activate your account by calling to a customer care executive of Zerodha. If you are not using Zerodha or have moved to another broker service, then it is highly recommended to close the account.
Learn how to delete the Zerodha account and prevent you from paying AMC charges and also reduces the chance of getting your account misused by anyone.
Zerodha Demat Account offers the best and convenient way to close the account by simply submitting the application for Account Closure.
You can download the form from the official website of Zerodha. Take a print of the form and fill in all the essential information.
Sign it and send a courier to the Banglore office.
After receiving the application and completing all the formalities, Zerodha takes two working days to close the account. Customers get notifications regarding the account closure details via email.
Make sure that you clear all the balance before closing your Zerodha Demat account.
Zerodha Demat Account Number
Zerodha Demat account number is a unique number shared with the account holder once he opens a Demat account with Zerodha.
Specifically, its a 16 digit number different for each person and consists of the initial 8 numbers of the Zerodha’s DP ID, and later 8 digits will be the Client ID.
Hence, in that case, the DP ID will be similar for every person who has a Zerodha Demat account. If you don’t remember your ID, you can contact their customer care support via phone, chat, or email.
Zerodha Demat Account Customer Care Number
Zerodha Demat account is known for offering quick and best customer support services. You can say that the support team stands on their front foot to help their clients with queries and issues.
From personal grievances and account opening issues, trading issues the customer care executive helps them in resolving queries and their doubts.
You can reach the executive via different channels like email support, customer care number, social media platforms, etc.
Zerodha Demat Account customer care number and details related to various support channels are shared as below-
When opening a Demat Account with Zerodha either offline or online, the person can directly contact their customer care executive by dialing the number 080 4913 2020.
The customer care executives are highly supportive and offer you a complete guide for seamlessly opening the demat account with Zerodha.
Benefits Of Zerodha Demat Account
If you are thinking of opening a Demat account with Zerodha, then having a clear and transparent clarity that why you choose this platform is a must. Does it have something better as compared to other brokers?
Some of the key benefits of the Zerodha Demat Account are as follows:
- Maximum Reach and Networks
Since Zerodha is the best and most recognized brokerage house in the capital market fraternity and traders, therefore one can easily find the operative branches at every nooks and corner of the city to open a demat account with Zerodha
- Trading Platforms
Since any discount broker is famous for the trading platform and for offering cheap brokerage plans, Zerodha is one among or one can say the founder of the discount brokerage in India.
Once you have opened a Demat account with Zerodha, it offers innovative and multiple trading platforms like KITE, Zerodha Varsity, Smallcases, Sensibull Zerodha, and lots more.
Thus, it put all the necessary steps to make trading seamless and beneficial for customers.
Zerodha Demat account is highly popular among investors because it offers the cheapest brokerage plans in the country.
Zerodha delivery charges are zero and for other trades it charges the maximum amount of Rs. 20 which is lower than 0.01% of the whole transaction value.
Along with the least price, the plan is simple and easy to understand so there is no need to take out the calculator for doing any brokerage calculations.
Other than this, DP charges in Zerodha are minimum and one can trade without worrying much about the trading cost.
- No Hidden Charges
Zerodha provides complete transparency in their services and prices and so does not have any hidden charges.
- Zerodha Joint account
The broker provides the privilege of opening a joint demat account as well in case you would like to have opened against multiple members.
- No Charge or Minimum Brokerage
In the Zerodha Demat Account one needs not to pay any minimum brokerage charges, which means that the customer is required to pay only the amount for trade and the maximum amount of Rs. 20 for any volume of order.
Some other reasons that influence customer for choosing a demat account with Zerodha are:
- It charges the same price for all the exchanges done.
- The website provides Z-connect, interactive blog, and portals thus the customer can meet with almost all the queries and doubts.
- It has a team of more than 300 employees that offer support and meet queries via email or phone.
Disadvantages Of Zerodha Demat Account
Apart from the advantages discussed above, there are a few disadvantages. It is good to consider them as well to avoid any loss in the future.
- Unlike other top brokers, Zerodha does not offer any assistance of trading to its customers.
- Trading through Zerodha Demat account includes charges ₹20 on Call & Trade.
- Other than this, although the broker offers a 3-in-1 account, one has to open a savings account with the IDFC First Bank.
- Also, it does not offer any way to protect the investment done by the investors using its trading platform.
Zerodha Demat Account is the most popular among customer who enters the investment market. With the 35 lakh+ Zerodha active clients base or above and owing to low brokerage fees, it offers the best and highly innovative services to its clients.
There are two ways to open a Demat account with Zerodha namely Offline and Online. The offline method is the traditional way of opening an account hence, it requires a lot of time and effort.
Contrary, the online method is simple, quick, and effortless. Through the online method, you can open a demat account with Zerodha on your fingertips.
There are a plethora of reasons to choose Zerodha and to mention some- it has outstanding trading platforms, affordable and lowest brokerage charges, tailor-made plans, a well-maintained reputation in the market, and much more!
Moreover, there are four different ways to join Zerodha such as Phone, Email, Chat, and Social media platforms but if you want a quick way to open a demat account with Zerodha simply contact us and we will definitely assist you in taking the next steps ahead without charging any fee from you.
In case of any query, feel free to contact us
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