Zerodha is the first-ever and the top discount broker in India in terms of volume, a number of customers, and growth. Among many of its services, Zerodha Demat Account comes up with many attractive features.
You can now open the 3-in-1 account i.e. Demat, Trading, and Bank Account (in collaboration with the IDFC bank).
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 scripts with the investors.
Apart from this with the 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. As per the latest data, it has more than 1.5 million client base.
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.
After going through the benefits of Zerodha Demat Account many among you would be ready to open a Demat Account with Zerodha.
If you are the one who is willing to open Zerodha Demat Account then here are some of the requirements that need to be fulfilled.
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.
If you are looking forward to opening the Demat account
Zerodha Demat Account Opening Online
Here is the step by step method to Open Zerodha Demat Account 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 is 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 the details and send it by courier or post.
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.
Canceled Check 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
Zerodha is known for charging the minimum fees for opening a Demat account.
Its opening charges for equity is INR 300 and commodity charges INR 200. After opening an account, the customer needs to pay the annual fees of INR 300.
Other charges related to Zerodha Demat Account: Other nominal charges apart from AMC and account opening charges are Rs.50. This charge is applicable towards stamp duty for registration of power of authorization.
Pledging: For pledge creation, Zerodha charges Rs 20 plus additional request charges and CDSL charges.
Check Bounced: In case the check bounced, the customer is charged with INR 350.
Statement: Although Zerodha provides e-statement, in case the customer request for the physical statement, he needs to pay INR 50 (courier charges)
Call and Trade Charges: The call and trade charges charged by the discount broker is Rs.20 per call.
Along with these, there are one additional DP charges that are imposed by the broker every time the stock that is held for more than one day is sold.
In the case of Zerodha, the DP charges stand at INR 13.5 + GST per scrip.
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 services, 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 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 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 notification regarding the account closure details via email.
Make sure that you clear all the balance before closing your Zerodha Demat account.
Zerodha 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.
Here are the details of various support channel offered by Zerodha
Zerodha Customer Care Details
Complaince Email ID
9 am – 6 am
When opening a Demat Account offline or online, the person can directly contact the Zerodha customer care executive by dialing a number 080 4913 2020.
The customer care executive is highly supportive and offers you a complete guide for seamlessly opening the account.
Benefits of Zerodha Demat Account
If you are thinking of opening a Demat account, then here are many reasons why should you choose the platform of Zerodha.
Some of the best benefits of opening Zerodha Demat Account are:
1. 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 Zerodha operative branches at every nooks and corner of your city.
2. 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.
It offers innovative and multiple trading platforms like KITE, Zerodha Varsity, Smallcases, Sensibull and lots more. Thus, it put all the necessary steps to make trading seamless and beneficial for customers.
Zerodha is popular among investors because it offers the cheapest brokerage plans in the country. It charges no fees for equity delivery transactions and for other trades it charges the maximum amount of Rs. 20 that 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.
4. No Hidden Charges
Zerodha provides the complete transparency in their services and prices and so does not have any hidden charges.
5. No Charge or Minimum Brokerage
Also, there are no minimum brokerage charges, thus 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 Zerodha for opening a Demat account 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 the 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.
It charges ₹20 on Call & Trade
Other than this, although the broker offers a 3-in-1 account, one has to open the 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 10 lakh customer base or above and owing to low brokerage fees, it offers the best and highly innovative services to its clients.
In case you are looking to get started with your stock market investments, let us assist you in taking the next steps ahead.