All the goodwill that the firm has garnered for itself in the past 10 years (since its establishment in August 2010) has made numerous people incline towards it and trade through it. The broker boasts over a million clients and offers some great trading tools on its advanced trading platforms.
As far as account opening is concerned, you can open a Zerodha Account if you possess all the required documents. Usually, if you open a Demat Account with any broker, your trading account is opened for free.
Individually, trading accounts do not have any maintenance charges, however, opening a Demat Account means paying AMC. The Zerodha AMC Charges are to be paid quarterly (i.e. every 3 months from the date of account opening).
Zerodha Kite Account Opening Process
Now, it is important to understand that you open an account with Zerodha who is a broker that allows trading through its in-house trading platforms. Zerodha Kite is one of the trading platforms offered by the firm and is available in both webs as well as mobile versions.
This means that you can access Kite by Zerodha only if you have an account with the broker. Hence you can not use the Zerodha Kite trading platform to open your account. Rather, you can use Kite for trading, monitoring stocks, and charting if you have opened an account or already have an account with Zerodha.
Zerodha Kite Account Opening Online
When we are talking about Zerodha Account, then there are two major types of accounts offered by the broker, namely the Zerodha free demat account and trading account. Also, the broker offers two different ways, online and offline to open the account.
In all, it helps its customers to meet every account opening need in a seamless manner.
Before discussing the two processed in detail, here’s are some things you need to keep in mind:
As a bank proof, keep a canceled cheque/latest bank statement ready.
Provide the bank proof and details of the bank account which you want to link with your Zerodha account.
Your name, IFSC code, and MICR code should be visible in the scanned copy of your provided bank proof
Your Aadhar/UID must be linked to your mobile number registered with Zerodha (this is mandatory for the online account opening process)
If you wish to trade in futures & options as well as in commodities, you need to provide proof of income
You can provide the last 6 months bank statement, salary slip (stamped and signed by the employer) or latest ITR (Income Tax Acknowledgement) slip as your income proof
Also, you will need a scanned copy of your specimen signature (your sign on a blank page)
All your scanned documents must be in “.jpg” format
After you meet all your needs, the next comes the account opening process.
Visit Zerodha website and then the account opening page.
Enter your 10-digit mobile number
Click on “Continue”
An OTP will be sent to your mobile number. Complete the OTP verification and you will be directed to a sign-up window
On this page, enter your full name and the email id which you want to register with Zerodha
Click on “confirm” and a “set password” window will open
Enter the password 2 times and confirm
Now, you will have to enter your PAN number and your date of birth
Once you confirm, a “payments” page will appear. If you wish to trade in equity and currency trading, you pay ₹300 while for executing Zerodha Commodity trading, you pay ₹200. You may choose to trade in both segments as well by paying ₹500
For the online payment, you can use Google pay, net banking or your debit/credit card
Once you complete the payment, you will be asked to fill in the bank details (which to wish to register with Zerodha)
Fill in all the information as and when prompted
Complete the OTP verification once again and then enter your Aadhar number (this process is only for those who are not registered with Digi-locker)
Then, click on “Link your Digilocker with Zerodha” and enter your Digi-locker id and password
Click on “sign-in”
Fill in all your details that are prompted and click on “continue”
An OTP will be generated, write in a piece of paper, or receive it on your mobile. If you are using a desktop, open the webcam and hold the paper/mobile with the OTP. Do the same in front of the camera if you are using a mobile
Then, click on “save IPV”
Since you already have your Aadhar linked to your mobile, click on the “Aadhar” and upload all relevant documents online (as and when promoted)
Authenticate your application with your E-sign
Once your sign-up is complete, send your POA (in case of Demat accounts only) on the address mentioned on the screen
It generally takes 24 to 48 working hours for your Zerodha account to be opened
Want to open the Demat Account
Zerodha Kite Account Opening Form
As discussed earlier, you can open an account with Zerodha via the offline method. For this, you can download the form by visiting the website.
Fill all the essential details and choose the type of trading you want to do.
Here it is good to look for the charges corresponding to each type of trade.
Also, before downloading the form, you have to follow the steps similar to the online process until “Save IPV” step.
After this click on “I’ll print & courier” option. Fill the form and attach the supporting documents and POA.
Sign the form and send it to the address mentioned in the form.
Alternatively, you can also request a call-back to know the entire process. In the offline process, it usually takes about 2 to 3 working days from the date of receiving the application for your account to be opened.
Zerodha Kite Account Opening Documents
Whether you choose to open the account online or offline, you have to submit a few documents to verify the details you entered.
Here is the list of documents you must gather before processing the account opening request.
1. Aadhaar Card
2. PAN Card
3. Bank Statement
4. Canceled Cheque
6. Latest Salary Slip
7. Passport Size Photograph
8. Scanned copy of Signature
Zerodha Kite Account Opening Charges
For accessing Zerodha Kite you just need to have an account with the firm. Any additional charges are not levied on using the Kite mobile or web platform.