Having a demat account with Motilal Oswal and being satisfied with its services do you want your friends and relatives to start trading with the broker? If yes, then reap the opportunity of Motilal Oswal Refer and Earn.
This referral program helps you to make money from every account opened by your reference.
However, there are certain terms and conditions associated with the program. To know this, dive in.
Motilal Oswal Referral Program
Basically, refer and earn Demat account is a program in which you can refer a person or a friend to open a Motilal Oswal demat account and, in return, get the opportunity to earn rewards.
Before moving ahead, it is essential to understand the two widely used terms, i.e., referee and referrer, in the refer and earn program.
The referrer is the one that refers the acquaintances and friends to open the 2-in-1 account with Motilal Oswal, i.e., demat account and trading account.
Whereas the referee is the individual that has been referred by the referrer to open a demat account with the broker.
Now, you might be thinking of a platform from which you can refer a friend. Isn’t it? You can easily refer a friend from any of the Motilal Oswal apps. Just log in to any of the apps and click on the ‘Refer and Earn’.
Peculiarly, a referrer can refer multiple or infinite acquaintances or friends to= the Motilal Oswal Refer and Earn program.
Now, let’s shed some light on the rewards that will be earned by both referrer and referee. Motilal Oswal comes up with different reward slabs that depend upon the margin added by the referee. The details are given in the table below:
As shown above, the Motilal Oswal referral program benefit is not limited to the referrer, in fact, the referee gets an equal opportunity to earn rewards.
For every referral, you can earn an Amazon gift voucher worth ₹1000 and your friend (referee) can get the brokerage reversal of up to ₹1000 on the trades done within 30 days of account activation.
How Motilal Oswal Referral Program Works?
To refer your friend for Motilal Oswal demat account opening, follow the steps below:
- Login to the MO Investor app and click on the ‘Refer and Earn’ program.
- Enter your name, mobile number, and Email id.
- Similarly, enter the referee details (name, mobile number, and email id).
- Once the referee (your friend) opens an account, the referral bonus (Amazon voucher) is sent to your mobile number and email id within 60 days of account activation.
Motilal Oswal Refer and Earn Terms and Conditions
To understand the program, let’s get a sneak peek at the Terms and Conditions of Motilal Oswal Refer and Earn.
- When the referee is referred by two referrers, the referrer who referred first will be considered.
- The mobile number should be the same at the time of referring and opening an account.
- To reap the benefit of the referral program, the margin should be added in T+15 days.
- The account of the family member and minor account would not be considered for the Motilal Oswal refer and earn program.
- The referrer can refer maximum 10 accounts in a month.
The Motilal Oswal refer and earn is a program to generate rewards by referring a friend or individual and opening his demat account.
As mentioned above, the candidate can earn rewards as a referrer and referee.
For that, it is advisable to do research, represent and refer!