Zerodha Offline Account Opening

Zerodha is a Bengaluru based financial services company that provides services like retail and institutional broking, trading in currency and commodity and other investment options. There are two ways of opening an account with Zerodha: Online and Offline. In this article, we will learn about the process of Zerodha offline account opening.

Also Read: Zerodha Currency Trading

Zerodha Offline Account Opening Process

The process of Zerodha offline account opening can be completed in steps listed below:

Step 1:

Account Opening Forms: The first step in Zerodha offline account opening is to fill the account opening forms and send them to their address after signing them. The account opening forms can be obtained by :

1. Calling at the account opening helpline number. Check this Zerodha Customer Care review for the information on contact details

2. You can request for a call back by providing details here:

3. Downloading the forms available on their website and getting them printed out.

When you call at their account opening helpline number or requests a callback, a sales manager will be assigned to you who will be sending the account opening forms on email. These forms will need downloading and printing. 

Step 2:

Filling Out and Sending the Forms: Once you have soft copies of the account opening form, you will need to download them and get their print outs. After that, the forms need to be filled completely as per the instructions.

After this, you need to send them to the address mentioned on their website after signing them.

Let us see the different forms one needs to fill:

1. Application form for trading and demat account
2. Application form for trading in commodities
3. Power of Attorney (POA)
4. Electronic Contract Note (ECN) – This one is required to enable commodity segment
5. Nomination Form – This form can be filled if one wants to nominate some other person for his / her accounts. One needs to mention the relationship between the nominee and the applicant in it.

Note – The guidelines for filling the forms are available on their website. If at any point in time, one needs any kind of help while filling out the account opening forms, one can call at their account opening helpline number. 

Opening an account with Zerodha makes you eligible for the Zerodha Referral Program that offers you brokerage percentage for every reference who become a client.

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Zerodha Offline Account Opening Documents

Now, let us discuss the documents one needs for Zerodha offline account opening –

1. PAN Card – Self-attested copy of PAN card is mandatory for all clients. One must remember to check whether the photo and the photocopy of the PAN card are clear and there is no mismatch between the name mentioned in the PAN card and other proofs, failing which, the application can be rejected.
2. Proof of Address – Self-attested copy of any one of the address proofs:
   1. Driving License
   2. Voters Identity Card
   3. Ration Card
   4. Passport
   5. Aadhar card
   6. Bank account statement
3. Proof of Income – Self-attested copy of any one of the following income proofs :
   1. The most recent salary slip
   2. A copy of Income Tax Return Acknowledgment
   3. A copy of Form 16
   4. Bank statement for the last 6 months or passbook with the last 6 months transactions
   5. A copy of one’s net worth certificate

These are needed only for trading in futures and options segments.

Cancelled Cheque – A cancelled cheque with one’s name printed on it is also required, if not, then bank statement needs to be attached.

For more information, you can check this detailed review on Documents required for demat account.

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Zerodha Offline Account Opening Alternative

Another way of Zerodha offline account opening is to schedule a meeting with a representative of Zerodha at a preferred address, date and time. A meeting can be fixed with the representative by either calling at the account opening helpline number or by requesting the sales manager assigned.

The Zerodha representative will call and explain about all the documents you would require to fill and attest when he comes for the meeting. He would take all the required signatures in person.

The Zerodha offline account opening charges can be paid by going to their website.

In case there is any mistake in filling the required forms or anything is missing, the applicant will receive an email stating the reason for rejection. He / she would further receive guidance as to how to fix the mistakes in order to successfully do Zerodha offline account opening.

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Zerodha Demat Account Opening

Zerodha demat account can be opened online as well by following the steps mentioned below:

• Go to their website and fill information regarding your name, contact number, email id to sign up.
• Other information that needs to be filled while signing up is PAN, bank account and other personal details.
• There is an option to pay account opening fee after filling the details mentioned above.
• Further to activate the account one need to fulfill the in-Person Verification with Zerodha IPV.

In case one needs help while following the procedure, one can call the account opening helpline number.

In an online account, one can see all the trading related things at one platform and does not need to register all the trades manually anywhere.

One can check one’s portfolio, returns on each scrip, funds in the account, margin requirements etc. in just a few clicks through the online account. Also, online reports, technical indicators, etc. can be viewed easily in online accounts.

Now, let us discuss some of the pros and cons of Zerodha offline account opening.

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Zerodha Offline Account Opening Pros

Here are some of the advantages of opening your Zerodha account offline:

1. No Need of Infrastructure: For offline trading, one just needs a phone to call in order to make trades. While travelling or living in places where internet connectivity is an issue, offline trading is very beneficial. There is no need for a laptop, tab or internet for offline trading.

2. Chances of Mistakes Decrease Significantly: In online trading, the chances of making errors while trading increase, especially in the case of beginners who are not used to placing online orders.

3. Guidance: Offline method of trading helps new traders in getting used to the intricacies of the stock market. They can seek immediate guidance on their decisions due to the offline nature of their trading.

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Zerodha Offline Account Opening Cons

At the same time, here are a few concerns you should ideally be aware of as well:

1. Convenience: A trader needs to call and give the details of the transaction one desires every time he / she wants to make a transaction. 

2. Flexibility: Offline method of placing orders does not offer much flexibility. It becomes a little difficult to take out time from busy work schedules in order to place orders.

3. Online research reports and analysis: While trading offline, online research reports and analysis are not easily accessible. Even the Zerodha Intraday tips are available only through online trading platforms.

4. Possible delay in depositing money: While trading offline, it becomes a little difficult and more time consuming to transfer funds directly in the trading account. It can result in negative consequences sometimes, especially in case of settling mark to market losses.

5. Delay in obtaining prices related information: Offline method of trading makes it difficult to track every second by second change in prices of stocks. It can disrupt the pace of trading.

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Conclusion

After carefully analysing various pros and cons of the online and offline account openings and one’s own experience and comfort level, one should choose between Zerodha online or Zerodha offline account opening.

One should carefully check the details of the account opening form and ask questions to the representative assigned to him/her, if necessary.

All the self-attested copies of required documents must be submitted along with one’s signatures, failing which the application can be rejected by Zerodha.

At the same time, you can open the account online as well. To get started, just fill in the form below to get started:

 

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More on Zerodha

If you are looking to know more about this discount broker, here are a few references for you: