Zerodha Demat Account Review | Open Zerodha Account

Zerodha

Founded in 2010 by First-Generation Entrepreneurs, Zerodha is an Indian Financial Service Company approved by Security and Exchange Board of India (SEBI) which made its entry to the financial domain with an aim to offer efficient assistance and upgraded technology to the Traders and Investors of the country. Zerodha account opening is quick and easy process.

zerodha-account-opening

Also claimed as one of the topmost Stock Brokers in retail, Zerodha contributes a great amount of nearly 15% to the India Retail Trading Volumes by trading and investing in NSE, BSE, MCX, and MCX-SX. Zerodha provides various services like mutual funds and bonds, retail and institutional broking, currencies and commodities trading etc pertaining to a huge client base of over Lakhs of people.

Continue Reading to learn about the safety of Zerodha Account, the amount of brokerage Zerodha Charges and step-by-step process on how you should open a Zerodha Account.

Zerodha Account Review

Zerodha is a Depository Participant which is maintained by Central Depository Services Limited (CDSL). You will be needed to open a Zerodha Trading Account for getting associated with Zerodha and to start using their services for Investing and Trading.

However, a Zerodha Demat Account Opening is not required if you want to trade in Equity only. Hence, a Zerodha Demat Account should be opened only if you wish to trade in equity and commodity both.

Open Paperless Zerodha Account – Click Here

zerodha-account-open
Zerodha

Zerodha Bank Account Types

  1. For Equity and Currency Derivatives – Trading Account
  2. For deliveries of stocks – Demat Account
  3. For trading commodity futures on MCX – Commodity Account

Zerodha Services

As Zerodha is a type of Discount Stock Broker, it does not provide its customers with any add-on trading tips or assistance like branch support, relationship managers, etc.

Hence, Zerodha ends up levying a fairly lower amount of brokerage fees unlike Full-Time Brokers. This is because Discount Stock Brokers are meant to be for individuals who do trading by themselves as such platforms are simply focused on only providing the Trading and Investment Services.

However, Zerodha frequently upholds online educational and informative sessions for its customers regarding trading and investments.

Also Read: How to find Zerodha Brokerage

Zerodha Online Demat Account

A Dematerialized Account, which is commonly known as a Demat Account is simply an electronic account which stores all your financial securities digitally rather than offline on papers.

Every Demat Account has a Demat Number which is mentioned on the transactions done through it to allow the electronic settlement of the trades. Additionally, any buying or selling of the shares done through a Trading Account linked through your Demat Account gets automatically processed once the transaction is made. For this Zerodha Account Opening becomes important parameter.

zerodha-account-opening

It is also possible to link your single Demat Account to multiple Trading Accounts. As Demat Account is a digital only platform, internet connection and transaction password are required to access Zerodha Online Demat Account.

Benefits of Zerodha Online Demat Account Opening

Given below are some of the salient features of Zerodha Online Demat Account-

  1. The securities are stored online which reduces the hassle of maintaining paper documents
  2. Convenient and quick access to equity and debts
  3. Nominal amount of debit transactions
  4. Dividends credited automatically in the linked bank account
  5. Quick Transfers
  6. Dual purpose account
  7. Reduces paperwork
  8. Increased security because of digitalization of the process

Please note that it is not necessary to open a Zerodha Demat Account along with a Zerodha Trading Account if you already have a demat account with some other broker or in case if you are only going to deal in derivatives.

Also Read: What is Zerodha Margin?

However, in case of having a demat account with any other broker, you will have to manually send the shares to Zerodha Account every time you sell them.

This is done so that Zerodha could further complete the transaction by sending those shares to the investor.

zerodha-account-opening

Zerodha Demat and Trading Account

Zerodha Demat and Trading Account which is also popularly known as the 2-in-1 Account offers the services of both, a Trading Account and a Demat Account. This is an easy way of zerodha account opening.

Hence, both of these accounts can be opened with Zerodha at one go which also creates a quick process of transaction. Under a Zerodha 2-in-1 Account, buying and selling of the shares is done via the trading account whereas the demat account contains all financial securities like bonds, mutual funds, shares etc. Hence, all the shares you purchase from your Trading Account will be stored in your Demat Account.

Zerodha IDFC Account

Zerodha has recently tied up with IDFC First Bank to start a 3-in-1 Savings Account which provides a link between the Savings Account, Trading Account as well as a Demat Account for zerodha account opening.

Having a Zerodha 3-in-1 Bank Account makes the transaction process relatively easier. This is because funds can be transferred directly from your bank account to your trading account with zero brokerage charges on buying and selling.

ALthough, Zerodha is offering the service of a 3-in-1 Account to only IDFC Account Holders as of now. Hence, it is compulsory to have a new account with IDFC before heading towards acquiring a Zerodha 3-in-1 Account.

Zerodha New Account

Zerodha offers facilities for Zerodha Account Opening through both online and offline portals. However, you should keep in consideration that if you are applying for a Zerodha Account Online, the process will be faster and your account can get opened quickly. Whereas, opening a Zerodha Account offline may take some days to process your request application.

Zerodha Online Account Opening – Step-by-Step

  1. Step 1: Visit the official website of Zerodha: Link
  2. Step 2: After reaching on the homepage of Zerodha, click on the ‘Sign-up’ button
  3. Step 3: You will be asked to add your phone number and verify it by entering the OTP sent on the same number
  4. Step 4: After successful verification of your phone number, you will need to enter details like your name and email address
  5. Step 5: Post that, enter the OTP sent to your email address
  6. Step 6: You will then be directed to the next page where you need to enter your PAN Details along with your Date of Birth
  7. Step 7: On entering your PAN Details, it will further direct you to the payments page where you have to deposit the account opening fees of Rs. 300 (for equity and commodity). You can make this payment by using UPI or Net Banking. Please ensure to uncheck the commodity charges if you want to trade in equity only
  8. Step 8: After making the payment, click on the ‘Connect with DigiLocker’ Button and sign in to your DigiLocker Account. DigiLocker is an online portal created by the Indian Government for every Aadhar Card Holder where that person can access all their original government documents in a digital format provided directly by the issuer itself.
  9. Step 9: After that, you need to share your Aadhaar Card details with Zerodha. This can be done by clicking on the ‘issued documents’ button and then opting to share your Aadhaar details.
  10. Step 10: Next, enter your ‘Personal Information’ in the specified columns along with your Bank Account Details
  11. Step 11: Read and then check on all the Terms and Conditions as proposed by Zerodha
  12. Step 12: On doing so, you will be taken to the in-person-verification (IPV) page. There will be an OTP displayed on your screen. You have to write that OTP on a paper, hold it in front of you and then click on ‘Capture’ to save it
  13. Step 13: It will direct you to the ‘eSign with Aadhaar’ Page where you have to upload your verification documents
  14. Step 14: Next, click on the ‘eSign Equity’ button to add your eSignature by visiting NSDL
  15. Step 15: You will again have to enter your Aadhaar Card details and then click on ‘Request OTP’ button
  16. Step 16: Enter the OTP received on the number linked with your Aadhaar Card
  17. Step 17: Now you will be provided your login details through an email sent by Zerodha

After completing the whole process, download and fill the Demat Power of Attorney form as well and send it to the Zerodha Headquarters on the address given below. It is important to send the Power of Attorney as without submitting that, you will only be able to buy the shares and would not be able to sell them.

Zerodha Address

Zerodha HO
153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078

Zerodha Account Opening Offline

  1. Step 1: You need to fill the Offline Account Opening Form which can be either be acquired by getting in touch with the Zerodha Sales Managers by calling on their official contact numbers or it can also be downloaded from this link
  2. Step 2: Next, you will need to print a physical copy of the form and duly fill all the columns with accurate details along with your signature. You will also need to attach the copy of all the necessary verification documents as asked by Zerodha
  3. Step 3: After this, send your form to the below given address of Zerodha Headquarters in Bangalore

Zerodha HO
153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078

Additionally, you can also set up a meeting with a Zerodha Representative in your respective city. However, it is suggested to confirm it beforehand regarding the availability of this service with Zerodha.

Zerodha New Account Opening – Document List

While applying for a Zerodha Account Opening / Zerodha Trading Account, the following list of documents is necessary to be submitted without which you will not be permitted to open an account.

  1. Aadhaar Card (Compulsory for opening an account online)
  2. Copy of your PAN Card
  3. Latest Bank Statement or Cancelled Cheque
  4. Photo or scanned copy of your signature
  5. Income proof (not mandatory but required for Futures and Options) which can be given by either depositing a 6-month Bank statement, latest salary slips, Form-16, Income Tax Return Acknowledgement, Demat holding statement, or Networth certificate from a CA.

Open Zerodha Account Online

Zerodha Account Opening Charge

If you are planning for Zerodha Account Opening Online, you will be entitled to pay Rs. 200 for Trading and Demat Account and Rs. 100 for Commodity Account through UPI or Netbanking.

However, as the offline process involves a lot more paperwork, you will be required to submit an additional amount i.e. Rs. 400 for Trading and Demat Account and Rs. 600 for Trading, Demat and Commodity Account via cheque.

Additionally, the account opening charges for Trading Account and Demat Account for NRIs is Rs. 500.

You should pay the commodity charges (Rs.100) only if you are planning to trade in both equity and commodity. Otherwise, you can simply pay Trading and Demat Account charges (Rs.200) for trading just in equity.

Zerodha Brokerage Cost

Zerodha is a Discount Stock Broker which directly focuses on providing Trading and Investment Services.

It cuts off additional feature services like relationship managers, wealth managers etc which makes Zerodha save a huge amount of money.

Hence, Zerodha charges almost 60% less brokerage on its transactions as compared to other Full-Time Brokers. Irrespective of the number of shares, Zerodha Brokerage Cost is taken as either 0.03% or as Rs. 20 per executed order, whichever of both is lesser. That is why many people prefer Zerodha account opening necessary.

Zerodha Online Account Closure

Zerodha Trading Account Deactivation (Temporary Closure)

If you are a Zerodha Account Holder and are planning to temporarily pause using services from Zerodha, you can simply opt to deactivate your Zerodha Account. However, please keep in mind that during the period of your deactivation from Zerodha, you will not be able to access any of the services offered by Zerodha on all their platforms. Additionally, you will not be able to make credits or debits of your shares as a freeze will be applied to your Demat Account.

The Annual Management Charges (if applicable) will be charged on your trading ledger even after deactivation of your Zerodha Account.

Additionally, if a user stays inactive from their Zerodha Trading and Demat Account for 6 months or more, their Zerodha account will automatically get deactivated after the specified time.

Trading Account Zerodha – Deactivation Steps

To manually deactivate your Zerodha Trading and Demat Account, you should follow the steps given below-

Zerodha Account Deactivation Online Process

  1. Step 1: Visit the official website of Zerodha
  2. Step 2: Search and Download the ‘Account Closure Form’ available on the website
  3. Step 3: Using any of the text editor tools, fill in the details and don’t forget to check on the ‘Deactivate Account’ option
  4. Step 4: After this, you will be required to sign-in to the Digio Website which can be reached by visiting https://www.digio.in/#/index
  5. Step 5: After successfully signing-in, upload your request form by clicking on the ‘add document’ button
  6. Step 6: Next, press the ‘Sign’ button
  7. Step 7: It will ask to enter your VID which is a temporary number connected to your Aadhaar Number
  8. Step 8: You will now receive an OTP which you will have to enter in the specified column
  9. Step 9: Lastly, your eSign will be attached to your request form.
  10. Step 10: Now you can download the form with your digital signature in it and then raise a ticket for deactivation of your Zerodha Account from their official website

    Note: Deactivation means temporary closing the account

Zerodha Account Deactivation Offline Process:

  1. Step 1: Visit the official website of Zerodha
  2. Step 2: Download and Print the ‘Account Closure Form’
  3. Step 3: Fill in the details in all columns correctly and check on the ‘deactivate account’ option
  4. Step 4: Do your signature as having the sign of the Account Holder on the form is mandatory
  5. Step 5: You will then have to mail your request form to the Zerodha Headquarters on the address given below-

Zerodha HO
153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078

Zerodha Trading Account Opening – Reactivation Process

In case if your Zerodha Trading and Demat Account was deactivated, you can simply get it reactivated by sending a written reactivation request letter attached with your basic KYC details like PAN and Address proof to Zerodha Headquarters. Although, if you had deactivated your Zerodha Trading Account and closed your Demat Account, you will have to fill a ‘Demat Application Form’ available on the Zerodha Website. Zerodha will provide you with a new password for your Trading Account on and your account will get reactivated 5-7 days after Zerodha receives your request form. I hope this makes you clear about Zerodha account opening process end to end.

Please note that there is no online method for getting your Zerodha Account activated again.

Zerodha Account Closing

In case if you have linked yourself with another broker or have stopped using the Zerodha Trading and Demat Account, it is recommended to initiate the permanent closure of your Zerodha Account to avoid application of any Annual Management Charges (AMC) or even risks of misuse of your Zerodha Account.

Additionally, it is important to keep in mind that there should be no securities remaining in your account. You can opt to sell, withdraw or transfer your shares. You will also need to deposit pending dues (if any) before closing your account as a Zerodha Account Closure cannot be initiated with a negative account balance.

Zerodha Trading – Account Closing Procedure (Permanent Closure)

Zerodha Trading Account Closing Procedure Online Process

  1. Step 1: Go to the official website of Zerodha
  2. Step 2: Download the ‘Account Closure Form’ from the website
  3. Step 3: Duly fill in the details. Don’t forget to check on the ‘Deactivate Account’ option in case if you want to temporarily disable your account
  4. Step 4: Next, sign-in to the Digio Website which can be reached by visiting https://www.digio.in/#/index
  5. Step 5: Upload your application form on Digio by clicking on the ‘add document’ button
  6. Step 6: After that, click on the ‘Sign’ button
  7. Step 7: Input your VID which is a temporary number connected to your Aadhaar Number
  8. Step 8: Enter OTP received in the specified column
  9. Step 9: Now your Digital Signature will be attached to the application form
  10. Step 10: Download the form with your eSignature and then raise a ticket on the Zerodha Website.

Zerodha Trading Account Closing Procedure Offline Process

  1. Step 1: Locate and visit the official website of Zerodha
  2. Step 2: Search and Print a physical copy of the ‘Account Closure Form’
  3. Step 3: Fill in the details and check on the ‘deactivate account’ option if you wish to pause your account temporarily
  4. Step 4: Signature of the Account Holder should be necessarily done without forgetting
  5. Step 5: Lastly, send the form to the Zerodha Headquarters on the address given below-

Zerodha HO
153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078

zerodha-account-opening

How to Open Zerodha Demat Account | Zerodha Account Opening FAQs

What is IPV Verification?

IPV Verification is the abbreviated form of in-Person Verification which is a necessary step to be followed by all the brokers.
This step of validation is compulsory for all the Zerodha Account Holders. An IPV Verification is done to verify the originality of the submitted documents in person. IPV Verification earlier used to be done on an offline basis but with upgraded technology, it is now conducted online. For initiating your IPV, visiting the IPV Section on the Zerodha Website.
Then you will need to enter your mobile number and an OTP will be displayed on your screen. You need to write that OTP on a piece of paper, hold it in front of you and then click on the ‘capture’ button to activate the webcam so that verification can be done on a real time basis. Please note that you will have to provide the ‘Camera Access’ to the Zerodha Website.

Can NRI open Demat Account Online?

No, Zerodha does not offers the facility for NRIs to open a Zerodha Demat Account Online. This directly means NRIs cannot apply for Zerodha account opening. Hence, if you are an NRI interested in acquiring a Zerodha Demat Account, firstly you need to have an NRO or NRE Savings Bank Account. Then you will need to download the ‘Demat Application Form’ which can be done by visiting the official website of Zerodha. After that, take out a physical print of the form, duly fill it and attach it with the necessary documents as asked by Zerodha. A Portfolio Investment Scheme (PIS) permission letter from RBI is also needed to open an account with Zerodha. Lastly, you need to mail the form along with the documents to the Zerodha Headquarters to initiate the opening of your Demat Account. The operation of a Demat Account for NRI is the same as that of a resident Indian.

What is Zerodha Kite?

Zerodha Kite is an online trading software created by Zerodha which deals in NSE, BSE, MCX, and MCX-SX. Zerodha Kite is designed with a vision of providing an effective, structured and smooth experience to its Investors and Traders. After you are done with Zerodha account opening, you get access to Zerodha Kite, which is a free software and can be used at three different platforms which are – (a) Kite Mobile App – this application is available for both Android and iOS users and offers a minimal design with all the features as on the web. (b) Kite Web – this website can be accessed through all browsers and offers different features like chartboards, streaming quotes, browser notifications, floating order window, etc. (c) Kite Connect API – Kite Application Programming Interface (API) is provided for other developers who wish to build their own front-end platforms.

Is it necessary to send PoA to Zerodha?

No, it is not compulsory to send PoA (Power of Attorney) to Zerodha. Although, you will only be able to purchase shares on your Zerodha Account and will not be able to sell them if you do not send the PoA to Zerodha. This is because Power of Attorney simply gives Zerodha a lawful right to transact your shares when you sell them. However, by using CDSL TPIN, you can place delivery sell instructions for a maximum of Rs. 1 Crore of sell transactions per day. Additionally, the off-market transaction limitations are Rs. 2 Lakhs per scrip and Rs. 10 Lakhs overall per day.

Can I open Zerodha Account without Digilocker?

It is not possible for Zerodha Account Opening without Digilocker. Digilocker is an online platform created by the Government of India where every Aadhaar Holder can go to access the digital copy format of all of their original government documents. While creating a Zerodha Account, if you don’t have Digilocker, you can still sign-up for it by entering your mobile number on the website. After that, Digilocker will ask you to link your Aadhaar Card with your Digilocker Account. After doing so, you will be able to share your Aadhaar Details with Zerodha by visiting the ‘issued documents’ segment.

Is Zerodha safe?

Absolutely yes. Zerodha is one of the most trusted brokers of India with over 10 Lakh customer base. Started by first-generation entrepreneurs, Zerodha is regulated by Central Depository Services Limited (CDSL) and frequently audited by SEBI. Zerodha has set its pace to success since its launch year. Being a Discount Stock Broker, Zerodha only deals in trading and investing which cuts the risk of Zerodha incurring losses in other domains. Additionally, Zerodha is just an agent depositor to CDSL/NSDL while talking about financial securities in your Demat Account. Hence, even if Zerodha ceases its operations one day, your Demat Account will still remain intact with CDSL. The chances of misuse of your account are also greatly low if you correctly enter your contact details. This is because CDSL/NSDL send an SMS and Email Alert every time a transaction is made from your account. This is why many people prefer zerodha account opening important.

Can I open Zerodha account without income proof?

Yes, you can conveniently open your Zerodha Account without submitting your income proof documents. However, sending an income proof becomes necessary if you want to trade in Future & Options (F&O) – Equity, Commodity and Currencies. Income proof can be sent as Form-16, Income Tax Return Acknowledgement, 6-month Bank statement, latest salary slip or networth certificate from a CA.

How can NRI invest in Zerodha?

The account opening and regulation procedure of an NRI Zerodha Account is the same as that of a Resident Citizen Account. Hence, to open an NRI Zerodha Account, you need to download the ‘application form’ by visiting Zerodha’s official website and fill it in physical form. The application form is required to be attached with these documents – Copy of PAN Card, Overseas Address Proof, Indian Address Proof (if any), copy of passport with birth location in India (if Indian Passport) along with copy of visa, copy of passport with copy of OCI (if Foreign Passport), cancelled cheque of NRO/NRE savings account, declaration of P.O. Box in your country, copy of PIS Permission Letter and a copy of FEMA Declaration and FATCA Declaration form duly filled. The copy of Passport, PAN Card and Foreign Address Proof are required to be self-attested and notarized by either Indian Embassy or any other foreign branch commercial banks registered in India. The concerned authority should affix a stamp of verified original along with name, designation, signature and date on the documents. The above mentioned documents, along with the application form are required to be sent to the Zerodha Headquarters for opening an NRI Zerodha Account with them.

How many days does it take to open a Zerodha Account?

It takes around 2 days for Zerodha to open your account after receiving your application form and documents. A confirmation mail with your user id and a link to set your password will be sent across to you on successful creation of your account. However, you should make sure that the application form filled by you is correct and you should also ensure to attach all the necessary documents as asked by Zerodha. Otherwise, it may delay the process of your account opening with Zerodha.

Can I have 2 Demat Accounts?

No, you cannot have more than one Demat Account with the same name and with the same Stock Broker. Although, it is completely legal to have multiple accounts with different Stock Brokers. Additionally, it is also permitted to link various Trading Accounts with a single bank account as this makes the tracking of all your credit and debit transactions a comparatively convenient process. Moreover, you can also choose to link your different Trading Accounts with just a single Demat Account. This will result in a single roof deposit of all the shares you end up buying from any of the linked Trading Account into your single Demat Account itself.



WhatsApp chat