Zerodha is on the top of the list when it comes to the largest and the best discount brokers in India. It’s among the cheapest and most technologically advanced stockbrokers with providing GTT order in trading to its traders. So, before we dive deep into how to open your Demat account on the Zerodha platform, let’s look into the advantages of opening your Demat account with this safe, trustworthy, and reliable broker in India. Get the complete guide on to open a Demat account from the LearnApp education feature here.
Below Are the Main Reasons Why You Need to Open Demat Account on Zerodha:
- A maximum brokerage of 0.03% or Rs 20/order is charged on Zerodha (whichever is lower)
- Up to 20x leverage is offered on intraday trading
- No upfront fees
- Brokerage calculators that help you calculate
- Free for the equity delivery trades
- Get an advanced partner and proprietary trading platforms
- You get to save 86 to 90 percent when it comes to brokerage fees
- The platform is apt for all kinds of traders
- Offers Coin: the platform to purchase commission-free mutual funds
- Offers Console: a revolutionary back office, analytics, and reporting suite
Steps for Demat Account Creation on Zerodha
From the Zerodha Demat account review, we found that opening a Demat account with the Zerodha platform is very simple, quick, and hassle-free. Let’s have a look at the steps to follow to open a Demat account:
Opening A Demat Account Online With Zerodha
If you are new to Zerodha, you should know that you can open your Demat account with this platform online, Below is the steps to follow:
- Visit the official website of Zerodha and proceed to the account opening page.
- Enter your mobile number to sign up.
- You will receive an OTP on your mobile number which you will need to enter to verify your details.
- Enter name, email id, date of birth, and PAN Card details.
- Pay the Demat account opening fees to proceed further.
- Connect Aadhaar with Digilocker.
- After Aadhar verification, enter bank details.
- Complete Zerodha IPV verification over the phone or webcam.
- Submit your signature. You can either do this digitally using Aadhar or print and courier the form.
- Scan all the required documents and submit them.
- Next click on the eSign Equity.
- Enter the code that you get on your entered mobile number and click submit.
- On the next window, enter the Aadhar number and click on the “Request OTP” button.
- Download the POA form for the Demat account. Fill the required details in it and post or courier it to the Zerodha office.
Opening a Demat Account Offline With Zerodha
As per the differentiate Zerodha & Karvy, it offers the facility to open a Demat account offline as well for those not so tech-savvy users. To fill the Demat account opening form offline:
- Download the Demat account opening application form from Zerodha’s official website.
- Fill and sign it.
- Attach copies of all the required documents.
- After filling the application, courier or post it to Zerodha’s post office.
Documents Required to Open Demat Account on Zerodha
If you are planning to open your Demat account with Zerodha, We found the complete list of documents from broker comparison that you need If you are planning to open your Demat account with Zerodha
For Opening Your Demat Account Online:
- PAN Card
- Aadhar Card
- Bank Statement/Canceled cheque
- Scanned copy or photo of signature proof
- Income proof as in ITR acknowledgement/ Form-16/ Latest Salary Slip/ 6 months bank statement/ Demat holding statement.
For Opening Your Demat Account Offline:
- PAN Card
- Address Proof (Voter ID/ Driving License/ Aadhar Card/ Passport/ Bank Statement)
- Income Proof (ITR acknowledgement/ Form-16/ Latest Salary Slip/ 6 months bank statement/ Demat holding statement)
- Canceled cheque/ Bank statement
Charges of Demat Account on Zerodha
Account opening charges at Zerodha is Rs 200 for opening an account online. But if you open an account with the broker offline, it will charge you Rs 400. The AMC for Demat account at Zerodha is Rs 300/year.