DEMAT ACCOUNT WITH ZERODHA
Zerodha is India’s first-ever and most popular discount broker, with regards to volume and growth. It offers concessions for demat as well as trading accounts to its customers. A demat account is used to uphold stocks and scripts with investors. In other words, a Demat account allows the investor to store shares in a digital form. The process to open a demat account is seamless and requires a few documents to be kept handy.
How to open a demat draft account with zerodha
The process of opening an online demat account is a 10 step process, listed below:
- Visit the Zerodha website and navigate over the Zerodha demat account opening page.
- Enter mobile number for signing up, an OTP will be sent to the phone number provided. The phone number should be registered with your Aadhar Card.
- Enter the OTP to verify the details.
- Once logged in, enter PAN number and Date of Birth to start the application.
- For online payments company gives two options to choose between, Only equity and other is for Derivatives, commodities and forex,, both with varying rates. A user can choose to open either an equity account or a commodity account. The rates for the two are: Equity Account: Rs. 200 Commodity account: Rs 100 Payment can be done via net banking, UPI, credit card, or debit card, as per the convenience. The purchase receipt will be sent to the registered email id.
- Provide bank information- the following bank information needs to be provided, Branch IFSC Code Bank account number. The information can be found on the user’s cheque.
- Once financial information is provided, some background information, including personal information like occupation, father’s name, and mother’s name is required.
- Once all the information is fed in, IPV Verification takes place. The In-person verification is a guideline for opening a demat account, set up by SEBI. All traders must follow the IPV step. If PAN card is verified by KRA, this step can be skipped. The user will see an OTP on the screen and is required to note down the OTP on a piece of paper and hold it in front of the webcam or mobile front cam, as per convenience. Don’t forget to save the picture!
- The next step requires details of Aadhar card and verification of OTP.
- Once Aadhaar card e-sign is done, upload all the documents for online verification.
- The e-sign process requires OTP verification through Aadhar card with Registered phone number.
- For the final step, the sales team at Zerodha authenticate the documents and the user receives an email along with a demat Power of Attorney (POA). according to mandatory SEBI norms, POA needs to be downloaded, printed, and physically signed by the user and sent to Zerodha office via post/courier.