Zerodha Account Opening Charges in 2024: Review, Details, Documentions

Zerodha Account Opening Charges: Zerodha, a discount stock broker, provides trading services across Equity, Derivatives, Commodity, and Currency segments at BSE, NSE, and MCX for Indian investors. Established in 2010, Zerodha revolutionized the brokerage industry by introducing a discounted brokerage model, leveraging online trading technology to keep costs low.

In just three years, it successfully disrupted the traditional brokerage sector. As of January 2024, Zerodha holds a significant market share, accounting for over 19% of trades on the BSE and NSE. While its core focus is on equity and commodity trading, Zerodha has expanded its offerings to include ancillary services such as depository services (demat accounts) and mutual funds.

Zerodha Account Types

To trade or invest with Zerodha, you need to open a trading account and, if you plan to take delivery of stocks, a demat account. The demat account is optional for those who want to trade exclusively in derivatives.

Zerodha provides three types of accounts:

  1. Trading account for equity and currency derivatives.
  2. Demat account for stock delivery.
  3. Commodity account for trading commodity futures on MCX.

Additionally, they offer a 2-in-1 account, which combines the trading and demat accounts for seamless and automatic transactions between the two. While one customer account grants access to all segments, you can enable each segment separately during the account opening process or at a later time.

Zerodha Account Opening Charges 2024

Zerodha offers different account opening charges based on the type of account and whether you choose an online or offline process:

Individual Account:

  • Online Account Opening:
    • Equity Segment: Rs 200
    • Equity and Commodity Segments: Rs 300
  • Offline Account Opening:
    • Equity Segment: Rs 400
    • Equity and Commodity Segments: Rs 600

Other Accounts (NRI, Partnership, LLP, HUF, or Corporate):

  • Offline Account Opening:
    • Equity Segment: Rs 500
    • Equity and Commodity Segments: Rs 800
Please note that certain account types, such as NRI, Partnership, LLP, HUF, or Corporate accounts, can only be opened through the offline process.

What documents required to open a Zerodha Demat/Trading Account?

To open an account with Zerodha, you’ll need the following documents:

Sure, here are the simplified requirements for opening a Zerodha account, based on whether you choose to open it online or offline:

For Online Account Opening:

  • PAN card
  • Aadhaar (Make sure your mobile number is linked to it)
  • Cancelled cheque or bank statement
  • A photo
  • Proof of income (Options include Form-16, IT acknowledgement copy, 6-month bank statement, or your latest salary slip)

For Offline Account Opening:

  1. Fill out the application form.
  2. Attach the required supporting documents, which include:
    • PAN card
    • Cancelled cheque or bank statement
    • A photo
    • Proof of income (such as Form-16, IT acknowledgement copy, 6-month bank statement, or your latest salary slip)
  3. You’ll also need to provide a cheque for the account opening charges.

For either option, you can request assistance from Zerodha’s account opening team by asking them to call you back. This way, you can get the help you need to complete the process.

How to open Zerodha Account Online?

Online Account Opening (if Aadhaar is linked to your mobile number):

To open your account online, you can follow these steps:

  1. Visit signup.zerodha.com.
  2. Complete the online form following the on-screen instructions.
  3. Make sure you have the necessary documents ready, which include:
    • Self-attested copy of your PAN card with your signature.
    • A scanned copy of your signature, using a black or blue ballpoint or ink pen.
    • Aadhaar card with the first 8 digits blacked out, leaving only the last four digits visible.
    • Ensure your mobile number is linked to your Aadhaar.
    • Provide a bank proof in your name, which can be a personalized cancelled cheque, bank statement, bank passbook copy with your bank account details.
    • If you plan to trade in Futures and Options (F&O), you’ll need to submit income proof, such as a bank statement with an average balance exceeding ₹10,000 for the last six months, the latest salary slip with a gross monthly income exceeding ₹15,000, ITR acknowledgment with a gross annual income exceeding ₹1,20,000, Form 16 with a gross annual income exceeding ₹1,20,000, a certificate of net worth exceeding ₹10,00,000, or a statement of demat holdings with a current value exceeding ₹10,000.

Please note: The online account opening process usually takes up to 72 working hours. You’ll receive an email with your user ID once the account is successfully opened.

If your mobile number is not linked to your Aadhaar, you’ll need to follow the offline account opening process. For more details, you can refer to the guide on “How to open a Zerodha account offline.”

How to Open Zerodha Account Offline?

If your Aadhaar number isn’t linked to your current phone number, you’ll need to open a Zerodha account through the offline process, which involves paper forms. Zerodha charges a fee of Rs 400 for offline account opening. Here are the steps to open an account offline:

  1. Download the PDF Account Opening Form for Equity and Commodity Trading.
  2. Print the form.
  3. Fill in all the required details.
  4. Sign the form.
  5. Attach the necessary documents.
  6. Send the completed forms via courier to the Zerodha office.

Once Zerodha receives the forms, their team will review the documents and information provided. If all the required details are in order, your account should be opened within two days.

https://youtu.be/soUl95uXny0?si=89cVz2nqiTlkMhUh
Zerodha Account Opening (Source: Kamao Aur Kamane Do)

Why Zerodha is India’s Most Popular Stock Broker?

Zerodha stands out as a top stockbroker in India for several reasons:

  1. Leading in the Industry: Zerodha is the go-to choice for many investors. It has the most active clients, handles significant market volume, and continues to attract new customers.
  2. Dependable and Safe: Zerodha is renowned for its reliability and trustworthiness. You can count on them to safeguard your investments.
  3. User-Friendly Trading Tools: Zerodha provides easy-to-use online trading tools that cater to all types of investors, from beginners to seasoned traders.
  4. Low Costs: When you trade in equities and mutual funds, Zerodha doesn’t charge brokerage fees. For other trades, the maximum brokerage is just Rs 20 per transaction, helping you save significantly compared to traditional brokers.
  5. Intraday Leverage: Zerodha offers up to 20x leverage for intraday trading, allowing you to amplify your trading potential.
  6. Direct Mutual Funds: You can invest in mutual funds with zero commission through Zerodha.
  7. Advanced Technological Solutions: Zerodha leads in tech innovation with user-friendly trading apps like Zerodha Kite and platforms like Coin for mutual fund investments. They also provide resources like Varsity for investor education.
  8. Diverse Tools: Zerodha offers a range of tools, including thematic investments through Smallcase, algo trading with Streak, options trading with Sensibull, bond trading via GoldenPi, and insurance through Ditto.

In summary, Zerodha is a trusted stockbroker in India, offering user-friendly tools, low costs, and a variety of investment options for all types of investors.

FAQs

Q. What is the fee for Zerodha account opening?

Zerodha account opening fees is 200 INR for Online and 400 INR For Offline.

Q. How long will it take to open Zerodha account?

Zerodha take 2-3 days to open an account by online and 4-7 days to open an account by offline.

Q. What is the process of opening Zerodha?

To open a zerodha account, follow the 3 simple steps:
1. Visit Zerodha Official Website.
2. Fill the details and upload documents.
3. Do you kyc and after that your account will be opens in 2-3 days.

Q. Do I have to keep a minimum balance in my account?

No, there is no minimum balance requirement for opening or maintaining a Zerodha account.

Q. Is zerodha has a fixed monthly charge?

No, there is no fixed monthly charge for Zerodha accounts.

Q. Do I have to pay for software uses?

No, all trading software and tools provided by Zerodha are free to use. However, you may need to pay for access to partner products, such as technical analysis software or trading signals.

Q. How much is the demat transaction changes?

Zerodha charges a demat transaction charge of Rs 13.5 per script per day on sell transactions.

Q. How does Zerodha charge so less brokerage?

Zerodha is able to charge such low brokerage fees by using the latest technology and keeping its costs low. It also benefits from economies of scale, as it is one of the largest stock brokers in India.

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