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Zerodha Account Types
Zerodha offers various types of accounts to cater to different trading needs:
Trading Account: This account is essential for trading in equity and currency derivatives. It allows users to buy and sell stocks on recognized exchanges like NSE and BSE.
Demat Account: A demat account is necessary for holding securities in electronic form. It is required for investors who wish to take delivery of stocks.
Commodity Account: This account is specifically for trading commodity futures on exchanges like MCX. It allows traders to engage in commodity trading without needing a demat account.
2-in-1 Account: Zerodha also offers a combined trading and demat account, which simplifies transactions between the two accounts.
Zerodha Broker Account Opening Process
Opening an account with Zerodha is a straightforward process that can be done online or offline. Here’s a step-by-step guide for the online process:
Visit the Zerodha Website: Go to Zerodha's official website.
Sign Up: Click on the "Sign Up" button and enter your mobile number. You will receive an OTP for verification.
Email Verification: After verifying your mobile number, you will need to verify your email address by entering the OTP sent to your email.
Enter Personal Details: Provide your PAN number and date of birth, then click continue.
Payment: Pay the account opening fee of ₹200 for equity trading or ₹300 for both equity and commodity accounts through UPI or net banking.
Aadhaar Verification: Connect your Aadhaar details via DigiLocker. You will need to log in to your DigiLocker account or create a new one.
Provide Personal Information: Fill in additional personal details, including marital status, parental information, and income details.
Link Bank Account: Enter your bank account details, including IFSC code and account number.
In-Person Verification (IPV): Complete the IPV by recording a video showing your face and the OTP written on a piece of paper.
Document Upload: Upload required documents such as PAN card, Aadhaar, canceled cheque, signature proof, and income proof (if applicable).
E-signing: Complete the e-sign process for your application.
Once all steps are completed, you will receive an email with your login credentials within 24 hours.
For offline account opening, you can download the application form from the Zerodha website, fill it out, and send it to their office along with the necessary documents. This process typically takes 2-3 days.