Posted on 2nd Jul 2018
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This article cover below frequently asked queries -
Now you can open online trading and demat account with Zerodha using your Aadhar Number. This is paperless and hassle free account opening process.
After aadhar integration, you can open your trading and demat account online. This process takes 15 to 30 minutes. To start with, you need to have your PAN card number, Aadhar Number integrated with your primary phone number to get OTP, canceled cheque to upload as your bank verification and to get branch IFSC code and account number, Income Proof (optional) and picture/scanned copy of your signature on white paper for digital signature.
Note:Due to some changes in UIDAI policies, Now UIDAI is not offering eKYC verification. This is not limited to Zerodha, UIDAI decision is for all the vendors.However good news is,Zerodha technical team has found an alternative solution for this. This has included few extra steps in your Aadhar verification. Now you need to register on https://digilocker.gov.in/ and if you are registered user of this site, you need to allow Zerodha to access your information. If you are not register user, you need to registered with digilocker which is 2 step processes.
With this, your Aadhar basic information (photo, name, DOB, Address, email) has been shared with Zerodha and next steps are same as it was previously.
Process of opening online account with Zerodha is quick and easy if you are techno friendly guy. The process is smart enough to get your personal details from Aadhar database so you don't have to type your name, address and so on. You just need to enter your PAN number, Aadhar number, some extra information like Marital Status, father and mother's name, bank Information and few OTPs. With this you are able to complete around 40+ pages application with 40+ signatures online(Digital).
As there is minimum third party intervention to complete this process, some time its make things challenging for people with limited computer skills. Online payment process needs access of your net banking/debit/credit card information, Aadhar verification process need OTP to get your personal information and digital signature on application (eSign) also need OTP. So working on multiple OTP verification make this process bit complex. Other then above technical part, submitting online application is quiet simple and hassle free.
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