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5paisa Capital Ltd is one of India's fastest growing discount brokers that offers a full spectrum of financial products such as equity, derivatives, commodities, currency, IPO mutual funds, insurance, etc. The broker is a DP with CDSL to facilitate clients to open demat account with 5paisa. Customers can open a FREE online demat account with 5paisa due to zero account opening charges. However, to trade in different segments, people can also open a 5paisa Trading Account. Thus, by this means, the broker provides a 2-in-1 account including demat + trading account. It further offers a free mutual fund account to enable customers to undertake investment in mutual funds. On this page, check the complete details about 5paisa accounts, online demat and trading account opening procedure, documentation, account modification, closure, and others.
5paisa offers two types of accounts and it is completely up to the investors to choose whatever the type of account they need to open to satisfy their trading & investment requirement.
As the name itself, it is the blend of Trading + Demat + Free Mutual Fund Account. The 2-in-1 account means 5paisa Demat Account and 5paisa Trading Account are linked to each other to provide users a seamless trading experience. Whenever a client buys any security through the trading account, its delivery can be taken to the demat account, however, in case of sell order, the security will be debited from the demat account. Along with this, they will further get a mutual fund account that is completely free. Thus, people who want to trade in equity, derivatives, commodity, currency, and other segments must open an All-in-1-Investment Account with 5paisa.
This is particularly only for mutual fund investors wherein they can open a free mutual fund account with 5paisa and can undertake investment in the direct as well as regular plans. It is noteworthy that with this account, people can’t invest in other financial products.
Every investor takes the account opening decision weighing the associated costs, account opening process, benefits, and other services. There are plenty of reasons to open an account with 5paisa, listed below;
5paisa offers online as well as offline account opening service, among which, customers can select the one of their choice.
5paisa is India's first fintech organization that provides all kinds of financial services digitally. Thus, it is a tech-savvy organization that aims to offer greater ease and convenience to users by providing online account opening services. To open online demat and trading account with 5paisa, below listed steps are required to be followed;
If you’ve all the documents handy, then you can open a demat account online with 5paisa within less than 10 minutes.
Not every investor is familiar or even comfortable with the online process due to less tech-friendliness henceforth, may prefer to open an account offline. Even people who don’t have Aadhaar or if their mobile number is not registered with the Aadhaar then they can open an account by filling forms manually. Under the 5paisa offline account opening procedure, customers have to courier the duly filled and signed account opening form along with the self-attested documents to the broker’s Mumbai office.
5paisa Capital Limited
Sun Infotech Park, 1st Floor,
Plot No.B-23, Road No 16V, MIDC,
Thane Industrial Area,
Wagle Estate,
Thane, Maharashtra 400604
It is noteworthy that 5paisa also arranges Document Pick Up Facility for users wherein a person will come to your address and pick up the courier.
To know the cities where Document Pick Up Facility is available, Click here
You can either download the required account opening forms from the 5paisa website or call the customer service desk to get the form on your registered mail address.
Transaction | Charges |
---|---|
Trading Account Opening Charges | Rs 300 (Rs 500 Cashback as Brokerage) |
Trading AMC | Free |
Demat Account Opening Charges | Free |
Demat AMC | Rs 300 PA |
The document checklist to open 5paisa account is provided here as follows;
Note: Income proof is only required to trade-in derivative means futures & options segment.
If you’ve submitted all the documents and completed the entire account opening formalities then you can check your account activation status anytime through the 5paisa Application Status Tracker.
If you have opened an account online, then it will get activated within a few hours, once after the verification of all the information and supporting documents. However, if in case any discrepancy is found in information provided then the account activation may be delayed.
On the other side, if you’ve opened an account offline then once the broker receives the courier and all the documents are verified, the account will be activated within a maximum of 2 working days. You will receive an e-mail confirmation for the same. In case, if everything went right and the account is not yet activated then you can inquire with the customer supporting staff to know the reason.
Sometimes, users may need to alter or modify their registered account details, it may be anything like their contact details, address, bank details etc. 5paisa has a provision for users to modify such information wherein account holders have to download, print and send the relevant Account Modification Form to the broker.
All kinds of forms whether account opening, modification or closure are available on the broker’s website from where it can be downloaded.
The discount brokerage firm, 5paisa offers account deactivation facility to temporarily freeze their account. You can do this to avoid any AMC charges, once your account gets deactivated, the broker will revoke access to all trading platforms. To deactivate your 5paisa account, you need to send the duly filed account deactivation form – Freeze/Unfreeze request form to the broker.
If you want to reactivate your account anytime, then you can do this too by providing the request form to unfreeze your account. Notably, only a deactivated account can be reactivated but you can’t reactivate a closed or deleted account.
If you are not satisfied with the broker’s services and don’t trade with the 5paisa Trading Account or even moved to another broker, then your account becomes a dormant or inactive account. In order to avoid AMC charges and to avoid the account misuse, you should close your account. Customers can close 5paisa Trading and Demat Account offline following below steps;
Prior to account closure, you must assure following things:
You can download the form from the “Download” section under the “Customer Support” tab of 5paisa website. If you’re unable to find the form online, then you can contact the customer support team to get the form.
5paisa is the fastest growing discount broker in India and its commendable growth can be credited to the flat fee brokerage model. Its all-in-1 Investment Account is one single platform to trade in a number of products i.e. equity, derivatives, commodity, currency, IPO, insurance, etc. People can also avail of an instant personal loan with 5paisa at zero processing fees to meet their financial requirements. Further, Free Mutual Fund Account offering by the broker attracts many investors to open an account with 5paisa. In addition, advanced technology-driven trading platforms & tools, lowest brokerage fee, Robo-advisory, Algo-trading facilities, etc. provide better trading experience to users.
Depending upon your choice, you can open an account with 5paisa either online or offline. The online process is quite easy and facilitates traders to open an account within a few minutes. Unlike this, the offline process takes some time as clients have to fill physical forms and courier the same to the Mumbai head office.
5paisa offers a Free demat account means the broker doesn’t levy any account opening charges. You can further open a Free Mutual Fund Account with 5paisa to invest in MFs.
Currently, there is no promo code available with the 5paisa.
Likewise other brokers, 5paisa also runs a Refer & Earn program wherein by referring any person, you and your friend both will get a benefit of Rs. 250. To get the referral benefits, it is necessary that the person who has opened an account with 5paisa, should either add a minimum margin of Rs. 1,000 within 3 days and maintain it for at least 15 days, or execute the trade worth Rs. 5000 or beyond within 15 days, or activated the Platinum or Titanium trade within 3 days after account opening.
5paisa discount brokerage firm provides account deactivation services. The key benefit of deactivating your account is that no AMC charges will be levied during such period.
To deactivate your account, follow these process;
According to the Freeze expiry date provided in the form, your 5paisa account will be unfreezed or reactivated.
As said, you’re only a MF investor who wants to particularly invest in mutual funds then you should only open a 5paisa Mutual Fund Account and do not open an All-in-1 investment account to save demat AMC and trading account charges. You can open a free mutual fund account with 5paisa at zero charges to undertake investment in direct as well as regular schemes via SIP or lumpsum route. However, it must be noted that 5paisa charges Rs. 10 each transaction for direct MF investment whereas investment in regular schemes is free.
You can open a demat and trading account online with 5paisa on the same day as once documents and all information gets verified by the team, the account will be activated within a few hours. However, if an offline account is opened then the documents verification process takes some time therefore, account activation may take up to 2 days. Anytime, you can check the account application status at the 5paisa website.
5paisa Account Application Status Tracker
To change the details such as mobile number, e-mail, address, bank details, etc. you need to follow the below process;
To open an offline account with 5paisa, one needs to download the account opening forms and send the filled form along with the complete set of documents to the Mumbai address.
The Account Opening Form can be downloaded following the below steps;
There is no online way to close a demat account with 5paisa. So, either you have to contact the support desk of the broker or have to send mail at [email protected] to inform them that you want to close your demat account.
Steps to close 5paisa account:
Opening a demat account with 5paisa is an easy process. You can open an account in just 5 steps, states below:
After opening a demat account, you can trade with 5paisa after 24 hrs, once your account will get activated.
Last Updated on 2022-05-25
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