Zerodha New Account Opening

Hi. I am very new in this field and want to invest in share market. I would like to start my investing in mutual funds through SIP. Now I have some confusions which I want to clear before opening an account with Zerodha

  1. The yearly maintenance charge is almost Rs 500 if I remember correctly. Now, do I have to pay this amount on Financial year basis ? For example, If I open an account now, then I have to play Rs 500. Do I have to pay again at April when new financial year will start ? Or I have to pay at Feb of 2019?

  2. If I start a direct SIP or invest a lumpsum amount through mutual fund, can I sell it any time I want after few months ? Is there any charges if I do that ?

  3. Suppose, I am running a SIP of 5 yrs. After 5 yrs, I may wish to continue it further 2-3 years ? Can I continue the same SIP or I have to start again ?

  4. Can I transfer all my current mutual funds , SIP, stock to a different broker (e.g SherKhan, HDFC securities) from Zerodha?

1-It’s account opening charges 500 = 300(trading+demat=equity account) + 200 (commodity). AMC charges for demat account are 300 for financial year. If you open demat account now it will be calculated in pro rata basis
2- if there is no lock-in period for mutual funds you and withdraw it any time.
3- you can start a new SIP again.
4- Yes, you can. Below are the different scenarios

Purchased regular plan funds in demat mode: straight forward, in this case, ask your other broker to give you DIS slip. Mention the units you have to transfer, mention your Zerodha demat account number and submit it back to the broker. Within 24 hours, the units get transferred.

Purchased regular plan funds in non-demat mode: little tricky in this case. You will have to come to us and ask us to dematerialize your mutual fund investments using this form. Once dematerialized, it will start showing up in your demat account with us.

What you need to know though is that by transferring your regular plan funds to Zerodha demat, it doesn’t become direct. They still remain regular plans. To switch from regular to direct, you will essentially have to still exit the regular plan fund and reinvest in direct on Coin. In which case, it probably makes sense to just exit the investment wherever you hold the fund and buy it afresh on coin.

Hi Kalyan,
I don’t understand your some points.

  1. If I pay AMC charges for Demat account (e.g Rs 300) now, when I have to pay that again ? On April 2018 or Feb 2019 ?

  2. If I continue a SIP for several year, can I sell partial Unit or I have to withdraw whole unit ?

  3. Suppose I start a SIP for 5 years, after 5 years, I decided to continue it for more 2-3 years ? Can I continue the existing SIP or have to start new ?

AMC is charged on a pro-rata basis at the end of each financial year.

Yes, you can sell partial units.

You can continue the exisitng one.

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If you are still confused & want to know much more about zerodha account opening process, check out: Zerodha account opening

Hope this help!

To open a zerodha account offline mobile number has to be linked to aadhar?

Aadhar card is not needed to open an account offline. We have explained the process for offline account opening here.