5paisa Account Opening Process (Online & Offline Process Explained)
5paisa is one of the famous discount brokers in India & renowned due to its very low brokerage charge. They are one of the fastest-growing discount brokers established in 2017 by the IIFL group. 5paisa has set up online procedures for the account opening process using Aadhar so you can proceed with the 5Paisa account opening process online.
They currently hold 2nd top discount broker in India after Zerodha on a client basis. They charge only Rs. 10 per executed trade, which is one of the lowest brokerage charges in the stockbroker industry.
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Types Of Account Offered
They offer two types of account:
- Demat and trading account (2 in 1 account): This account allows you to directly invest in the stock market along with that you can also invest in mutual funds form this account.
- Mutual fund investments account: This account only allows you to invest in mutual funds, but you can’t invest in the stock market directly. Those people who do not get too much time for a stock investment and money management can invest in the mutual fund through this account.
How To Do 5paisa Account Opening Process?
5paisa allows you to open your Demat & trading account fully online using aadhar. In case, if you don’t have aadhar or your aadhar is not registered with your mobile number then you can opt for an offline account opening process.
5paisa Account Opening Documents
You need these documents to open an account demat & trading account:
- Pan Card
- ID Proof – Voter ID, Aadhar card.
- Bank Proof – Personalize Cancelled Cheque Or Passbook or Latest bank statement
- Income proof for Derivatives (Optional) :- (ITR/ latest 1 month Salary Slip/ 6 months
- Bank statement with IFSC and MICR code /Form 16/ Demat account holding statement)
- Specimen Signature
5paisa Account Opening Charges
You need to open pay Rs. 650+GST for opening a demat & trading account. Nowadays 5paisa offers a free demat & trading account.
5paisa charge Account maintenance charge (AMC) of 400 Rs. per year (charged on a pro-rata basis).
Online 5paisa Account Opening
You can open your account online within half an hour using aadhar E-Sign assuming you have all the required documents handy. Before explaining the steps you needed to follow for account opening, let me explain what are all documents you will be required to open an account in 5paisa.
You need to follow the below mentioned step-by-step process to open your demat & trading account.
| Step 1 | Fill in your personal details |
| Step 2 | Fill in your bank details |
| Step 3 | Make payment |
| Step 4 | Upload your documents |
| Step 5 | E-Sign your form |
Now you’ve got a basic outline for the account opening process. Next, you just need to visit the 5paisa website to process for account opening you can just follow the instruction mentioned above. Just after you sign up for account opening you will get a call from their customer care executive for further processing.
Offline 5paisa Account Opening
In the case of an offline account opening, you need to download the account opening form. You will have to print out the account opening forms, fill it up and sign it. You can request a callback for the account opening. You will be assigned a sales manager who will help you in filling out the application form.
The company Sales representative will contact you to help with the account opening process.
Once you fill it up and sign it, you have to courier forms to the below address:
5paisa Capital Limited
Sun Infotech Park, 1st Floor,
Plot No.B-23, Road No 16V, MIDC,
Thane Industrial Area, Wagle Estate,
Maharashtra-400604
FAQ (Frequently Asked Questions)
Is 5paisa is safe?
Yes, 5paisa is a safe & trusted stockbroker in India. They are SEBI registered brokers & have Depository account with CDSL. When you purchase any shares, it will be stored in your DEMAT account. In case, If there is any issue with 5paisa, your shares are still safe in your CDSL.
What is the minimum required investment in 5paisa?
There is no minimum or maximum amount limit for your account & purchase of a share.
Can I open more than 2 accounts with 5paisa?
No. You can’t open more than one demat account with a single broker. You can have multiple trading and demat accounts with different brokers. You can open only one demat & trading account with a single broker.
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