5Paisa Online Account Open Process, Forms and Fees
5paisa, headquartered in Mumbai, is a discount stock broker providing online stock trading services to retail customers with a highly competitive flat-rate brokerage. Established in 2016, it has quickly gained the trust of numerous investors and traders due to its low-cost brokerage plans. The platform has become a preferred choice for those seeking cost-effective and efficient online trading services in India.
The 5paisa account opening in 2024 offers an all-in-one (Trading + Demat) account, allowing you to trade and invest across various segments such as stocks, mutual funds, commodities, currencies, F&O, bonds, gold, insurance, and more.
If your focus is solely on mutual fund investments, you also have the option to open a Mutual Fund account with 5paisa. Importantly, there are no demat account opening charges associated with 5paisa, making it a cost-effective choice for investors.
Charges for opening an account with 5 paisa are written below:
| Transaction | Charges |
| Trading Account Opening Charges | ₹0 (Free) |
| Account AMC Charges | ₹0 (Free) |
| Demat Account Opening Charges | ₹0 (Free) |
| Demat AMC (Yealy) | ₹300+GST |
5paisa is listed on both the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange). The platform has garnered numerous awards and recognition for its outstanding services. Operating on a transparent fee structure, 5paisa charges a flat ₹20 per executed order. With over 50 lakhs users, 5paisa boasts a large user base for its applications. The platform is known for providing a top-notch and advanced trading and investment experience. In this article, we’ll delve into the requirements for opening a 5paisa account.
Types of 5Paisa Account Open in India
In India, 5paisa offers two types of accounts for opening:
- 2-in-1 Account:
- This account combines both trading and demat facilities.
- Mutual Fund Investment Account:
- Specifically designed for those interested in investing in mutual funds.
The account opening process with 5paisa is streamlined and paperless. Typically, it takes around an hour to activate your account once you’ve submitted the online application along with the necessary supporting documents.
Documents Required for 5paisa Account Opening
- PAN Card Details: Provide details from your PAN Card.
- Address Proof: Submit a document such as Passport, Voter ID, Bank statement, Ration Card, etc., to verify your address.
- Bank Proof: Furnish either a cancelled cheque or a bank statement.
- Income Proof: Include a copy of your Annual account, Form 16, etc., to validate your income.
- Specimen Signature: Necessary for offline transactions in case of digitally signed applications.
Ensuring you have these documents ready will facilitate a smooth account opening process with 5paisa.
5Paisa Account Opening Documents
For open an account with 5paisa, you’ll need specific documents. Here’s what you’ll need:
- PAN Card details: Make sure you have your PAN Card details ready.
- Address Proof: Provide a document that shows your address. This could be your Passport, Voter ID, Bank statement, Ration Card, or similar documents.
- Bank Proof: Submit either a cancelled cheque or a bank statement.
- Income Proof: Include a copy of your Annual account or Form 16 to verify your income.
- Specimen signature: This is needed for offline transactions in case you’ve digitally signed your applications.
Make sure you have these documents ready when you’re opening your account with 5paisa.
How to Open 5Paisa Account Online?
Opening a 5paisa account online is a straightforward and paperless process. Here are the steps to follow:
Steps for 5paisa Online Account Opening:
- Personal Details:
- Fill in essential personal details such as PAN Number, Date of Birth (DOB), and Aadhar number.
- Bank Details:
- Enter your bank details, including your Account number and IFSC code, to swiftly fetch your bank information.
- Document Upload:
- Upload all necessary documents, including PAN card, Address proof, Bank details, and a recent photograph.
- Payment:
- Proceed to the payment page to cover the account opening charges. You can also specify an amount to begin trading.
- Review and Sign:
- In the final step, review the form, and sign it digitally using Aadhar. Your account will be swiftly opened after verification by 5paisa.
Note:
- If you don’t have an Aadhar card, a physical signature will be required, and you’ll need to upload a scanned copy of your signature.
By following these steps, you can easily open a 5paisa account online and start your trading journey.
5Paisa Account Opening Benefits
Here are the benefits of opening a 5paisa account:
- Low Transaction Cost: 5paisa charges a nominal fee of ₹20 per executed order, making it cost-effective for your trades.
- Flexible Trading and Investment: Enjoy advanced trading and investment features from anywhere, whether it’s on your mobile, desktop, or through the call center.
- Direct Mutual Fund Services: 5paisa offers direct mutual fund services, enabling you to save more on your mutual fund investments.
- Instant Profit and Loss Reports: Receive immediate reports on your profit and loss, accompanied by suggestions to minimize risk and enhance performance.
- Cutting-Edge Tools and Tips: Benefit from the latest advanced tools and innovative tips provided by a high-level research team to stay ahead in your investment strategies.
- Paperless Commodity Account Opening: Opening a commodity account with 5paisa is a hassle-free, paperless procedure done online.
- Margin Funding Facility: The 5paisa account opening in India provides the convenience of margin funding, allowing you to leverage your investments.
How to Open Free Demat Account in 5Paisa?
To open a free demat account with 5paisa, follow these steps:
Online Account Opening:
- Start by completing the online account opening process on the 5paisa website.
- Upload the necessary documents for verification.
- Once your documents are successfully verified, you’ll receive a pre-filled form via email. If any document is rejected, resubmit it to clear the rejection.
Offline Account Opening (if you don’t have Aadhar or it’s not linked to your mobile number):
- Complete the Online Account Opening Process as mentioned above.
- Upon successful verification, receive the pre-filled form via email.
- Print the form, sign it 23 times, and self-attest on all the documents.
- Courier the form to the 5paisa Thane Office at IIFL House, Sun Infotech Park, Road No.16V, Plot No. B-23, MIDC, Wagle Estate Rd, Industrial Area, Thane, Maharashtra 400604.
- Once the form reaches the Registered Office, your account will be processed, and if all documents are successfully verified, your account will be opened within 24 hours.
Additional Information:
- Download the 5paisa account open modification form from the official website if you need to make any changes to your account.
- Note that the document pick-up facility for the offline account opening process is no longer available.
Follow these steps, and you’ll be on your way to opening a demat account with 5paisa.
5Paisa Account Open Status
The status of your 5paisa account opening typically depends on how you submit your documents:
Online Account Opening: If you complete the account opening process online with all the necessary documents and information in order, it usually takes around 1-4 hours to activate your account.
Offline Account Opening (Couriered Form): If you choose to courier the paper form to 5paisa, the account opening process may take a maximum of 2 working days after they receive the forms.
If, after this time frame, you haven’t received a welcome email, it’s recommended to get in touch with the 5paisa support team. They will be able to provide you with the current status of your account opening process.
5Paisa Account Open Minor Demat
To open a 5paisa account for a minor, you will need the following documents:
- Address Proof: Document confirming the address.
- Aadhar Card of the Minor: Aadhar card of the child.
- Aadhar Card of the Guardian: Aadhar card of the adult overseeing the minor’s account.
- Age Proof of the Minor: Birth certificate or a document verifying the minor’s age.
- Photographs of the Minor: Pictures of the child.
- Photographs of the Guardian: Pictures of the adult guardian.
- PAN Card of the Minor: PAN card of the child.
- PAN Card of the Guardian: PAN card of the adult guardian.
- Specimen Signature of the Guardian: Sample signature of the guardian.
Make sure you have all these documents ready when opening a 5paisa account for a minor.
How to Activate 5Paisa Account?
To activate your 5paisa account, follow these steps:
Website Platform:
- Visit the 5paisa website.
- Click on the three horizontal lines near the Login option.
- Select “Online Account Opening Status.”
- Log in with your credentials to check your account activation status.
Mobile Platform:
- Log in to the 5paisa Mobile App.
- On the dashboard, click on “Account Opening in Progress.”
- You’ll also receive SMS or Email Alerts regarding your account activation.
Note: If any document is pending or rejected, you can upload the necessary documents through the 5paisa Mobile App or website to expedite the activation process.
5Paisa Account Opening Time
If you’ve opted for offline account opening with 5paisa and submitted your application along with the required documents, it generally takes up to 24 hours for your account to be activated. However, it’s important to note that any discrepancies in the submitted forms or documents may cause delays in the account opening process.
Once your account is successfully opened, you can log in to your 5paisa account using the provided login credentials. If you encounter any issues or have questions about the status of your account opening, you can reach out to 5paisa customer support for assistance.
5Paisa Account Open Refer and Earn
Invite your friends to join 5paisa and enjoy fantastic rewards!
What You Get When Your Friend Opens a 5paisa Account:
- ₹200/- FREE Credit
- 12.5% Brokerage sharing on every referral
- Receive ₹5000 worth of Vouchers from Top Brands with your first-ever referral
What Your Friend Gets on Successful Account Opening:
- 100 Points
- ₹2000/- worth Vouchers from Top Brands
It’s a win-win – you benefit, and your friend gets exciting perks too! Start referring and earning with 5paisa.
Frequently Asked Questions (FAQs)
What documents are required to open a 5paisa account online?
To open a 5paisa account online, you typically need your PAN card details, address proof (like Passport, Voter ID, Bank statement), bank proof (cancelled cheque or bank statement), income proof (Annual account, Form 16), and a specimen signature.
Is the 5paisa account opening process completely paperless?
Yes, the 5paisa account opening process is entirely paperless when done online. You can fill out the forms, submit documents, and sign digitally.
How long does it take to activate a 5paisa account online?
The activation of a 5paisa account online usually takes around 1 to 4 hours, provided all the required documents and information are submitted correctly.
Can I open a 5paisa account without an Aadhar card?
Yes, you can open a 5paisa account without an Aadhar card. If Aadhar is not available, a physical signature will be required, and you’ll need to upload a scanned copy of your signature.
What types of accounts can I open with 5paisa?
5paisa offers a 2-in-1 account (combined trading and demat) and a Mutual Fund Investment Account for those focused solely on mutual fund investments.
How can I check the status of my 5paisa account opening?
You can check the status of your 5paisa account opening by logging in to the 5paisa website or mobile app. On the website, click on “Online Account Opening Status,” and on the app, check the “Account Opening in Progress” section.
Are there any charges for opening a 5paisa demat account?
No, there are no charges for opening a 5paisa demat account. The process is free of cost.
Can I modify my account information after the 5paisa account opening process?
Yes, you can modify your account information by downloading the 5paisa account modification form from the official website and following the provided instructions.