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You can convert your Non-Resident Indian (NRI) demat account to a resident demat account by couriering the account modification forms, identity documents, address and bank proof, and a ₹500 account opening fee (by cheque) to Zerodha. If you hold both an NRE and an NRO account, you can only convert one of them to a resident demat account. Choose which account you want to convert, and close the other through the standard closure process. Your holdings from the closed account will be transferred accordingly.
Your login credentials stay the same. The conversion takes up to 7 working days, during which you cannot access Kite but can view your holdings through CDSL Easi.
Required documents
- Account modification form (PDF), sample copy (PDF).
- Annexure B (PDF), which updates the name in your demat account to match your latest documents, sample copy (PDF).
- Nominee page (PDF) (Optional): Addition or modification of nominee details, sample copy (PDF)
-
Annexure 1B
(PDF)
(Optional): Removal of nominee details, sample copy
(PDF)
- PAN copy (Self-attested).
- Indian address proof (Self-attested) (any one of the following): Driving licence, passport, voter ID, or masked Aadhaar.
- Bank account proof to link your bank account with Zerodha, which can be either a personalised cancelled cheque with your name printed on it, or a bank statement or passbook copy showing the account number, MICR, and IFSC code clearly (Self-attested).
Income proof for F&O
If you want to trade in Futures and Options (F&O), submit income proof. This can be any of the following:
- Bank statement for the last six months with an average balance above ₹10,000
- Latest salary slip with a gross monthly income above ₹15,000
- Income Tax Return (ITR) acknowledgement with a gross annual income above ₹1,20,000
- Form 16 with a gross annual income above ₹1,20,000
- Net worth certificate above ₹10,00,000
- Latest statement of demat holdings with a current value above ₹10,000 (your holdings must not be pledged)
- Latest Fixed Deposit (FD) receipt with a deposit amount above ₹1,00,000
Name or signature mismatch
For a minor name mismatch between your documents and your account, submit a self-declaration (PDF). For a major name mismatch, modify the name in your existing account. For a signature mismatch, modify the signature in your existing account. If your current signature does not match your previous KYC records, provide a Banker's signature letter (PDF) from your bank (Indian or overseas).
Steps to convert your account
Once you have prepared the documents above, follow these steps.
- Ensure all signatures match your existing signature proof. To find it, visit console.zerodha.com/account/documents, select Signature proof in the drop-down menu, and click on E-mail to me.
- Email your completed documents to [email protected] and make any corrections Zerodha requests.
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Complete In-Person Verification (IPV):
- Visit signup.zerodha.com/ipv.
- Note the 4-digit one-time password (OTP) on the screen, enable your camera, and show the OTP while you are clearly visible.
- Courier the documents and a ₹500 cheque (payable to Zerodha Broking Limited) for the account opening fee to:
Zerodha Customer Support Centre
192A 4th Floor,
Kalyani Vista, 3rd Main Road,
JP Nagar 4th Phase,
Bengaluru, 560076
If you have no holdings in your existing demat account, you can close it through Console and open a resident account online instead.