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Why has my application to open an account been rejected?

If any of the documents required to open an account are missing/not sent the application will be rejected and you’ll have to send the required documents over.

Other than this, rejections relating to documents or form submissions may arise due to the following points as mentioned below:

With respect to PAN:

  • Your photo in the copy of PAN you have provided us is unclear - You’ll have to send us a clear photocopy of your PAN card in which your photo is clear. 
  • The photocopy of your PAN card is unclear - You’ll have to send us a clear photocopy of your PAN card. 
  • The photocopy of the PAN you have provided is not self-attested - You’ll have to send us a self-attested copy of your PAN. 
  • There is a name mismatch between your PAN and address proof - You’ll have to submit a self-declaration letter in order for us to verify this. 
Income proof as and wherever asked:

The income proof you have submitted is not sufficient to enable derivatives and we have just enabled equity segments. If you wish to enable F&O segments please send any of the following docs:

  • A copy of your bank account statement or passbook with the latest 6 months transactions.
  • A copy of your latest salary slip
  •  A copy of ITR acknowledgment
  • A Copy of form 16 
  • A copy of your net worth Certificate
  • A copy of your statement of DEMAT holdings
Bank details and required documents:

  • The IFSC/MICR code is not printed or is not clear on the cheque/bank statement/passbook you have provided. You’ll have to provide us with an alternative bank document which has the IFSC and MICR code printed on it.
  • There is a mismatch in name between your PAN card and your bank statement/ cancelled cheque. You will have to send us a duly attested banker confirmation letter and self-declaration letter to further process your application.
  • The bank statement you have provided us is password protected. Please send us an unlocked version. 
Address proof:

  • The address proof you have provided is not self-attested. You’ll have to send us a photocopy of your address proof which is self-attested.
  • There is a name mismatch between your PAN and address proof. You’ll have to submit a self-declaration letter in order for us to verify this. 
  • The address proof you have provided is unclear, You’ll have to send us a clear self-attested photocopy of your address proof. 
  • The correspondence address you filled in the KYC page does not match with the address proof you have submitted. Please submit an address proof that matches the address filled or send us a new KYC sheet. 
  • The permanent address you filled in the KYC/POA/ECN page does not match the address proof you have submitted. Please submit an address proof that matches the address filled or send us a new KYC/POA/ECN sheet. 
Nomination:

  • You have not mentioned the relationship with the applicant for a nomination. Please let us know your relationship with the applicant for us to process the forms. 
  • If you have nominated a minor, we would require the guardian details, relationship with the nominee and the DOB to process the forms. 
  • You have multiple nominees but you have not specified the share that each nominee should receive. Please let us know the percentage share that each nominee should get to process your forms. 
Forms not clear:

  • The trading and DEMAT form you have printed and sent us is not clear. You’ll have to send us a clear application form duly signed by you. 
  • The commodity application form you have printed and sent us is not clear. You’ll have to send us a clear application form duly signed by you. 
Signature missing/Wrong signature:

  • Signatures were missing in a few pages. You’ll have to resend the duly signed forms.
  • You have incorrectly signed in the second holders or third holder field in one or more spaces provided.You’ll have to resend the forms signed correctly in the appropriate space provided.
Photograph:

  • Your photograph is missing in the KYC form. Please send us a new KYC form with a color passport sized photograph affixed and cross-signed. 
Overwritten Forms:

There was overwriting of details in one or more places. You’ll have to send the correctly filled forms again.

Contact details:

You have entered contact details which are already associated with another Zerodha account. Please provide us an alternative email and mobile number.
We have a different mobile number/email ID registered with us, You’ll have to confirm the contact details you wish to update your account with.  

2nd and 3rd holders:

You have opted to open a joint account. We would require a KYC form and self-attested copies of PAN and address proofs of all the joint account holders separately. 

In all the above rejection cases, you will receive an email notification and also a call from your sales manager stating the reason for rejection and the instructions to follow to get your application processed correctly.