What happens if the account opening application is put on hold for rectifications?
If the account opening application is put on hold, an email is sent to the registered email ID explaining the rejection reason and the rectification required. See, Why was the account opening application put on hold?
If the Know Your Customer (KYC) was registered before initiating the account opening process, the rectification must be done within 15 days. If the KYC was not registered, the rectification must be done within 3 days.
Due to certain restrictions at the KYC Registration Agency (KRA), failure to complete the account opening process or rectify the forms within the specified period will result in resetting the application, and clients must redo the account opening process.
To check the account opening status, visit signup.zerodha.com. To learn more about KYC, see What is Know Your Customer(KYC), and how can the KYC status be checked?
Did you know? If a client is redoing the account opening process, the fee does not need to be paid again.