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Shoonya Account Opening Guide

Discount Broker Depository: CDSL

Shoonya by Finvasia is a discount stockbroker that offers commission-free trading on all segments and all exchanges in India. It is the first of its kind in India and was launched in 2013.

Shoonya Demat Account Opening Process Step by Step.

Step 1: Click on ‘Open Your Account’ to visit Shoonya and start your account opening process. Enter your email id and mobile number to continue.

Step 2: You will be receiving OTP on your email id and mobile number. Enter the respective OTP’s and click on ‘Verify OTP’ to continue.

Step 3: In the next step, enter your PAN Card No. and DOB. Click on ‘Submit’ to continue.

Step 4: Enter your Bank Account Details.

Step 5: Enter other information like Spouse Name, Residential status, address Annual Income etc.

Step 6: Select trading segments in which you want to trade in.

Step 7: Upload your signature and photograph.

Step 8: E-sign your KYC through Aadhar.

Shoonya Demat Account Opening - Documents Required.

Documents required:

  1. A scanned copy of your PAN card.
  2. A scanned copy of Aadhar Card.
  3. An active mobile number linked to your aadhaar card. To complete the eSign in process, you will need OTP. So, make sure your mobile number is linked with your Aadhar card. If not, then visit the nearest Aadhaar Seva Kendra to get it updated.
  4. Cancelled Cheque/Bank statement to link your bank account. Make sure the bank statement you are uploading has an Account number, IFSC and MICR code printed on it. If these are not clear then your application may be rejected. The cheque must have your name clearly inscribed on it.
  5. A scanned copy of your signatures. This should be done with a pen on blank paper and should be clearly visible. Pencils, sketch pens or markers will make the application rejected.
  6. Income Proof - It is required if you wish to trade in Futures & Options, Currency or Commodities. You can submit any of the following documents for income proof:
    1. Form-16
    2. Latest 6-month Bank statement
    3. Latest salary slip
    4. Networth certificate from a CA
    5. Income Tax Return Acknowledgment

Note – Please note that only individual accounts are opened online.