Terms & Conditions for Referral Incentive Scheme Policy

All clients of Zerodha shall be eligible to receive reward points for referring friends, family and prospective clients at Zerodha. Clients will earn 300 reward points for each Referred Client, if the below-stated conditions are met, and till such time Zerodha continues to carry on this referral scheme (“Referral Scheme”), which shall be in accordance with the extant laws, regulations, and rules prescribed by SEBI and the Exchanges (i.e. NSE, BSE, MCX) which are applicable to stock brokers/trading members. The client making the referral will hereafter be referred to as the “Referring Client,” and the referred individual will be known as the "Referred Client."

  1. All Referred Clients must complete their account opening process and activate their trading and demat accounts (they should have received login and password via email) within 60 days of being referred on Zerodha’s website/application.
  2. If a Referred Client completes his/her account activation within 60 days of being referred, using the same contact number and email ID as provided by the Referring Client at the time of referring such a client, it will be recognized as a “Completed Referral.”
  3. An act of being referred would include:
    1. the Referring Client inputting the Referred Client’s details, i.e. contact number and email ID, on the referral page of Zerodha’s website or application; &
    2. the Referred Client inputting his/her own contact number and email ID on a referral link/URL or web page under the Zerodha domain (i.e. zerodha.com) created by the Referring Client.
    3. the Referring Client sharing their affiliate link with the Referred Clients to facilitate the account opening process.
  4. All completed referrals who have opened an account on or after January 1, 2020, will be eligible for reward points towards Referring Clients who have referred clients under this Referral Scheme.
  5. Mapping for Referring Clients will only be considered if the Referred Client signs up and registers initially through the Referring Client. If the Referred Client is already registered and then later uses the Referring Client’s affiliate link to complete the account opening process, this account will not be mapped to the Referring Client.
  6. Individual Referring Clients cannot refer another non-individual account (eg. HUF, Corporate, Partnership/LLP, Trust) with the same contact details as their own account. All referred non-individual accounts must be referred by inputting the contact details via Console before any such non-individual account application is initiated.
  7. Referred Clients from one Client ID are not transferable in any way to another Client ID.
  8. By agreeing to the terms and conditions herein, all Referring Clients also hereby declare and agree to all clauses stated below. In case of any misrepresentation or any incorrect declaration is provided, such clients shall indemnify Zerodha for any such damages, direct or consequential, with respect to any violations of Circulars, Rules & Regulations, Bye-Laws of all Recognized Stock Exchanges (as defined by SEBI) and any such Applicable Law in India:
    1. I/We, having a trading account with Zerodha Broking Limited (hereinafter referred to as “Zerodha”) hereby agree to and declare the below points with respect to participating in Zerodha’s Referral Scheme:
    2. I/We am/are not forbidden to do any business under the Rules, Bye-Laws and Regulations of National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Multi Commodity Exchange (MCX) or any Recognized Stock Exchange as defined by SEBI;
    3. I/We have read and understood all the terms, conditions, and clauses of NSE, BSE, and MCX with respect to the “Byelaws” of all the Exchanges, “referral schemes” rules, and rules with respect to marketing and referrals. I/We understand that by receiving referral rewards from Zerodha, I/We and Zerodha are both bound by the rules of the Exchanges;
    4. I/We have read NSE CircularNSE/INSP/43029 dated 26th Dec -2019 to NSE/INSP/43824 dated 11th March 2020 and have clearly understood all the terms of the circular. Any dispute/grievance under this Referral Scheme cannot be referred to the Investor Grievance Panel at NSE and will be resolved between me and Zerodha as stated in the abovementioned NSE Circular, and any such dispute should not be made public;
    5. I/We are accepting this Referral Scheme from Zerodha only for the referral of new clients/persons and have not carried out any other activities, such as any financial advisory, inducing persons to use or trade/transact with Zerodha, providing stock tips, managing portfolios etc;
    6. I/We acknowledge that details of clients referred to by me/us, such as; contract notes, daily margin statements, statements of accounts, etc., will not be sent to me/us from Zerodha without the consent of the referred clients;
    7. I/We have not, since being eligible to receive any reward points from Zerodha, entered into any contracts or published any marketing material/advertisement acting as Zerodha or act as a referral agent of Zerodha without the explicit written permission of Zerodha. I/We understand that publishing any marketing or advertisement material requires permission/intimation towards the Exchanges. I/We will not & have not publish/’ed any marketing material without the explicit permission of Zerodha;
    8. I/We have/will not post the affiliate link of my referral code on public forums without any context, and spam any such groups/platforms/pages on social media;
    9. I/We hereby declare that, since being eligible to receive any reward points from Zerodha, I/We are not an employee/Authorized Person/Sub broker of any other Trading Member (apart from Zerodha) of any of the Exchanges. I/We also hereby declare that we are not a Trading Member on any of the Exchanges; and
    10. I/We are not an employee of Zerodha or any associate/group entity of Zerodha, and I/We are not a relative of an employee of Zerodha.
    11. I/We hereby declare that the above information is true and correct, and if any information is found to be false and incorrect, Zerodha will have the right to recover the entire amount received by me/us through whatever means Zerodha deems necessary.
    12. I/We agree to indemnify Zerodha and its Directors/agents/employees for any damages/claims that may arise from me/us deviating from the Rules/Bye-Laws of the Exchanges, and any terms, conditions, Policies & Procedures of Zerodha.
    13. I/We hereby declare that I/We have read, understood and agree to abide by this Policy, Zerodha’s terms & conditions, privacy policy and policies & procedures on Zerodha’s websites.
    14. I/We hereby understand this Referral Scheme, along with these terms & conditions with respect to all reward points from Zerodha may be changed from time to time by Zerodha, at the sole discretion of Zerodha; or by any changes directed by the Exchanges/SEBI or any such regulator/quasi judicial authority. Therefore, at all times, I/We shall abide by the change in such Policies and Procedures of Zerodha & Exchanges without any objections in the future.
    15. I/We hereby understand that Zerodha’s management reserves all rights to withhold any such reward points / this Referral Scheme to any such referrer, at its sole discretion, for any reason whatsoever.
  9. Gifting stocks via your Zerodha account (https://console.zerodha.com/gift) shall not not be considered as a referral under this Referral Scheme.
  10. Clients who close and reopen their trading accounts, with the specific intention of being mapped to a specific Referring Client, will not be considered as a referral/ Completed Referral under this Referral Scheme.
  11. Reward points can be applied or redeemed toward various services or purchases in the future, as listed in the ‘Rewards and referrals’ section of the console account of Referring Client or as notified from time to time. If a Referring Client closes his/her trading account, any accumulated reward points will be forfeited and will lapse. Even if they reopen the account, the points cannot be reinstated or used.
  12. Zerodha reserves the right to periodically audit the source for generating leads/referrals of all Referring Clients. Failure to fulfill any audit requirements or showcase such responses to any queries from Zerodha, may result in the termination of all past/future benefits under this Referral Scheme.
  13. Reward points redeemed to subscribe to any products listed on the referral page shall be non-refundable.
  14. Reward points cannot be transferred to another account, and will not be considered even if the same Referring Client closes and reopens his/her trading account with Zerodha, or even if it is converted from an individual/resident to a Non-individual / NRE/NRO account.
  15. Using affiliate referral links as paid or sponsored advertisements on any social media channels/websites/searches are strictly prohibited, and leads generated by any client from such means shall be terminated under this Referral Scheme.
  16. No reward points shall be provided for referral of any minor accounts.