All clients of Zerodha shall be eligible to receive an incentive for referring friends/family and prospective clients at Zerodha. Clients would earn 10% of all brokerage generated from referred clients, if the below stated points are met, and till such time Zerodha continues to carry on this Referral Incentive Scheme which would be read along with the laws, regulations, rules prescribed by SEBI and the Exchanges (i.e. NSE, BSE, MCX) which are applicable to stock brokers/trading members.
- All such referred clients must complete their account opening process & have their trading and demat account activated (should have received login & password via email) within 60 days of being referred on Zerodha’s website/application.
- If a referred client completes his/her account activation within 60 days of being referred, using the same contact number & email ID as the client inputted while referring had inputted at the time of referring such a client, it would be recognized as a “Completed Referral”.
- An act of being referred would include:
- the referrer inputting the referee’s details, i.e. contact number and email ID, on the referral page of Zerodha’s website or application; &
- the referee inputting his/her own contact number & email ID on a referral link/URL or web page under the Zerodha domain (i.e. zerodha.com), created by the referrer.
- the referrer can share their affiliate link with the referees to facilitate the account opening process.
All referral brokerage amounts generated and available in the referral wallet of each client, above an amount of Rs. 10, for individual account and above Rs 100, for non individual account shall be paid out to such client during the 1st week of April every year to their linked primary bank account, for the previous financial year. This shall be paid out automatically every year if the trading and demat account of the client is active, has the KYC/Income proof and such other formalities updated, and the account has not been blocked/attached/requested to be frozen by any quasi judicial authority or any regulator in India (such as SEBI/RBI). The demat linked primary bank account needs to be active, the rejected payments can not be claimed after April 15th.
- I/We, having a trading account with Zerodha Broking Limited and/or Zerodha Commodities Pvt. Ltd. (hereinafter referred to as “Zerodha”) hereby agree to and declare the below points with respect to accepting any payment/incentives from Zerodha, with respect to any referral bonus or marketing fee or incentives from Zerodha:
- 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;
- I/We have read and understood all the terms, conditions, clauses of the NSE, BSE, and MCX with respect to the “Byelaws” of all the Exchanges, “incentives/referral schemes” rules, and rules with respect to marketing and incentives. I/We understand that by receiving referral incentives from Zerodha, I/We and Zerodha are both bound by the rules of the Exchanges;
- 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 Incentive 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;
- I/We are accepting this incentive 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;
- I/We acknowledge that details of clients referred to by me/us, such as; contract notes, daily margin statement, statement of accounts, will not be sent to me/us from Zerodha without the consent of the referred clients;
- I/We have not, since being eligible to receive any payment/payout 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;
- 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;
- I/We hereby declare that, since being eligible to receive any incentives 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
- 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.
- I/We hereby declare that the above information are 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.
- 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.
- I/We hereby understand this Referral Incentive Scheme, along with these terms & conditions with respect to all incentives 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.
- I/We hereby understand that Zerodha’s management reserves all rights to withhold any such incentives / this Referral Incentive Scheme to any such referrer, at its sole discretion, for any reason whatsoever.
No referral incentives under this Referral Incentive Scheme shall be paid after April 15th for the previous financial year, and no queries will be entertained with respect to payout requests made after April 15th every year towards payment for the previous financial year.