Your application for account opening with 5Paisa
will be put on hold in case any required documents are missing/mismatched.
Apart from this, there might be several other reasons for document-related
rejections, such as:
1. PAN
o The photo in the PAN copy provided is blurred/unclear.
o The PAN card photocopy is not clear.
o Name mismatch between your PAN and address proof.
2. Income Proof
o To activate derivatives, the income proof you submitted might not be
sufficient. Additionally, if you wish to activate the F&O segment, you must
submit the documents listed below to get approved:
Latest month salary slip with gross monthly income exceeding ₹5,000.(Latest
month)
ITR acknowledgement with gross annual income exceeding ₹60,000 (₹5,000 per
month).(Assessment Year Latest)
Form 16 with gross annual income exceeding ₹60,000 (₹5,000 per
month).(Assessment Year Latest)
Statement of demat holdings of other brokers with current holdings value
exceeding ₹5,000.(as on date)
3. Bank Details
· The submitted bank statement must contain the bank account number and IFSC
code.
· No mismatch of name in PAN card and Bank statement/cancelled cheque. A duly
attested banker confirmation letter and self-declaration must be sent to
further process the application.
· Bank statements submitted should not be password protected and should be in
an unblocked version.
4. Address Proof:
o No name mismatch should be there between the address and PAN proof. You need
to submit a self-declaration letter in order to verify.
o If the address proof provided is not clear, you will need to complete flow
via digilocker or reupload clear scan pdf.
5. Nomination
· In case of nominee is a minor, the details of a guardian are needed along
with the DOB to process the application.
· If there are multiple nominees allotted by you, please mention the percentage
share each nominee should get.
In each of the aforementioned situations, you will be notified via email and
given a call by our representative to explain why the application was placed on
hold. You will be provided with further assistance in completing the
application process.