FAQ's

Account Opening

Individuals, Residents of India, HUF, NRI, Proprietary firm, Partnership firm, or Company, among others, can open a trading account with Cholamandalam Securities Limited. However, the online account opening facility is limited to Indian resident individuals.

You can open a paperless online account with Cholamandalam Securities Limited in two ways: a) Direct Online Account Opening: - Visit www.cholawealthdirect.com - Click on "Open an Account" - Fill in your basic details - Click on "Open Trading Account" to initiate the account opening process - For queries, call us at 1800 425 4477 b) Sales Assisted Online Account Opening: - Call us at 1800 425 4477 or leave a footprint on our website - Our sales representative will visit you at your convenient time to open your account.

Paperless account opening is approved by regulators. Visit www.cholawealthdirect.com, click on "Open Trading Account" for a 100% digitized and fast process with instant access to facilities

All resident individuals with a valid Aadhaar ID, active Aadhaar-linked mobile number or email ID, updated address details in Aadhaar, access to net banking, and a webcam-enabled device can open a paperless account.

For account opening, you need Aadhaar-mapped mobile number or email ID for OTP verification. However, for Chola Wealth communications, you can provide a different mobile number or email ID.

Visit https://eaadhaar.uidai.gov.in to check your details mapped in Aadhaar.

No physical form is required post-account opening. However, you may need to upload digital copies of documents like PAN Card, address proof, bank proof, and signature image.

eSign refers to electronic signatures or digital signatures using Aadhaar details. It authenticates the paperless account opening form and is triggered during the online form-filling process.

IPV confirms the physical existence of the person opening an account. In paperless account opening, IPV is conducted through real-time capturing of a photo with timestamping and geolocation or video recording via a webcam.

Yes, the system will ask for permission to access the camera, microphone, and location for completing the IPV process.

Yes, you can register multiple nominees, up to three, in the account opening journey itself online.

To use the paperless account opening facility, you need to open a DEMAT account with Cholamandalam Securities Limited.

For derivatives, you need to provide the last six months' bank statement, recent month pay slip, Form 16 or ITR copy, and the latest DP holding statement.

Yes, you can opt for Demat Debit Pledge instruction (DDPI) online in the account opening journey by paying Rs.150/- stamping charges.

For Android, an updated Chrome browser or Firefox is compatible. For iPhone, an updated Safari browser is compatible.

MutualFund

Mutual funds are an investment option that offers easy access, liquidity, straightforward exits, and remove investment management risk from the individual investor as professional fund managers manage them

A mutual fund is an investment vehicle that pools funds from investors and invests in equities, bonds, government securities, gold, and other assets. Companies that qualify to set up mutual funds, create Asset Management Companies (AMCs) or Fund Houses.

Mutual fund returns (capital gains) are subject to tax, known as capital gains tax. Capital gains tax will impact when you choose to redeem your investment; like in the example above you will be liable to pay a tax on the Rs 500 you have earned.

Investment of up to Rs. 1,50,000 in ELSS mutual funds qualifies for tax benefit under section 80C of the Income Tax Act, 1961. Mutual fund investments, when held for a longer term, are tax-efficient.

Sign up using email and OTP. Select fund. Enter the investment amount. Choose the investment type: one-time (lump sum) or SIP. Enter PAN, and full name, and verify mobile number.

Mutual funds generally levy an exit load (fee) for redeeming investments within a specified time period, for example, one year from the date of investment. This is done to refrain the investor from exiting the scheme too early.

Theoretically, yes. But if you stay invested long enough, that possibility goes down to almost zero.

When it comes to mutual funds, an investor can make money in two possible ways: income earned from dividends on stocks and price increase of the stock.

All that an investor has to do is log in to his online mutual fund account, press the redemption button, and confirm the transaction. The redemption amount will be credited to his bank account within the turn-around time.

The purpose of investing in mutual funds is to earn higher returns than what traditional investments offer. These higher returns are mainly because of more extensive market exposure and professional fund management.

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Account Opening
MutualFund