Referrer is a 5paisa customer who refers a prospective customer to open demat account by using their unique referral link or code.
Referee is a customer who opens the demat account with 5paisa using the referral code or link of an existing 5paisa customer.
Referral Date is the date when a referee begins her account opening process for the first time.
Activation Date is the date when a referee successfully opens the account with 5paisa.
Referral Reward is the benefit that the Referrer gets once the referred friend successfully activates the demat account with 5paisa.
There is no upper limit on the number of referral or referral rewards.
Make sure your referee opens a Demat account with 5paisa using your referral code only.
No two referral offers can be combined at any given point. Users are can qualify under only one offer in a given active month.
By sharing referral link or code, referrer consents to receive ₹100 cash credit in the ledger.
Referrer is eligible for ₹500 for first referral only if it is the first ever referral since the referrer opening account with 5paisa.
Referrer will receive the referral reward for each referral once the referee account is activated i.e. Demat and trading account is opened after complete document & application verification is in-line with the SEBI / Exchange regulations, and internal policies and procedures of the company.
The ledger credit will be made as per 5paisa payment settlement policy basis the mentioned terms and conditions.
Referee will be eligible for credit ₹100 which will expire if not utilized within 25 days of its credit in the ledger. This can be utilized to trade or can be invested in Mutual Funds but cannot be withdrawn in cash mode.
Users cannot add margin using credited referral reward money.
TDS at applicable rates shall be deducted from the fees so paid.
If details of the referred client already exists in 5paisa database as an existing client or as a lead client, then it will not be considered under this scheme for referral reward benefits and 5paisa reserves the right to exclude the said accounts for calculation of referral rewards.
All the verification and account opening process will be carried out by 5paisa team, and the team reserves the right to reject the case depending on compliance requirements and the company’s existing policies and procedures.
Management reserves all the rights to modify or terminate the arrangement of scheme at any time without prior notice. The decision of 5paisa on all matters relating to, or in connection with the use of this offer shall be final and binding on all parties concerned.
5paisa reserves the right to carry out checks and controls as it deems fit and proper, before the credit of referral reward to the referrer.
Each referral reward winner will be scrutinized under the “referral quality check committee” before crediting the reward money in his ledger.
Referrer agrees that the following activities are expressly prohibited and engaging in any of these will lead to initiation of legal and criminal action against you, and also result in immediate termination and disqualification from the Referral Program, forfeiture of existing referral invitations and accrued, but not yet received, referral rewards:
Spam, bulk distribution of invitations, distribution to strangers or any other promotion of 5paisa Referral offer through invitations that would constitute or appear to constitute unsolicited commercial e-mail, SMS, publishing any article or content about 5paisa products, services etc.
Fraud, attempted fraud or abuse of the 5paisa Referral offer for the given Terms & Conditions.
Selling, trading, bartering or providing anything of value to your Invitee beyond the referral invitation or otherwise using Your Program invitations or Rewards for promotional purposes.
Organizing competitions, online contests, posting content about 5paisa etc.
Any act or omission resulting in damage to 5paisa in any form whatsoever in nature.