Caps of ₹5,000 on account-opening payouts and ₹25,000 overall have been published. Given the inconsistencies elsewhere in the terms, treat these as indicative and confirm in-app.

A 5paisa customer with a Demat account. Self-referrals and family referrals are excluded, which is standard across broker programmes.

Account payout plus a brokerage share

5paisa Referral Code

Q: How much does the 5paisa referral actually pay?

Published figures conflict — ₹100, ₹200 and ₹250 have all appeared for the same offer, with the brokerage share quoted as both 5% and 12.5%. This site does not pick the most attractive of a set of contradictory numbers, so check the current terms inside your 5paisa account.

Q: What are the two parts of the programme?

An account-opening payout, which is a one-off paid when the referred person completes account opening; and a share of the brokerage that person subsequently generates, described as lifetime.

Q: Which part is worth more?

It depends entirely on who you refer, which is the point. A buy-and-hold investor generates very little brokerage, so the share returns nearly nothing. A frequent intraday trader generates a great deal. The structure pays you most for referring the person who trades most.

Q: Is brokerage sharing even allowed?

The position is unresolved. An NSE circular of 14 August 2024 disallowed it to prevent trade inducement and required referrers to be Authorised Persons; SEBI followed on 22 October 2024. But NSE/INSP/66284 of 24 January 2025 kept the August circular in abeyance pending an Industry Standards Forum proposal, and SEBI has a consultation paper in development.

Four different figures were published for the same offer

5paisa is an Indian discount broker offering equity, commodity, currency and mutual fund investing. Its referral combines an account-opening payout with a share of the referred person's brokerage.

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Genie Says

5paisa's referral has two parts: a one-off account-opening payout and a share of the referred person's brokerage. Published figures conflict badly — ₹100, ₹200 and ₹250 for the credit, 5% and 12.5% for the share — so this page publishes the mechanism instead of picking one. The share pays in proportion to how much the referred person trades, so a passive investor returns almost nothing. The governing NSE circular has been in abeyance since 24 January 2025 with SEBI's consultation paper still pending.

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Two components: a one-off account-opening payout, plus a share of the referred person's brokerage described as lifetime. The share has been published as both 5% and 12.5%.per successful referral*

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How to Use a 5paisa Referral Code

Separate the two components

A one-off account-opening payout, and a continuing share of the referred person's brokerage. Only the first pays for an introduction.

Distrust the headline figure

₹100, ₹200 and ₹250 have all been published for the same offer, with 5% and 12.5% quoted for the same share.

Ask who you are referring

A buy-and-hold investor generates almost no brokerage. A daily intraday trader generates a lot. The share rewards you for the second.

Verify in-app

The regulatory position is unresolved and terms have moved. Your account is the only reliable source.

Reward Details

Your Reward: A referral credit on opening an account. Published figures have ranged across ₹100, ₹200 and ₹250 — check in-app rather than trusting any of them.
Referrer Reward: Two components: a one-off account-opening payout, plus a share of the referred person's brokerage described as lifetime. The share has been published as both 5% and 12.5%.
Minimum Purchase: The referred person must open a Demat and trading account and complete the process; the brokerage share depends on them subsequently trading.
Validity: Governed by an NSE circular of 14 Aug 2024 that has been in abeyance since NSE/INSP/66284 of 24 Jan 2025. SEBI's consultation paper is pending.
Available In: India
Referral Limit: Caps of ₹5,000 on account-opening payouts and ₹25,000 overall have been published. Verify in-app.
Payout Time: The account-opening component pays once; the brokerage share accrues as the referred person trades.
Eligibility: You must be a 5paisa customer with a Demat account. Self-referral and family referrals are excluded.

Why Choose 5paisa?

We will not pick a number

Four incompatible figures were published for one offer. Choosing the most attractive would be inventing one — the rule applied on kickcash, fampay and tada.

One-off payout versus lifetime share

The first ends at account opening. The second ties your income to how much the other person trades, indefinitely.

A passive investor returns nearly nothing

Brokerage shares pay on transactions. Referring someone sensible is worth least under this structure.

The governing circular is suspended

Disallowed 14 Aug 2024, in abeyance since 24 Jan 2025, permanent rule not yet written.

About 5paisa

This page used to quote ₹100 in its title, ₹200 in one answer and ₹250 in another, with a 5% brokerage share in one place and 12.5% in another. When a figure varies that much, the honest thing is to publish the mechanism instead.

5paisa is one of India's established discount brokers, offering equities, commodities, currencies and mutual funds at low flat brokerage. Its referral programme has two components, and this page is going to describe those rather than repeat a number.

The reason is that the record here carried four incompatible figures for the same offer. The title said ₹100 in referral credit. One answer said ₹200. Another said a ₹250 account-opening payout for the first five referrals and ₹250 for every referral after that. The statistics block said 5% brokerage sharing while the title said 12.5%. Caps of ₹5,000 on account-opening payouts and ₹25,000 overall appeared alongside them. Those cannot all be true simultaneously, and picking the most attractive of them — which is what every listing site in this category does — would be inventing a figure. This site has a standing rule against that, applied the same way on kickcash, fampay, jiocloud and tada.

What can be described reliably is the shape, because the shape is stable even when the amounts move.

The first component is an account-opening payout: a fixed sum when someone you referred opens a Demat and trading account and completes the process. This is a one-off. It ends when the account opens, and it creates no continuing relationship between your income and their behaviour.

The second is a share of the brokerage that person subsequently generates, described as lifetime. That is a fundamentally different instrument. It pays you continuously in proportion to how much the person you referred trades, which means a friend who buys index funds and holds them returns you close to nothing, while a friend who trades intraday every day returns a great deal. You cannot know in advance which you are recruiting, and the arrangement rewards you for the second.

Both components sit under a regulatory position that is genuinely unresolved. A National Stock Exchange circular of 14 August 2024 disallowed brokerage sharing for referrals, stating the aim as preventing trade inducement, and required referrers to be appointed Authorised Persons with specific prior exchange approval. Brokers across the market shut their programmes down. SEBI followed on 22 October 2024 with a circular barring registered entities from associating with unregistered ones. Then on 24 January 2025 the NSE issued circular NSE/INSP/66284 keeping the August circular in abeyance, pending a proposal from the Brokers' Industry Standards Forum, and SEBI has a consultation paper on broker referral programmes in development.

So: check the current terms inside your 5paisa account rather than trusting any published figure, including one on this page. And when you read the two components, notice that only one of them pays you for making an introduction. The other pays you for what the other person does afterwards.