Refer & Earn

Terms & Conditions

1. 1.

   Please note, your 'Refer and Earn' reward will be as per the offer that was active when your invited friend successfully completed their mobile number & email verification via OTP, for an Upstox account.

2. 2.

   Your referral reward will become active 7 calendar days after your friend has onboarded on Upstox.

3. 3.

   The offer is valid from 7th July 2026 till it lasts.

4. 4.

   Referral rewards are only applicable if your referred friend completes the account opening process through the Upstox mobile app. Referrals who complete the process through any other channel will not be eligible for referral rewards.

5. 5.

   Referrer will be eligible for rewards only if their referred friend downloads the Upstox app using their unique link and friend's PAN number has not been used for creating an upstox account in the past.

6. 6.

   For the referrer to be eligible for the referral reward the referee needs to successfully open their Upstox account within 7 days of signing up (signing up means successfully completing their mobile number & email verification via OTP).

7. 7.

   You will only get your referral reward once your referred friend signs up on Upstox by submitting their mobile number and verifying their email address with an OTP and after they successfully open their account (within 7 days of signing up with the link)

8. 8.

   Once your referral successfully opens an Upstox account, the referral reward will be credited to your account by the 1st or the 16th of that month whichever is closer. In case the 1st or 16th is a weekend or a bank holiday, the reward will be credited by the next working day.

9. 9.

   To withdraw your referral rewards, you need to be an active Upstox user who has placed at least one trade in the last 365 days.

10. 10.

    You can earn referral rewards for successful referrals up to a certain limit, which may change from time to time. Once you reach the applicable limit for the month, you will not receive rewards for any additional successful referrals. (A successful referral is when your referred friend completes the Upstox account opening process.)

11. 11.

    The referrer will receive the referral reward once the referee account is activated. (i.e. Demat and Trading account is opened after complete document & application verification in lines with the SEBI / Exchange regulations and internal policies and procedures of the company)

12. 12.

    The company reserve the right to withdraw the offer as per its discretion.

13. 13.

    This offer cannot be combined with any other offer.

14. 14.

    Any dispute arising out of referral schemes shall not be covered under grievance mechanism of Exchange.

15. 15.

    You agree 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 Upstox Referral offer through invitations that would constitute or appear to constitute unsolicited commercial e-mail, sms, publishing any article or content about upstox products, services etc.
    • Advertisement* of any kind in any form on any medium print,audio visual form, web etc including social media (facebook, twitter, whatsapp, instagram, youtube etc) , or spam under any applicable law or regulation.
    • Fraud, attempted fraud or abuse of the Upstox Referral offer or these 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.
    • Organising competition, contests online, posting content about upstox etc.
    • Any act or omission resulting in damage to upstox in any form whatsoever in nature.
16. 16.

    Advertisement includes all forms of communications like any information about upstox products, services etc, form of document, pamphlets, circulars, brochures, notice or any research reports or any other literature or information, material published, or designed for use in a newspaper, magazine, SMS or other periodical, radio, television, telephone or tape recording, video tape display, signs or billboards, motion pictures, telephone directories (other than routine listings) or other public media including any generally accessible websites or emails, whether in print or audio visual form or used in workshop/seminar or public speaking or in any other manner. This also includes social Media including but not limited to Facebook, Twitter, Instagram, YouTube, WhatsApp, etc.