How to Open a Demat account - 🅹🅾🅱🆂🅸🅽🅳🅸🅰

Opening a Demat account (short for Dematerialized account) is a simple process, and here’s a step-by-step guide for you:

Step 1: Choose a Depository Participant (DP) for Opening a Demat account

A Depository Participant is an agent that provides Demat account services. Examples of DPs in India include:

Zerodha
Upstox
ICICI Direct
HDFC Securities
Angel One etc…

Step 2: Collect Required Documents

You will need the following documents:

Identity Proof: PAN card (mandatory).
Address Proof: Aadhaar card, passport, voter ID, utility bill, or bank statement.
Bank Proof: Canceled cheque, passbook, or bank statement.
Income Proof: (only if you want to trade in derivatives): Salary slip, ITR, or Form 16.
Photographs: Recent passport-sized photos.

Step 3: Start the Application Process

Online Method:
Visit the website or app of your chosen DP.
Fill out the Demat account opening form.
Upload scanned copies of the required documents.
Complete eKYC using Aadhaar-linked OTP for verification.
Perform in-person verification via video call (if required).

Offline Method:
Visit the nearest branch of the DP.
Fill out the physical account opening form.
Submit photocopies of your documents along with originals for verification.

Step 4: Verification

Your application will undergo In-Person Verification (IPV), which may be done online (video call) or offline (in person).
Some DPs may ask for a digital signature to finalize the process.

Step 5 : Get Your Demat Account Details

Once the application is approved, you’ll receive:

Demat Account Number (BO ID): This is your unique account number.
Login credentials for accessing the account online.

Key Points to Remember

1. Charges: DPs charge annual maintenance fees (AMC), transaction fees, and other charges. Compare DPs for the best pricing.

2. Trading Account: To buy/sell shares, you’ll need a linked trading account. Most brokers provide both as a combined account.

3. eKYC Benefits: Online account opening is faster and more convenient using Aadhaar-based eKYC.

Would you like help choosing a broker or comparing account options? Click Here to Know more.

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