To open a Demat account, follow these key steps:
- Choose a Depository Participant (DP) such as a bank or brokerage.
- Fill out the online application with your basic details (name, phone, email, PAN).
- Link your bank account with account number and IFSC code.
- Upload required documents: PAN card, photo, identity and address proof (Aadhaar, passport, utility bill, etc.).
- Complete online verification, which may include video verification.
- Digitally sign the form using e-sign.
- Submit and receive your Demat account number and login details.
Documents generally required include PAN card, passport-sized photo, proof of address, proof of identity, bank statement or cancelled cheque, and signature. Some brokers also ask for financial documents if trading in derivatives. The process can be fully online and paperless with many brokers offering free account opening. After approval, the Demat account allows you to hold shares and securities electronically for trading and investment. Charges such as annual maintenance fees may apply depending on the DP and type of account chosen.
