Opening a demat account is difficult? Says who? These days it has become a lot more simple, easy and convenient. If you’d like to know how you can start your own demat account, then you will be happy to know that there is very little documentation actually needed to start your own demat account so that all individuals can become traders. On that note, here is a smart demat account opening procedure that you should know about.
Steps To Open An Account Online
Do An Online Registration
Select the right DP and visit the website where you can select a trading and demat account using your number.
Fill In Your Details
Submit your date of birth and PAN card to add banking and personal details.
Use a smartphone or a web cam to complete the whole verification process.
Make sure all bank documents are uploaded.
Provide details of the nominee, like mobile number, name and email ID.
Finally, complete the e-sign using your Aadhar card and submit your form.
Finally, submit all your details to start the process of account activation.
Now that you know how to create a demat account online, we will now help you understand how you can do the same offline. Both processes are easy to follow. But you need to choose ones that are selected based on your preferences.
Steps To Create An Account Offline
Selecting The Depository Participant
Choose and shortlist your own demat account. This is one of the best agents in this depository. They are great intermediaries that could be a broker or a financial institution. Based on what you need, you can pick the participant.
Fill Form Details
Next you need to fill up a form. Here you will add all the details like phone number, email, address, name, etc. Fill out all the correct details, submit the form.
Fulfill All The Requirements
Next you will need to complete your KYC. Here all documents have to be ready so that the process is fast and smooth.
Once all documents have been verified, you need to do a verification, and for that, you have to report to the DP’s office.
Finally, you need to sign an agreement with the participant, which includes all the rights and responsibilities of the investor.
Regardless of whether you are an inexperienced investor or a trader, having a demat account is necessary. And now that you know how to open demat account and the process you need to follow to create it, make sure to get started today. If you want to invest in equities and get all the benefits and returns, make sure you make smart decisions by downloading an Indian share market app where you will get the facilities, tips and tricks needed to get started with trading. Want to get started with trading? Schedule a free consultation calls with our experts today.