Education

How to open demat account

List Broker

  1. Zerodha. Zerodha is the biggest and the best stockbroker in Indian with over 4 million clients that make up the +15% of daily retail trading volumes on Indian stock exchanges. …
  2. ICICI Direct. …
  3. HDFC Securities. …
  4. Angel Broking. …
  5. Groww
  6. 5Paisa. …
  7. Upstox. …

Procedure of Opening a Demat account:

Step 1: You have to select Depository Participant (DP) …

Step 2: Fill out and submit the Demat  Account Opening Form. …

Step 3: Comply with KYC (Know Your Customer) requirements.

Step 4: Complete the Verification Procedure. … Step 5: Sign Copies of the Agreement

  • Decide on a Depository Participant (DP), which is any authorized bank, financial institution or broker, with who you want to open a Demat Account with. The choice of a DP should ideally depend on the brokerage charges, annual charges &leverage provided.
  • Submit a duly filled account opening form and KYC form. Along with this, you will need to attach copies of –
  • PAN Card
  • Residence Proof
  • ID Proof
  • Passport-sized photographs

Do carry original copies of all for verification purposes. You will also need to give a cancelled cheque for dividend bank details.

  • You will then need to sign an agreement that will mention all the rules, regulations and rights associated with holding a Demat Account. Read them carefully and do not hesitate to clear all your doubts. When this is submitted to the DP, it will be signed by an authorized person and a copy of the same will be given to you.
  • When the account is opened, you will receive a unique Client ID from the DP. This, along with other details, will help you get access to your Demat Account online.
  • You will also be given instruction slips by the DP, which will be of use for depository services like transfer, purchase, etc.

Note that a Demat Account does not require any ‘minimum balance’ of shares or financial securities to be held in it. Also, you can hold more than one Demat Accounts linked to a single PAN. However, not with the same DP.

How to open a Demat Account online:

A request to open a Demat Account with any DP can be applied for online as well.

  • Name
  • Email ID
  • Mobile Number
  • One-time password (OTP) that you will receive
  • City
  • You will receive communication from the DP to get in touch with you for completing the above mentioned formalities and opening a Demat Account

DematAccount details

Your demat service provider needs to give you the following details:

  • DP ID
  • Beneficiary ID or Demat Account number
  • Power of Attorney (POA) number

These are especially helpful if you want to apply for an initial public offer (IPO).

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