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How to Open Demat Account?

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Are you interested in stock market and want to invest in shares? For that you need to open a Demat account and trading account.

But what are these accounts? Are both Demat Account and Trading Accounts important? How to open a Demat Account online? Read on to understand as to how to open a Demat Account.

What is Demat Account and How Does it Work?

A Demat Account is where your shares are held in dematerialized form. This makes trading faster and safer and more efficient to store securities and execute trades. Demat Accounts helps to convert physical share certificates to the electronic format which makes them easily accessible by account holders.

The Demat Account is held with two depositories – NSDL (National Securities Depository Limited) & CDSL (Central Depository Services Limited). However, they provide Demat Account through the Depository Participants (DPs). Today, most stockbrokers are depository participants and are also registered with the Stock Exchange, hence, they provide Demat & Trading Account to clients.

Step-by-Step Process for Opening A Demat Account Online

Opening a Demat Account is a simple process. Below is the step-by-step guide on how to create a Demat Account:

  • Step 1: Apply for an online Demat Account: To start with your Demat process through any Depository Participant, you are required to submit your basic information like mobile number, email ID, Date of Birth etc.
  • Step 2: Submit your KYC details: To open a Demat Account, it is mandatory to submit the KYC (Know Your Customer) details. It includes your proof of address and proof of identity. PAN Card is also a mandatory document required to open Demat Account.
  • Step 3: Documents verification: After you have submitted your details, your application is reviewed by the stockbroker. The details you provided are matched with the proof documents.
  • Step 4: Get your Login ID: Once your application is successfully verified, and account is successfully opened, you will receive your login ID and password to access your Demat & Trading Account.

Benefits of Opening a Demat Account With Bajaj Broking

From the house of Bajaj, Bajaj Broking has been a leading stockbroking firm for quite some time now. It is a 100% subsidiary of Bajaj Finance Limited. It is one of the few stockbrokers registered with both National Securities Depository Limited (NSDL) and Central Depositories Service Limited (CDSL) which enables you to choose from any of the two. Mentioned below are some of the benefits you get when you choose to open an account with Bajaj Broking.

  • Fully online process – Demat Account Opening through Bajaj Broking is 100% online.
  • Free Account Opening - Bajaj Broking allows opening of free Demat Account through its Freedom Subscription plan.
  • Low Brokerage – Bajaj Broking allows one to enjoy the benefit of low brokerage rates with its Demat and Trading account.
  • Multiple product benefits – By availing of Bajaj Broking’s Demat and Trading account, you can easily invest in shares, ETFs, equity Futures and Options, Bonds, IPO.

Documents Required for Opening a Demat Account

For opening a Demat Account you are required to submit the below documents:

  1. Identity Proof: A copy of your PAN card can serve this purpose. Ensure that your photograph and signature on the PAN card is clearly visible.
  2. Income Proof: You are required to submit any one from the following:6-months’ bank statement, Net worth certificate, 3-months’ salary slip, Income Tax Return (ITR) statement, Demat Holding statement, Holding Report
  3. Bank Proof: You are required to submit any one from the following: Cancelled Cheque, Passbook, Last 6-months’ bank account statement
  4. Address Proof: You are required to submit any one from the following: Passport, Driving License, Voter ID, Aadhaar Card, Last 3-months’ bank account statement
  5. Signature: A signature on white paper is required (It is matched with the signature on PAN card).
  6. Photograph: A passport size photograph is required

Types of Charges Associated with Opening a Demat Account

Now that you are familiar with how to open a Demat Account, you must know that it comes with specific fees and charges. Some of the types of charges associated with a Demat Account are as follows:-

  1. Annual Maintenance Charges
  2. Account opening charge
  3. Brokerage charge
  4. Transaction charge
  5. Charges for Dematerialization of Share Certificate
  6. Charges for Rematerialization of Share Certificate

With Bajaj Broking, you can open an account through one of the subscription packs each offering different brokerage rates.

Checkout the different subscription pack and charges levied just by clicking to the below URL: Subscription Pack and charges

Why Do You Need to Open a Demat Account?

Opening a Demat account is essential for anyone looking to trade or invest in the stock market. It simplifies the process by converting physical share certificates into electronic form, ensuring secure and easy access to your securities. A Demat account also facilitates faster transactions, reduces paperwork, and minimizes the risk of forgery and loss. Additionally, it provides a consolidated view of your investments, making portfolio management more efficient.

 

In India, it is mandatory to open a Demat Account if you want to invest in share market. Just like knowing how to open a Demat Account is important, similarly there are other factors that determine the importance of having a Demat Account:

  1. Safety: Maintaining and storing physical certificates can be risky and tiresome, since there is high risk of certificates getting lost or damaged. With Demat Account, this issue is solved as it stores the share certificates in digital format.
  2. Easy accessibility: Since your share holdings are visible in your online Demat Account, it becomes easy to access them from anywhere and at any point of time.
  3. Holds multiple securities: It does not merely help store the shares, but also helps hold other financial securities in electronic form, like bonds, debt securities, etc.
  4. It is mandatory for equity trading in India.
  5. It is a necessity while applying for IPO (Initial Public Offering) as the allotted shares get credited to the specific Demat Account.

How to Open a Demat Account Online?

Opening a Demat account online is a straightforward process that can be completed in a few simple steps. Here’s a detailed guide on how to create Demat account, highlighting the Demat account opening process and procedure.

 

1.     Choose a Depository Participant (DP): Select a stockbroker or financial institution registered with NSDL or CDSL. Bajaj Broking offers a seamless online Demat account opening procedure.

 

2.     Visit the DP's Website: Go to the official website of your chosen DP. Look for the Demat account opening section and click on it to start the process.

 

3.     Fill Out the Application Form: Provide basic details such as your name, mobile number, email ID, and date of birth.

 

4.     Submit KYC Details: Complete the Know Your Customer (KYC) process by uploading proof of identity (e.g., PAN card), proof of address (e.g., Aadhaar card, passport), and a recent photograph.

 

5.     Upload Required Documents: Ensure you have digital copies of the necessary documents

 

6.     E-Sign the Application: After submitting your details and documents, you will need to e-sign the application form. This step usually requires Aadhaar-based verification through an OTP sent to your registered mobile number.

 

7.     Verification Process: Once you’ve e-signed, the DP will verify your application. This may involve a phone call or video verification to confirm your identity and details.

 

8.     Receive Login Credentials: After successful verification, you will receive your Demat account number, login ID, and password via email. This completes the process of opening a Demat account online.

 

9.     Login and Start Trading: Use the credentials to log in to your Demat account on the DP’s platform.

 

By following these steps, you can complete the procedure of Demat account opening process online, making the entire process convenient and hassle-free.

 

How to Open a Demat Account Offline? 

How to Open a Demat Account Offline?

Opening a Demat account offline involves a slightly different process compared to the online method. Here’s a comprehensive guide on the offline Demat account opening procedure.

 

  1. Choose a Depository Participant (DP): Select a registered DP like Bajaj Broking, which offers both online and offline Demat account opening services.
  2. Visit the DP's Office: Go to the nearest branch office of your chosen DP.
  3. Collect the Application Form: Request a Demat account opening form from the DP’s office. Fill out the form with accurate personal details, including your name, address, and contact information.
  4. Attach Required Documents: Gather photocopies of the necessary documents. These typically include:
    • Identity Proof: PAN card
    • Address Proof: Aadhaar card, passport, voter ID, or recent utility bill
    • Bank Proof: Cancelled cheque or bank statement
    • Income Proof: (if required) – recent salary slips, IT returns, or bank statements
    • Photograph: Passport-sized photograph
  5. Submit KYC Documents: Along with the filled application form, submit copies of your KYC documents. Ensure all documents are self-attested.
  6. In-Person Verification (IPV): Complete the in-person verification process.
  7. Processing the Application: The DP will review and process your application. This may take a few days, during which they will verify all the details and documents provided.
  8. Receive Confirmation: Once your application is approved, you will receive a confirmation email or letter containing your Demat account number and other login details.
  9. Login and Manage Your Account: Use the provided credentials to log in to your DP’s platform and start managing your Demat account.

The offline process of opening a Demat account involves more manual steps but ensures thorough verification and personal assistance from the DP. This method is suitable for those who prefer face-to-face interaction and hands-on support during the Demat account opening process.

Conclusion:

Opening a Demat Account is a simple, easy and smooth process. Keeping this in mind, you can create Demat Account online at Bajaj Broking within 15 minutes. As opening of a Demat Account is a prerequisite if you want to invest, it’s important that you are familiar with the steps of how to open a Demat account. To know further in detail, kindly click here.

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Frequently Asked Questions

How many Demat accounts are in India?

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There are over 15 crore Demat accounts in India as of March’24.

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