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How to Open Demat Account Without Aadhaar Card

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Yes, you heard it right – now there’s just one less thing for investors like yourself to worry about before getting started. And that’s having an Aadhaar card to open a Demat account.

Read on for more details about opening a Demat account without the hassle of an Aadhaar card.

What is a Demat Account?

A Demat or Dematerialized Account is a type of account that allows investors to store their shares and securities electronically. It eliminates the physical holding of stocks and helps in easy trading or transfer of those holdings. The securities are held in the Depository Participant’s (DP) account and represent the actual ownership of those underlying securities.

A Demat account comes with high-security features, reduces paperwork, simplifies transactions, and makes it easier to track investments. Opening a Demat Account also allows for more flexibility: with it, one can trade in multiple segments like stocks, derivatives, commodities, currency, etc., and access various additional services such as E-voting, IPO bidding, and corporate benefits.

How to Create a Demat Account Without Requiring an Aadhaar Card?

While Aadhaar is commonly used as identity proof for Demat account opening, investors can opt for alternative documents if they do not have an Aadhaar card. Here is how:

  1. Use a PAN Card – A PAN card is mandatory for opening a Demat account.
  2. Provide Alternative Address Proof – Documents like Passport, Voter ID, or Driving License can be used instead.
  3. Manual KYC Verification – If Aadhaar-based e-KYC is unavailable, physical or video verification may be required.

Even without an Aadhaar card, one can complete the process by submitting the required documents physically or via email.

Why is Aadhaar Also an Important Document to register a Demat account?

The Aadhaar card is an essential document for all Indian citizens. Validated by the government, it provides:

  • Proof of identity and address, making it easier to prevent misuse of funds or fraudulent activities.
  • To accurately complete the Know Your Customer (KYC) process, individuals must link their Aadhaar number to their mobile phone.
  • Aadhaar card is required for various services and helps prevent discrepancies related to identity and finances.

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