Demat Account is your entry point to start investing in share markets. Share Markets work in a complete digital ecosystem and the shares are traded on exchange in their dematerialized form. Dematerialized form is nothing but the digital version of the shares.
To open a demat account, you need to approach a stockbroker registered with SEBI and the stock exchange. You need to complete an account opening form that will ask for your basic details like name, mobile number, address, PAN and bank details. Following which, a few documents need to be uploaded before your account can be opened.
Documents Required For Demat Account Opening
If you keep the soft-copies of documents handy, you can complete the account opening process smoothly in less than 10-15 minutes. Here we present the list of all documents needed to open Demat account. It doesn’t matter which stockbroker you choose, the documents will mostly be the same.
- PAN Card: PAN Card is essential to open a Demat Account. Make sure your PAN is a valid one with clear picture of you, your signature and your date of birth.
- Photograph: While on online medium you can keep a soft copy of passport photograph, for offline medium, you should keep 3-4 photographs handy.
- Proof of Address: You can choose from the following documents for proof of address: Valid Passport, Aadhar Card, Valid Driving License, Voter ID Card, Utility Bills (e.g. Electricity bill) not more than 3months old, 3 month bank statement.
- Proof of identity: Your PAN Card with clear photograph can serve as the identity proof. Apart from PAN card, the following documents can be used as proof of identity: Aadhar, Valid Passport, Voter ID Card, Valid Driving License.
- Bank Proof: The acceptable documents are: Cancelled cheque, Bank Passbook and latest bank statement. They should have IFSC code and account number clearly mentioned.
- Signature on white paper: In online process, a scanned copy of your signature will be required. Make sure that the signature matches with that on the PAN card.
That’s it! With these documents in your possession before sign up can ease the form filling process and you can open account in minutes.