Demat | August 05
How to Open Demat Account Online in 5 Easy Steps

If you plan to invest in equity shares, then you need a Demat account — the term meant for trading and investing. The savings modes have evolved among people, where stocks and shares have replaced the traditional fixed deposit savings. 

Since a Demat account is necessary to invest in, you should be aware of the procedure to open a Demat account online. In this article, we help you with the five steps to easily open a Demat account online. 

What is a Demat Account?

Demat account refers to a medium with which anyone can hold their securities and stock market shares. These securities could be Government securities, bonds, Initial Public Offerings (IPOs), mutual fund units or even Exchange Traded funds (ETFs).  

Apart from ensuring the security of the financial investments you make, a Demat account can also streamline the maintenance and management of the investments.

Why do you need to open Demat Account Online?

The simplest and most secure way to safeguard your shares or assets is to have a Demat account. It protects your assets against loss, theft, damage, forgery, etc. With an  account online, you can easily transfer the shares to your account digitally once the deal is authorized. A Demat account online helps you to trade using either your computer or your smartphone. Hence, you don't have to go to a stock exchange for your deals. With no stamp duty included in the transfer of your shares, opening a Demat account online can save your cost in the transaction fees. 

How to open a Demat Account online?

  • Visit the Depository Participant’s website
Choose a secure Depository participant website and visit the page. Depository participant is the bank, financial institution, or an agent with whom you wish to open a Demat account
  • Select option ‘Open Demat account’
Once you select your preferred DP website , choose the option ‘Open Demat Account’ and take actions as per the instructions on screen.
  • Complete the Demat account opening form using all details and submit
Complete the form online with all the relevant details and your required information like phone, email address etc. You will now receive an OTP before you move further.
  • Submit all the necessary documents to open Demat account
Share your banking details and PAN details. Provide your pan number and banking information which you can utilize to proceed with the transaction.
  • Complete your e-KYC processing
Verify and authenticate your KYC information digitally. You can now receive your Demat account number.
You have now successfully completed all the steps required to open a Demat account online.
Documents you need to submit while opening a Demat account online
While you need to  open a Demat account, you should keep the following documents ready to enter details and for verification purposes: 
  • Passport size photo
  • PAN card
  • Signature (copy)
  • PAN card or valid proof of identity
  • Valid address proof- Aadhar ID, Voter ID, Driving License, Passport, Recent utility bill (less than 3 months old)
  • Passbook copy or bank statement that support the bank account details
  • A Cancelled cheque
  • Payslip or IT return when you wish in derivative or currency market

Conclusion

While you learn how to open Demat account online, the aforementioned points can help you with a hassle free account opening process. With a Demat account online you can earn great profits compared to investment instruments. Since an investor would be able to access the account from anywhere across the world, an online Demat account makes sure you have convenient access anytime. 

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Important Message The information contained in this file is provided for informational purposes only, and should not be construed as legal advice on any matter. The content and interpretation of the law addressed herein is subject to revision. We disclaim all liability in respect to actions taken or not taken based on any or all the contents of this file to the fullest extent permitted by law. Every effort is made to avoid errors. In spite of that, errors and discrepancies may creep in. It is expressly stated that neither Findoc Investmart Private Limited nor any of the contributors of updates will be responsible for any damage to anybody on the basis of this document. Readers are, therefore, requested to cross check with the original sources e.g. Government publications, Orders, Judgments etc., before taking any action or making any decision. These services are being provided through our group companies Findoc Capital Mart Pvt Ltd and Findoc Finvest Private Limited

Attention Investors
  • 1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
  • 2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
  • 3. Pay 20% upfront margin of the transaction value to trade in cash market segment.
  • 4. Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries forrefund as the money remains in investor's account."
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactionsin your demat account directly from NSDLon thesame day.....issued in the interest of investors."
KYC is a one-time exercise while dealing in securities markets-once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary." | (As instructed by SEBI, We hereby declare that we do engage in proprietary trading in all segment across the exchange.)
Effective communication & Speedy redressal of the grievances a. Register on SCORES portal b. Mandatory details for filing complaints on SCORES: i. Name, PAN, Address, Mobile Number, Email ID c. Benefits: i. Effective communication ii. Speedy redressal of the grievances link: https://scores.gov.in/scores/Welcome.html
In case of grievances for any of the services rendered by Findoc Investmart Pvt Ltd write an email to grievance@myfindoc.com
Mandatory updation of certain attributes of KYC of clients - The advisory is also displayed on the Depository website at following link: https://nsdl.co.in/downloadables/pdf/Advisory%20%E2%80%93%20KYC%20Compliance.pdf

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