How to Open a Demat Account?

A Demat account helps you to store all your bonds, shares, and other financial securities electronically. That’s why opening a Demat account is a primary step to start your trading career and keep track of all your investment in the share market.

Nirmal Bang offers you to open a Demat account online within minutes. Here are the descriptive steps on how to open a Demat Account and what you need to remember when you are in the process.

• 01

  Choose a Depository Participant

  The first most step is to choose a depository participant (Also called DP). A depository is an institution or an organization that holds the securities, and the participants are the registered stockbroker agents of that depository.

  While choosing a Depository Participant, always select a trustable party whose features match your requirements. In India, Banks, Stockbrokers, and online platforms offer Depository Participant services.

• 02

  Submitting a Demat Account Form

  When you find a perfect depository participant that meets your needs and requirements, the next step is to fill out the Demat Account form.

  This form is available on the Depository Participant's official website that you have chosen (in the case of online DP). If the DP is a verified Stockbroker or bank, you can also get the forms from their offices.

• 03

  Completed KYC (Know Your Customer)

  Now that you have filled the form, you need to upload the scan copies of your documents for completing the KYC norms. KYC is compulsory, and it verifies your identity to ensure genuine accounts are created. KYC documents include -

  • Identity Proof
  • Address Proof
  • Bank Account Statement
  • Income Proof

  Ensure to keep all these documents ready. If you are submitting the Demat account form online, keep the documents prepared in the scanned format and as per the Depository participant's size requirements.

  Such information is displayed right before you start filling the paperwork to open a Demat Account.