The popularity of the stock market is rapidly growing. Today more and more people want to invest their money into shares and securities with the aim to make good returns in the long term. Investing in the Indian stock market is possible only through demat account. Most investors are aware of the fact that they need a demat account to invest in the stock market but they do not know how to open it. In this article, we will list down the important steps that you must keep in mind to open a demat account online.
Before we list down the process, let us learn about the documents that would be required to open demat account online.
Documents Required To Open Demat Account Online
- PAN Card
- Aadhaar Card
- Proof of Income
- Bank proof in the form of cancelled cheque
To fasten the process of opening the demat account online, you must get your mobile number linked with the Aadhaar Card. This will help you in opening the demat account in a short time. However, if your mobile number and Aadhaar Card are not synced, you can visit the UIDAI website and link them.
Let us now learn the steps to open demat account online.
Steps to Open Demat Account Online
- The first step is to visit the website of the depository participant. Here the depository participant can be a bank or a broker who is acting as an intermediary between you and the depository. The depository provides the facility of holding your shares and securities. On visiting the depository participant’s website, select the option of signing up for a demat account. The depository participant will then ask you to fill the basic details like your PAN number, Aadhaar card number, etc.
- In the next step, you will receive a one-time password (OTP) on your mobile number to validate your Aadhaar and PAN cards. After entering the right OTP, the depository participant shall ask for the next set of details. Here you will have to give your bank details, address and the brokerage plan that suits your requirements. The website shall then ask you to upload the document proofs, a passport size photograph, and any other important information.
- This is the last step of opening the demat account online. Here the depository participant shall conduct a video session with you to carry out in-person verification. This is done to verify whether the details submitted by you are correct and fair. On completion of the verification process, you have to click on the “e-sign” button. This will generate a one-time password on your registered mobile number. After submitting the right OTP on the website, your e-sign shall be affixed and the e-KYC process gets completed. Next you will receive a client ID which will help you to log into your demat account online. Now you can carry out online transactions of purchasing and selling shares or securities from anywhere.
The above mentioned are steps to open demat account online. If you are looking to open a demat account, you may contact Kotak Securities. They offer safe and seamless online services to carry out transactions in the stock market. What keeps them ahead of their competitors is their affordable rates and hassle-free premium services.