Can we open demat and trading account without Aadhaar card in India?
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- Updated On:25-Sep-2021
- Replies:1
Short Answer
Yes, you can open a trading and Demat account without an Aadhaar card but it's not possible to do that in the online method. To open your account without an Aadhaar card, you will have to visit the broker's branch and complete the process there.
Detailed Answer
Is it possible to open Demat & Trading account without an Aadhaar card?
Yes, you can open a Demat and Trading account without an Aadhaar card but you’ll have to do that by visiting the broker’s branch. Opening a Demat account without an Aadhaar card is not possible through the online route. You’ll have to complete the E-KYC through the Aadhaar portal. Due to this, you will have to provide your Aadhaar card at the time of account opening.
Although, if you want to open your account without providing an Aadhaar card, you can do so by visiting the nearest branch of the broker. There you can submit other required documents like the PAN Card, Bank details, etc to complete the process. But you cannot open your Demat and trading account online without your Aadhaar card. You’ll also have to make sure that your phone number is linked to your Aadhaar card to receive the OTP, during the authentication process.
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Discussion (0)
One person can open multiple trading accounts with one PAN card in India. But you cannot open more than one trading account with the same broker using the same PAN card.
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