What are documents required for Demat account opening online in India?
- Asked By
- Updated On:28-Jan-2021
- Replies:2
Short Answer
To open a demat account, users will require a filled applciation, Aadhar card, PAN card, address proof, photographs, bank statement, and income proof.
Detailed Answer
We keep on reading about different stock brokers offering demat account in India. Have you analysed what are the basic and most important documents required for opening a demat account with any of the stock brokers.
Firstly, you need to fill the basic details and personal information in Demat form.
For your reference, I have compiled a list of crucial documents that you must have while opening a new demat account. The list is more or similar for all the stock broking companies.
Documents required for Demat Account Opening:
1. PAN Card: This is mandatory for all individuals
2. A Proof of identity: This can be your driving license, PAN, AADHAR, Voter ID.
3. A Proof of Address: AADHAR, Passport, Voter ID.
4. Bank account proof: It can be a cancelled cheque or copy of bank passbook. Bank statement not older than 3 months can also be provided.
5. Income proof: This is mainly required if you wish to trade in derivatives. ITR acknowledgement, salary slip etc.
6. Photographs: 2-3 passport size. Moreover, if yo open account online and do e-verification, you may not require this as well. Isn't that great?
Have you opened your demat and trading account? If yes, you might be knowing what documents you submitted for the same. If not, just note this list and keep these handy while opening your demat account.
What I believe is, opening a demat account has become very easy these days. Since the entire process has been made more convenient for the customers. What are your views on the demat account opening process? The inclination towards online account opening, e-signing and quicker processing has further simplified the whole system.
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Discussion (1)
Absolutely, you can open two or more demat accounts with one single bank account. You can, later on, add other bank accounts to your demat account as per your requirements.
Are you looking to close your Demat account with SBICap. You are required to download the demat account closure form available online from the SBI official website.
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.
Yes, one can have multiple demat accounts, but there is a restriction: you cannot open more than one demat account with the same depository participant (DP) or broker. Instead, you can open other demat accounts with different brokers.
One can open multiple demat accounts with one PAN card. However, you are not allowed to open more than one demat account with the same broker or Depository Participant (DP), so you must look for a different broker to open another account.
You cannot open more than one individual demat account with one PAN card in Zerodha. However, if you already have a demat account with Zerodha and want to open a second joint demat account with the same PAN card, that is possible to do so.
An NRI requires a number of documents to open a Demat account in India. Continue reading to find out the list of documents.
Yes, you can open two demat accounts with different brokers. But, you must strictly adhere to the KYC requirements, which include providing a PAN number and providing proof of identity and address as set forth by SEBI, for each account.
You need to download the account closure form available at Demat Account Closure Form and submit it at your nearest YSL branch. For the detailed process, read further.
For closing the Sharekhan Demat account, the process is quite simple as with other stock brokers in India. Download the application closure form, fill up the details & submit it in the nearest branch.
Harshil Patel
You would requires your PAN Card, Bank account statement, Aadhaar card and you're good. You don't need anything else. But based on the stock broker, additional information might be requested.