How To Open Demat Account

A lot of people these days are becoming aware of investing, but they don’t know what the process is! So it takes time for them to go ahead. If you also want to invest and create a second income then this blog is for you. The first thing you need to do is open a Demat account! Just as a bank account is needed, a Demat account is needed for investing. Here at Stay Invested, we would like to show ‘How to open Demat account?’ head up to know more:

Open Demat Account:

Opening a Demat account is not a big deal. You can open it in just 10 minutes. Here you can see how to open a Demat account:

• Bank Account:

For investing, one needs to have a bank account. You need it because the transfer of shares from/to your Demat account and transfer of money from/to your bank account takes place automatically. This is a hassle-free experience with no paperwork involved.

• Documents:

While you open a Demat account, you have to attach some document copies:

1. PAN Card
2. Residence Proof
3. ID Proof
4. Passport size photograph

Also, need to submit a canceled cheque.

• Form:

Submit a duly filled account opening form as well as a KYC form.

• Open Demat Account By Broker:

When you prefer to open the Demat account by Depository Participant or bank or broker, they do all the Demat account opening process for you. Clear your doubts about the Demat account opening. Ask the questions to your broker.

You will receive a unique client ID. here, you will get access to your online Demat account. Also, you will get one slip that includes instructions and depository services like transfer, purchase, etc.

While opening a Demat account there is no requirement of a minimum balance.

Open Demat Account Online:

Opening a Demat account online is also easy. Here also you will need to approach the brokers or sub-brokers.

Open Online Demat Account:

•  Visit their website
• Open Demat account opening form
• Submit information like name, email id, etc.
• You will receive OTP
• Then from the broker’s end, they will get in touch with you to complete all process

The Demat account service provider will give you:

• Brokers Id
• Demat account number
• POA number

Looking for a Demat account opening? Click here to get in touch with us.

Bottom Line:

Some broker provides free Demat account opening service (You can choose to Stay Invested if you want to open free Demat account). Some brokers will charge you for their service.