Opening a Demat account in India is a straightforward process, but it involves several key steps to ensure everything is set up correctly. First, choose a reputable Depository Participant, such as a bank or brokerage firm, that aligns with your needs regarding services, fees, and reputation. Next, fill out the account opening form, which can be obtained either from the DP's website or their physical office, with many offering online application options.
You will need to provide several documents for verification, including identity proof (such as a PAN card, Aadhaar card, voter ID, passport, or driving license), address proof (like Aadhaar card, passport, voter ID, ration card, utility bills, or a bank statement), and bank proof (such as a canceled cheque, bank statement, or passbook).
Additionally, recent passport-sized photographs are required. Completing the In-Person verification is crucial, which can now be done online. Once your documents are verified, you will sign an agreement outlining the terms of use for the Demat account. After processing your application, you will receive a unique Beneficiary Owner ID, which will be used for all your future transactions. Ensure your bank account is linked to your Demat account for seamless transactions; this can typically be done during the application or afterward via customer service. With your Demat account active, you can start trading, though you may also need a trading account if your DP does not provide one.
Things to keep in Mind
When opening a Demat account, also check the fees involved, including account opening charges, annual maintenance fees, and transaction fees. Good customer service is important, so choose a DP known for providing it. Additionally, make sure the DP is registered with SEBI (Securities and Exchange Board of India) for your safety.
Opening a Demat account is a straightforward process if you have all the necessary documents and follow the steps diligently. Make sure to choose a reliable broker and understand all the associated costs before proceeding.
Opening a DEMAT account in this generation is a very simple task and it can be done in as little as 5 minutes!
Follow these steps to set-up your DEMAT account hassle free and quickly:
Step 1
Open ekyc.tradejini.com
Click on Open your free demat account
Step 2
Enter your Mobile Number
Step 3
Choose the Segments you want to Trade in
Step 4
Choose either of the given option to verify your income proof. It is recommended to choose Easy Upload, as this will quickly and smoothly run the process of sharing the income.
Step 5
Enter the OTP sent to your Mobile Number.
Step 6
Select the Bank account you want to register with Tradejini.
Click on Approve data sharing.
And wait until you get redirected to the Tradejini website.
Step 8
Now you can proceed either manually or via UPI.
While it is recommended to go with UPI, all you have to do is-
Scan the QR code and pay with as little as ₹1 to your own new Broking account at Tradejini.
Step 9
Get your personal details filled out, such as trading and investment experience, marital status, occupation, and so on.
Step 10
Fill in your Nominee details, if you wish to
Step 11
For the very last process, that is of KYC, all you have to do is upload your Selfie and Electronic Signature.
With the last step, you are done with your account making process and very much ready to trade in all the segments you wish to and selected in the account opening process.
The Bottom Line
Opening a Demat account in India is a straightforward process when you follow the right steps. Choose a reputable and SEBI-registered company along with a depository participant (DP) that suits all your needs and ticks all those boxes.
For a swift and efficient experience, consider using platforms like Tradejini, which offer a streamlined process that can be completed in about five minutes. You can also learn how to reactivate your dormant Demat account online on our blog.
By following the above steps, you can start trading securely and efficiently.
