How to open a demat account online?

What is Demat or Dematerialization?

It is a process that enables physical stock certificates to be converted to electronic form. Following that, shares are easier to maintain and have more accessibility from everywhere on the planet.

You may now monitor and manage your holdings on the go with the help of dematerialization.

What is a Depository Participant? 

A depository participant serves as an intermediary or agent for a central depository, providing the same services to investors and traders as the central depository. The apex trade and investment regulatory agency SEBI now has two central depositories registered.

• NSDL

• CDSL

To open a Demat account online, a depository participant must be affiliated with one of these two authorized operators.

Unique 16-digit client ID. 

A unique 16-digit client ID is provided to each Demat account, which serves as the investor's identification. The first eight digits of the ID indicate the depository participant, while the final eight digits serve as a unique number for the investor, making it easier to sell or buy shares and assets.

Guide to open a Demat account online

The procedure of opening a Demat account is pretty simple. If you're thinking to open one, this step-by-step guide can help you get started.

Step 1: Open a Demat Account Online.

Submit your mobile number and email address in the form to register for a demat account. 

Step 2: Submit your KYC details online.

KYC (Know Your Client) criteria must be completed in order to register with the DP and obtain a demat account online. You may submit your KYC information via the DP's website or the mobile app.

Step 3: Get your documents double-checked

Your DP client will verify your KYC information after you've provided them online to ensure complete transparency.

Step 4: Acquire Beneficiary Owner ID. 

The DP will provide you a unique 16-digit demat account number (BOID) after processing your application. You have successfully opened a demat account after you receive your BOID.

Documents required for opening a demat account.

A copy of your PAN card with your photo as identification

Proof of address: A copy of any of the following papers will serve as proof of residency.

• Voter identification card

• Registered  lease agreement

• Driving license 

• Passport

• Aadhar card.

• Telephone bill (landline)

• Electricity bill

• Bill for flat maintenance

• Ration card 

• Gas Bill

Account statement or bank passbook (not older than 3 months from the date of receipt of documents)

A copy of your bank account passbook or bank statement as proof of your bank account (not older than 3 months)

Proof of your earnings. 

You can open your free demat account in 15 minutes with Klever Trade.