Over time, Equity investing has become common. More investors have started to choose this avenue over the others. This is because Equity investing reaps relatively more profits. It offers investors a higher return potential too. But for this to be possible, they first need a Demat Account. An investor must have them to conduct any form of Online Trading. Following are the steps to open Demat Account online:
Step 1: Select an online trading platform
Pick a reliable trading platform. For this, run a quick search. Once you come across a few notable ones, visit their website for the next steps.
Step 2: Fill out the application form
Select the ‘open Demat Account’ section. Upon doing so, the website redirects you to an application form. Usually, this form asks for details on the following:
- Your full name
- Valid mobile number
- Valid email address
Note that these are the basic details asked across all Online Trading platforms. Prepare to fill in more information if requested.
Step 3: Submit relevant documents
The next and the most crucial step is submitting the relevant documents. Essentially, here is what you need to upload to the website:
- Identity proofs (PAN Card/ Aadhaar Card/ Voter ID)
- Address proofs (Passport/ driving license/ Aadhaar Card/ Bank Account statements of the last six months)
- Income proofs (6 months bank statements/ 3 months salary slips/ Net-worth certificate/ Income Tax Return statement)
- Bank proofs (6 months Bank Account statements/ cancelled cheque/ passbook)
- Your original signature on a blank, white piece of paper
- Two recent passport-sized photographs
Step 4: Complete the KYC process & get Demat Account Number
Complete the trading platform’s KYC process. Then, you receive your Demat Account Number and other details via mail.
Quick tips to open Demat Account quickly
- Choose a reliable and reputed trading platform. Do your research rigorously. You want to kickstart your trading journey with reputable providers.
- While finalising the trading platform, look at its Demat Account opening charges. It lets you stay prepared for any fee.
- Make sure the signature you provide is the same as the one on your PAN Card. Avoid changing signature styles, as this delays your approval. This is especially true if you want to invest in an Initial Public Offering or IPO.
- The passport-sized pictures you submit should not be old. They should effectively represent the way you look currently.
- It is best to upload original or scanned documents. Refrain from submitting blurry screenshots or pictures. Your details should be clear and readable without zoom-ins.
- Provide an active email address and mobile number. You must have access to important notifications regarding your Demat Account opening.
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