Thursday, 2 August 2018

How do you open a demat account?

Opening a Demat account is straightforward and simple. Below is step by step process to open a demat account.

Step 1: For opening a demat account, you have to contact a Depository Participant (DP) registered with SEBI, an agent of depository and fill an account opening form. The list of DPs is present on the websites of depositories: National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).

Step 2: Along with the filled form you will have to submit photocopies of a few documents like proof of identity and proof of address.

Step 3: You will be required to sign an agreement with Depository Participant in the depository prescribed standard format, which provides details of duties and rights of investor and DP. You are authorized to get a copy of the agreement and schedule of charges.

Step 4: The Depository Participant will open an account and share your demat account number with you.

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