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Steps to open Demat account

Procedures for opening a Demat account:

  1. Get in touch with registered depository participants (DP). For a list of DP’s, visit the websites NSDL (National Securities Depository Limited) or CDSL (Central Depository Services Limited).
  2. Download or collect the forms from the respective DP’s office or website. Fill the form, attach two-passport size photographs and required documents with the form.

OR

  1. You can open an online Demat account by using the Aadhar number.
  2. Select the right broker.
  3. Fill up the basic details.
  4. Set a unique password so that you can continue your online application.
  5. Enter your PAN Card details.
  6. Pay account opening charges by net banking or credit card.
  7. Create DigiLocker so that you can share your data with your broker securely.
  8. Fill the KYC details.
  9. Upload all your necessary required documents.
  10. You will receive OTP (One Time Password) on your mobile number and email id. Enter both OTP on Aadhar card for eSign with Aadhar.
  11. Wait for the welcome kit to reach you. It usually takes a week or two to reach.
  12. Nominate your nominee. It’s mandatory.

After opening the depository account, the DP will assign you a beneficial owner identification number. At the time of selling the shares, you need to instruct your broker and give a 'Delivery Instruction' to your DP. Your account will then be debited with the number of shares sold by your DP and you will receive the payment from your broker.

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