To open a demat account online in India, you need to submit certain documents that meet legal requirements. A demat account allows you to hold, buy and sell securities electronically.
Proof of Identity (PoI):
A valid proof of identity (PoI) is required to verify your identity. You can provide any of the following documents as a PoI:
PAN Card:
Permanent Account Number (PAN) card is mandatory for all financial transactions including the idea to open demat account online. This acts as both a PoI and Proof of Address (PoA).
Aadhar Card:
Aadhar card issued by the Unique Identification Authority of India (UIDAI) can be used as a PoI.
Passport:
A valid Indian passport will also serve as his POI document. Voter ID: Voter ID issued by the Election Commission of India is a valid PoI document for him.
Driver’s License:
A valid driver’s license with photo and signature is also an acceptable document. Proof of Address (PoA):
To prove your residential address, you must provide a valid Proof of Address (PoA) document. The following documents will be accepted as PoA:
Aadhar Card:
Aadhar card also serves as a valid PoA document. Passport: Passport is valid as both PoI and PoA. Check for more on Share Market Trading App.
Voter ID:
Voter ID can be used as PoA. Electricity bill: You can use your current electricity, water, or gas bill (within 2-3 months) as your PoA. Please make sure your name and address appear on the invoice.
Bank Statement:
A bank statement is a reliable PoA document if it’s not older than three months and bears your name and address. Recent Passport-Sized Photographs:
You’ll need recent passport-sized photographs as part of the application process to open a demat account online. These photographs should be clear, with a white background, and meet the specified dimensions and format. Check for more on Share Market Trading App.
Canceled Cheque:
Providing a canceled cheque bearing your name and the account number is required. It helps in linking your trading account to your bank account for fund transfers.
Income Proof:
Income proof might be necessary for specific brokers or DPs, especially when you intend to trade in derivatives or margin trading. You can use your salary slips, Form 16, or bank statements as income proof. Check for more on Share Market Trading App.
KYC Form:
The Know Your Customer (KYC) form is a standard document provided by your Depository Participant (DP) or broker. You must fill this form with accurate information. Application Form:
An application form specific to your chosen DP or broker is required. This form is typically available on the DP’s website or provided in person. Check for more on Share Market Trading App.
PAN Card Copy:
Although your PAN card is a PoI document, some DPs may request a copy as part of the documentation. Aadhar Card Linking:
The Securities and Exchange Board of India (SEBI) has mandated the linking of Aadhar cards with Demat accounts for enhanced security.
e-KYC Documents:
Some DPs offer e-KYC (Electronic Know Your Customer) as a paperless and efficient option for document submission. In such cases, you’ll need your Aadhar number, PAN card, and mobile phones to receive an OTP (One-Time Password) for verification to open demat account online.
