Following a few simple steps will ease the process of open your account or get the right solution for your query, “How to Open Demat Account”.
First of all, you have to decide on a DP or Depository Participant. DP may be any authorized bank, financial institution, or broker. You have to choose the right one as per your requirement and convenience, follow steps, and open trading account or Demat account.
The next step after selecting the right DP is to submit a duly filled account opening form and KYC form or Know Your Customer Form.
ID Proof and Passport Size Photographs Are Required to Complete the Process
A Pan Card is required to submit along with Residence Proof, ID proof, and Passport-Size Photographs. Don’t forget to carry original copies of all for verification purposes. You will also need to give a canceled cheque for dividend bank details. It is also important to read all terms and conditions carefully. You are advised not to hesitate to clear your doubts. When you form is submitted to the DP, it will be signed by an authorized person. A copy of the same will be given to you.
As soon as the account is opened, you will get a unique ID that will help you to get access to your Demat account. You will get instructions of start trading or using your Demat account.
Here, the most vital thing is to search for the right DP and start the procedure of open trading account online and demat account.
So, what you are looking for, follow the simple step and you will get the right solutions in real time manner.