How can I open a Demat account by myself?

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A Demat or Dematerialised Account holds your shares electronically. It keeps track of your investments in individual Shares, Bonds, and Mutual Funds. Plus, it eliminates the chances of forgery, damage, and loss to the popular physical certificates before the Demat Account went digital.

Want to open a Demat account online all by yourself? It is not as tough as you would imagine:

Follow these steps to do it quickly:

  1. First, you must approach a Depository Participant or DP, such as a bank or a broker. A DP acts as the guardian of your holdings and manages your securities on your behalf. They are regulated by depository bodies, like National Securities Depository Limited and Central Depository Services Limited.
  2. Then fill out the Demat Account opening form, complete the KYC requirements, and submit the forms.
  3. Once account verification completes, sign a contract with the DP.
  4. Once that is done, you will receive a beneficial owner identification number.

Trading Account

You should open a Trading Account along with Demat. The former is your primary account once you begin trading. It includes securities that you can buy and sell within the same day. To open one, follow these steps:

  1. Once you have selected a broking house, fill out and submit the account opening form and complete the KYC.
  2. The broker will ask for your identity, address, and Bank Account proofs.
  3. Once you submit them, your application gets verified, and you will receive your account details post-verification.
  4. Once you get the details, you can start trading right away.

What documents do you need?

Opening a Demat and Trading Accounts a simple process. If you want to make it easier, you can prepare in advance by keeping these documents handy:

  • Account opening form
  • One to three passport-sized photos
  • Address proofs – passport, Aadhaar card, Ration Card, etc
  • Identity proofs – driving license, Aadhaar card, Voter’s ID, etc
  • Income proofs – bank statement, salary slips
  • Bank Account proofs
  • PAN card

How much fee do you need to pay?

Demat account

For opening a Demat account, you need to pay the following fees:

  • Account opening fees
  • Annual maintenance charges
  • Custodian fee
  • Transaction fee
  • Dematerialization fee

Trading Account

While opening Trading Accounts, you pay the following charges:

  • Account opening charges
  • Annual maintenance fees
  • Transaction fees

Disclaimer: ICICI Securities Ltd. ( I-Sec). The registered office of I-Sec is at ICICI Securities Ltd. – ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, India, Tel No : 022 – 6807 7100. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purposes and may not be used or considered as an offer document or solicitation of an offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investments in the securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. The contents herein mentioned are solely for informational and educational purposes.

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