Documents Required for Opening a Demat Account

To enter the stock market and start the investment journey in the share market, one is required to open a Demat & trading account. A Demat account helps hold the shares in digital or electronic form. It is a safe and secure way to hold the securities with ease of handling and maintenance. There are a few documents required for opening a demat account that need to be submitted while opening the account.

Eligibility to Open a Demat Account

  • Nationality

    An individual should be a citizen of India
  • Age

    An individual should be 18 years or above (for Online Demat account opening Process)
  • Pan Card

    A PAN Card is a necessity to open a Demat Account
  • Income Proof

    Any one of the following - 6 months bank statement, net-worth certificate, salary slips of three months, Income Tax Return (ITR) statement, Demat holding statement/holding report.
  • Signature on white paper

    Sign on a white paper and take a photo of it. It should match with the one on your PAN card.
  • Bank Proof

    Any one of the following - Passbook, cancelled cheque, bank account statements for the last 6 months.
  • Live Photograph

    One passport size photograph is required.

Proof of Identity

In proof of identity, a person who is willing to open a Demat account can submit either of the below documents required to open a demat account in India:

PAN card also being proof of identity is a mandatory document required for opening a demat account.

  • Unique Identification Number (UID) (Aadhar, Passport, Voter ID card, Driving License)
  • Your ration card and it should have your photograph.

Proof of Address

With respect to address proof, you can submit any one of the below documents required to open a demat account in India. However, kindly discuss with your chosen broker regarding the address proof documents required by them at the time of submission.

  • Passport (If the document is expired, it will not be valid)
  • Voters ID Card
  • Bank Passbook or Cheque or Account statement
  • Driving License. (If the document is expired, it will not be valid)
  • Your ration card
  • An insurance copy
  • Any registered lease/sale agreement of your current residence

Proof of Income

Income proof needs to be submitted to trade in the Futures and Options segment. You can submit any of the below documents:

  • Latest 6 Months Bank Statement, with the account holder name account number and IFSC code mentioned on the statement.
  • Latest 3 Months of Salary Slip
  • Net-Worth Certificate
  • Demat Holding Statement/Report
  • ITR Statement
  • Photograph
  • Cancelled Cheque
  • Signature on White Paper

Attestation of Documents Needed to Open a Demat Account

Given below is a list of people who are authorized to attest to your proof:

  1. Authorized officials of overseas branches of scheduled commercial banks which have an Indian registration.
  2. The branch manager of any public sector Indian bank that’s situated near your residence.
  3. A notary public.
  4. Any court magistrate
  5. A judge
  6. An Indian Embassy/Consulate General in the country where you reside.

Kindly note, an NRI wanting to open a Demat Account with an Indian DP needs to choose between non-resident external/non-resident ordinary. There is a separate list of documents needed for the same.

Conclusion

Once you have these documents ready, you can open a Demat and trading account and start your investment journey.

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Frequently Asked Questions (FAQs)

The documents required for a Demat account vary from one broker to another, but the most common documents are:

  • PAN card
  • Proof of address (Aadhaar card, driving licence, passport)
  • Photograph
  • Signature on white paper
  • Income proof (for trading in derivatives such as F&O)

You cannot open a Demat account without documents. The documents are required to verify your identity and address.

Income proof is not mandatory to open a Demat account, but it is required if you want to trade in derivatives such as futures and options.

Yes, you can open a Demat account without a bank account. However, you will need to link your Demat account to a bank account in order to make and receive payments.

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