How to open Demat Account online
Documents required for opening a Demat Account online:
- PAN Card of Applicant
- Aadhar Card of Applicant
- Bank Passbook of Applicant (for account number)
- PAN Card of Nominee (only if applicant wants to appoint a nominee)
- Aadhar Card of Nominee (only if applicant wants to appoint a nominee)
Other details required:
- Phone Number of applicant (which is linked with Aadhar Card)
- Email of applicant
- Phone Number of nominee (which is linked with Aadhar Card)
- Email of nominee
Now one can proceed with application process (let us take the example of PNB-ONE APP for opening a Demat Account):
- Open the APP and log in.
- After logging, choose the option given as “Depositories and Mutual Funds”.
- Then, choose the option “Demat”.
- After that, three options will be shown as:
- Open Demat Account
- Demat Viewing
- Check status.
- Choose the option “open Demat Account”.
- Enter the Account Number.
- A prefilled page will open, check the provided details and if one wishes to change anything, then it can be done at this stage like email, choose the way in which applicant receive the statement i.e., electronically or physically and select if applicant wants to appoint a nominee or not.
- Then, provide the details like PAN, Phone number, Email, Residential Address of Nominee (more than one nominee can also be appointed).
- Fill the income details of applicant from drop down menu, chose the profession as given in drop down menu.
- Agree with terms and conditions.
- After that, E-sign (E-sign is the facility which enables the users to sign the document digitally by using the Aadhar Number) the document with Aadhar of Applicant.
Now the application process is completed, and the application status will show as initiated, after one week check application status if it’s approved or not. If status is approved, then proceed with linking the Demat Account with Bank Account.
For linking the Demat Account with Bank Account do the following:
Again, go to Demat option and choose option Demat Viewing
- Click on Link Demat
- Enter Account Number
- Enter Depository Type *1
- Enter Depository Participant ID *2
- Click on continue.
*1: Depositories: depository helps in storing securities in digital format, there are 2 depositories in India, National Securities Depository Limited (NSDL) and Central Depository Services India Limited (CDSL)
*2: Depository Participant ID: Depository Participant ID is a number assigned by the NSDL or CDSL to a Depository Participant such a Bank, Financial Institution or Brokerage Firm.
