Let’s open a Demat account online!!

• Step 1. First, select where you would like to open a Demat Account then select the Depository Participant, you would like to open Demat account with. Most brokerages and financial institutions offer the service.
• Step 2.Then fill up an account opening form and submit along with copies of the specified documents, and a passport-sized photograph. You also need to have a PAN card. Also, for verification, original documents are required.
• Step 3.You will be provided with a copy of the rules, and regulations, the terms of the agreement, and therefore, the charges that you will simply incur.
• Step 4.During the process, an In-Person Verification would take place wherein a member of the DP’s staff would contact you to check the details provided in the account opening form.
• Step 5. You will be provided with a Demat account number and a client ID once the application is processed. You can access your Demat account online by using these details.
• Step 6. Now you are a Demat account holder, and you would need to pay some fees as the annual maintenance fee levied for maintenance of the Demat account and the transaction fee -- levied for debiting securities to and from the account on a monthly basis. In addition to this, you will have to pay some charges for converting the shares from the physical to the electronic form or vice-versa.
• Step 7.Minimum shares: A Demat account are often opened with no balance of shares. It also doesn’t require that a minimum balance be maintained.