How To Open Demat Account | Demat Account Opening Procedure

Investors who are seeking to Open a Demat Account should approach a DP (depository participant). You can find the list of registered DPs in the websites of National Securities Depository Limited and Central Depository Service Limited. Investor needs to fill out and submit an application form along with copies of any one of the approved documents to serve as proof of identity (POI) and proof of address (POA) as specified by SEBI. Investor also provides 2 photos signed by his own.production of PAN card in original at the time of opening of account has been made mandatory effective from April 1, 2006.

A demat account can be opened with no balance of shares and there is no minimum balance to be maintained either, you can have a zero balance Demat account.

To Open an Demat Account, The investor has to sign an agreement with DP in a depository prescribed standard format, which details rights and duties of investor and DP. DP should provide the investor with a copy of the agreement and schedule of charges for their future reference. After that DB will open a Demat Account and will provide a account number called BO ID (Beneficiary Owner Identification number) to the investor. After getting your account number you may apply for buying the shares from any DP or a broker. A DP revised the charges after giving a 15 days notice.

Tag: How to open a Demat Account, Opening an Demat account, Demat account opening procedure