In India, a Demat account can be opened with a depository participant (DP). The National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) are the two depositories in India that offer depository services to market participants. These depositories have multiple depository participants that offer Demat accounts to people.
Published on 01 March 2023
OPEN A FREE* DEMAT AND TRADING ACCOUNT
IN 15 MINS*
The process for Demat account opening in India is uniform across DPs. You need to fill an account opening form, KYC form, and submit documents as prescribed by the depositories.
In this article, we will take a detailed look at the documents required for the Demat account opening in India.
Documents needed for Demat account opening
The types of documents needed to open a Demat account in India are as follows:
You need to submit a copy of your PAN Card with a clear photograph. This is mandatory for all applications unless you are exempt from applying for a PAN.
Photograph
1-3 recent passport-sized colour photographs of all applicants.
Proof of Identity
One of the following documents can be submitted as a valid proof of identity:
PAN Card with a clear photograph
Aadhaar Card
Passport
Voter ID Card
Driving License
An ID Card or document with the applicant’s photograph issued by :
Any department of the State Government
Any department of the Central Government
Regulatory or Statutory bodies
PSUs
Scheduled Commercial Banks
Public Financial Institutions
Colleges that are affiliated with universities
Professional bodies like ICSWA, ICAI, Bar Council, etc.
Credit or Debit cards issued by banks
Proof of Address
One of the following documents can be submitted as a valid proof of address:
Passport
Voter ID Card
Ration Card
Registered Agreement (Lease or Sale) of residence
Driving License
Maintenance Bill copy of the apartment
Insurance Copy of the house
Utility bills that are not more than three months old (landline telephone bill, electricity bill, or gas bill)
Statement or Passbook of your bank account that is not more than three months old
Proof of address issued by:
Manager of a scheduled commercial bank, scheduled co-operative bank, or foreign bank
Gazetted Officer
Public Notary
Elected representatives to the Parliament or the Legislative Assembly
Government or Statutory Body
ID Card with address issued by:
Any department of the State Government
Any department of the Central Government
Regulatory or Statutory bodies
PSUs
Scheduled Commercial Banks
Public Financial Institutions
Colleges that are affiliated with universities
Professional bodies like ICSWA, ICAI, Bar Council, etc.
Any valid proof of address in the name of the spouse
Proof of Bank Account
You might be asked to submit a cancelled cheque as proof of the bank account that you want to connect with your Demat account.
Proof of Income
One of the following documents can be submitted as valid proof of income:
Income Tax Return Acknowledgement slip
A Certificate of Net Worth certified by a Chartered Accountant
A copy of audited annual accounts certified by a qualified Chartered Accountant
If you are a salaried professional, then the recent salary slip or Form 16 to prove income
Bank account statement, not more than six months old, reflecting the history of your income
You need to submit photocopies of these documents that are attested by one of the following:
Public Notary
Gazetted Officer
Manager of a scheduled commercial bank, schedule co-operative bank, or multinational foreign bank with the name, designation, and seal clearly affixed
If the applicant is an NRI, then the attestation needs to be done by:
Authorized officials of the overseas branches of scheduled commercial banks that are registered in India; or
Public Notary; or
Court Magistrate; or
Judge; or
Indian Embassy/Consulate where the applicant resides
Conclusion
It is important to note that the depository participant might ask you to submit additional documents if it is not satisfied with the ones provided by you. Also, many DPs have started offering a completely paperless Demat account opening process if the applicant’s Aadhaar Card is linked to his/her mobile number by using Aadhar verification.
Before you initiate the process of Demat account opening, ensure that you check the list of documents and keep them ready so that the process is quick and hassle-free. Also, make sure that you fill the account opening form carefully and provide correct details to avoid delays due to corrections.
Team Espresso
We care that you succeed
Bringing readers the latest happenings from the world of Trading and Investments specifically and Finance in general.
Whether it is to hold, buy, or sell shares in the capital market, an investor needs to open a Demat account and a trading account with their chosen depository participant (DP). A Demat account allows investors to hold their shares and securities. For trading in India, however, an investor needs to open a trading account first. Before they begin trading in India, every investor needs to acquaint themselves with the different types of trading accounts and the types of Demat accounts that are catered to address the varied demands of the investors.
In the past, when you bought a company’s shares you were provided physical shares certificates from the stock exchange bearing your name. A lot of the record-keeping was also done in hard copies, and every time a buy or sell transaction was done, more paperwork ensued.
If you wish to trade in the stock market, you need a demat account. This type of account allows investors to hold their shares of stocks and other securities with the help of a custodian bank instead of having them physically.
While some DPs offer the facility of uploading scanned documents to get the account opened, they might have a process relating to In-Person Verification before allowing you to start trading. Make sure that you talk to the DP and understand the complete process before applying. You can also opt for the Aadhar verification process, where your Demat account can be opened without any documents.
Yes. In fact, the stockbroker might ask you to submit additional documents if required to extend the facility of online trading. However, this can be a good option since you will be able to open a Demat and trading account with one set of documents. Make sure that you talk to the stockbroker and take a list of documents needed to open a Demat account, and check for alternatives if you don’t have certain documents available with you.
There are various benefits of a Demat account, such as immediate securities transfer, no risk of loss, or theft, convenient nominations, regular statement information being sent to the customer, etc.
Yes, you can undoubtedly change the address in your Demat account. In order to do so, a few documents are required, such as a request for address change signed by the account holder, self-attested ID proofs, the new address proof, and a self-attested new address proof.
The minimum age for opening a Demat account is 18 years old. However, minor Demat accounts can be opened by the parents/guardians of the minor under their name.
Related Articles
Various Types of Trading and Demat Accounts
Whether it is to hold, buy, or sell shares in the capital market, an investor needs to open a Demat account and a trading account with their chosen depository participant (DP). A Demat account allows investors to hold their shares and securities. For trading in India, however, an investor needs to open a trading account first. Before they begin trading in India, every investor needs to acquaint themselves with the different types of trading accounts and the types of Demat accounts that are catered to address the varied demands of the investors.
In the past, when you bought a company’s shares you were provided physical shares certificates from the stock exchange bearing your name. A lot of the record-keeping was also done in hard copies, and every time a buy or sell transaction was done, more paperwork ensued.
If you wish to trade in the stock market, you need a demat account. This type of account allows investors to hold their shares of stocks and other securities with the help of a custodian bank instead of having them physically.
While some DPs offer the facility of uploading scanned documents to get the account opened, they might have a process relating to In-Person Verification before allowing you to start trading. Make sure that you talk to the DP and understand the complete process before applying. You can also opt for the Aadhar verification process, where your Demat account can be opened without any documents.
Yes. In fact, the stockbroker might ask you to submit additional documents if required to extend the facility of online trading. However, this can be a good option since you will be able to open a Demat and trading account with one set of documents. Make sure that you talk to the stockbroker and take a list of documents needed to open a Demat account, and check for alternatives if you don’t have certain documents available with you.
There are various benefits of a Demat account, such as immediate securities transfer, no risk of loss, or theft, convenient nominations, regular statement information being sent to the customer, etc.
Yes, you can undoubtedly change the address in your Demat account. In order to do so, a few documents are required, such as a request for address change signed by the account holder, self-attested ID proofs, the new address proof, and a self-attested new address proof.
The minimum age for opening a Demat account is 18 years old. However, minor Demat accounts can be opened by the parents/guardians of the minor under their name.
Sharekhan Comtrade Private Limited (TM) operates the web site accessible from the URL www.myespresso.com (the “web site”').
Sharekhan Comtrade Private Limited is committed to protecting your privacy and utilising technology that gives you the most powerful, safe, online experience that you can get anywhere else.
Sharekhan Comtrade Private Limited does, however, gather certain information that is provided by you to the Web Site. Sharekhan Comtrade Private Limited believes that by collecting this information Sharekhan Comtrade Private Limited is able to provide you with a personalised web experience, and to assist its own sales team and advertisers in efficiently reaching an appropriate audience.Sharekhan Comtrade Private Limited does, however, gather certain information that is provided by you to the Web Site. Sharekhan Comtrade Private Limited believes that by collecting this information Sharekhan Comtrade Private Limited is able to provide you with a personalised web experience, and to assist its own sales team and advertisers in efficiently reaching an appropriate audience.
Sharekhan Comtrade Private Limited requests the minimum information it believes necessary to achieve this goal.
The following discloses Sharekhan Comtrade Private Limited's information gathering and dissemination practices for the Web Site:
System Data:
Sharekhan Comtrade Private Limited uses your IP address to help diagnose problems with our server and to administer the web site. Your IP address is used to identify you and your shopping cart and to gather broad demographic information.
Registration Data:
The Web Site's registration form may require users to give us contact information (like their name, phone number and e-mail address), unique identifiers (like their PAN Number) and demographic information (like their pin code, age or income level). The Web Site uses customer contact information from the registration form to send the users information about Sharekhan Comtrade Private Limited and promotional material from some of Sharekhan Comtrade Private Limited's partners. The customer's contact information is also used to contact the visitor when necessary. Unique identifiers (such as PAN numbers) are collected to verify the user's identity. Demographic and profile data is also collected at the Web Site. We use this data to tailor the visitor's experience at the Web Site, showing them contents that we think they might be interested in, and displaying the contents according to their preferences. This information is shared with advertisers on an aggregate basis.
Links and Co-Branded Sites:
This site contains links to other Web Sites which are not necessarily been screened or reviewed by www.myespresso.com. Sharekhan Comtrade Private Limited is neither responsible for the privacy practices or the contents of such Web Sites nor shall be held answerable for the inaccurate, inappropriate or offensive data, material, information, products and services that may be viewed on those sites.
Sharekhan Comtrade Private Limited may operate a number of co-branded sites. Policies regarding information collection and sharing may differ on some of these co-branded sites. If you have any particular questions, you should check the privacy statement that appears on each co-branded site.
Order Forms:
The Web Site uses an order form for customers to request information, products and services. The Web Site collects visitors' contact information (like their mobile number or e-mail address), unique identifiers (like their PAN number) financial information (like their account or credit card numbers) and demographic information (like their pin code, age or income level). Contact information from the order form is used to send orders, information about Sharekhan Comtrade Private Limited, and promotional material from some of Sharekhan Comtrade Private Limited's partners to the visitors of the Web Site. The visitor's contact information is also used to get in touch with the visitor when necessary. Financial information that is collected is used to check the users' qualifications and bill the user for products and services. Unique identifiers (such as PAN numbers) are collected from Web Site visitors to verify the user's identity.
Surveys and Contests:
The Web Site's online surveys ask visitors for contact information (like their mobile number or e-mail address) and demographic information (like their pin code, gender, age or income level). The Web Site uses contact data from its surveys to send the user information about Sharekhan Comtrade Private Limited and promotional material from some of Sharekhan Ltd.'s partners. The customer's contact information is also used to contact the visitor when necessary. Users may opt-out of receiving future mailings; see the choice/opt-out section below. Demographic and profile data is also collected at the Web Site. The Web Site use this data to tailor its visitor's experience at the Web Site, showing them content that it thinks they might be interested in, and displaying the content according to their preferences. This information is shared with advertisers on an aggregate basis.
Sharekhan Comtrade Private Ltd run contests on the Web Site in which we ask visitors for contact information (like their e-mail address). Sharekhan Comtrade Private Limited uses contact data from its contests to send users information about Sharekhan Comtrade Private Ltd. and promotional material from some of our partners. The customer's contact information is also used to contact the visitor when necessary. Users may opt-out of receiving future mailings; see the choice/opt-out section below.
Third-Party Advertisement Servers:
Sharekhan Comtrade Private Limited engages the services of an outside advertisement company to display advertisement on the Web Site. These advertisements may contain cookies. While Sharekhan Comtrade Private Limited uses cookies in other parts of the Web Site, cookies received with banner advertisements are collected by the Advertisement company, and Sharekhan Comtrade Private Limited does not have access to this information.
Protection of your Data and Information:
The privacy and protection of your data and information provided to us is of vital importance. Sharekhan Comtrade Private Limited shall ensure to safeguard the security and confidentiality of any information you share with us. Any personally identifiable information of the customers obtained by us shall not be used or shared other than for the purposes to which the customers consents. However security and confidentiality of information cannot be guaranteed cent percent. Hence despite our utmost efforts to protect your personal information, Sharekhan Comtrade Private Limited and www.myespresso.com cannot warrant the security of any information you transmit to us through our online services. Such transmission of your personal information is done at your own risk.
Disclosure of Customer Information :
Sharekhan Comtrade Private Limited and www.myespresso.com shall not deliberately disclose customer's personally identifiable information to any unauthorized third person, save and except where such information shall be disclosed in good faith and for the purpose of law for the time being in force or to protect the rights and property of Sharekhan Comtrade Private Limited and www.myespresso.com.
Public Forums :
The Web Sites makes chat rooms, forums, message boards and/or news groups available to its users. Please remember that any information that is disclosed in these areas becomes public information and you should exercise caution when deciding to disclose your personal information.
Supplemental Information :
The Web Site supplements the information that you provide with information that is received from third parties.
The Web Site DOES NOT entice by the prospect of a special game, prize or other activity, to divulge more information than is needed to participate in the activity.
Further to the above, in light of the recently notified Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011. (Hereinafter referred to as the Rules)
The following shall be deemed to be sensitive information :
Password;
Financial information such as Bank account or credit card or debit card or other payment instrument details;
Physical, physiological and mental health condition;
Sexual orientation;
Medical records and history;
Biometric information;
Any detail relating to the above clauses as provided to body corporate for providing service; and
Any of the information received under above clauses by body corporate for processing, stored or processed under lawful contract or otherwise:
provided that, any information that is freely available or accessible in public domain or furnished under the Right to Information Act, 2005 or any other law for the time being in force shall not be regarded as sensitive personal data or information for the purposes of Rules.
Collection of Information:
Compliance with KYC guidelines as per SEBI / Exchanges / Or any other Act, law or regulation requiring the same and any internal KYC guidelines formulated by Sharekhan Comtrade Private Limited.
In order to provide enhanced trading experience to the client.
In order to provide any further information to be provided to regulators.
Such information may be collected in a manner that the client is always aware of the collection and purported usage of the same. The client shall have an option to withdraw consent to share the information. However such intimation shall be required in writing. Such intimation shall only be taken into account from the date on which the same is received. Sharekhan Comtrade Private Limited may choose to stop services to such a client in case such intimation is received. Such information shall only be used for the purpose it is collected.
Clients would be allowed an option not to disclose any information to be collected, provided the same is in compliance with regulatory requirements.
Disclosure of information:
Disclosure of sensitive information would be as per the terms agreed by the clients. For any change in such terms, the clients would be informed.
Provided no consent may be required in case the same is being shared as per compliance guidelines or as required by regulators.
Any information being disclosed to third parties would be in accordance with the Rules and would be done provided such third party has the same level of compliance guidelines as Sharekhan Comtrade Private Limited.
Sharekhan Comtrade Private Limited shall allow clients to review their personal information and the same shall be allowed to be edited provided exchange guidelines relevant to the same are followed.
Sharekhan Comtrade Private Limited shall maintain reasonable security practices and procedures and maintain a comprehensive documented information security programme. In the event of an information security breach, Sharekhan Comtrade Private Limited or a person on its behalf shall be required to demonstrate as and when called upon to do so by the agency mandated under the law, that there have implemented security control measures as per their documented information security programme and information security policies and information security policies that contain managerial, technical, operational and physical security control measures that are commensurate with the information assets being protected with the nature of business.
KYC Languages
Download Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don't's) in Vernacular Language :
Note: "This document is a translated version of the client registration documents in English and is being provided in vernacular language to facilitate better understanding by the investors. In case of any ambiguity, the contents of the English version would prevail."
NDNCR Terms & Conditions
By accepting the Terms & Conditions, you authorise Espresso, its representatives and agents to provide information about various products, offers and services provided by Espresso through any mode, including telephone calls, SMSes, emails, letters and any other mode of communication. You also confirm that laws in relation to unsolicited communication referred in "National Do Not Call Registry" as laid down by "Telecom Regulatory Authority of India" will not be applicable for such information/communication.
Filing Complaints on SEBI Complaint Redress System (SCORES) - Easy and Quick
Register on the SCORES portal
Mandatory details for filing complaints on SCORES:
Name
PAN
Address
Mobile Number
Email ID
Benefits:
Effective communication
Speedy redressal of grievances
You can file complaints on SCORES through https://scores.gov.in/scores/Welcome.html
