Everything you need to know about opening a Demat account

  • Posted By : reliancesmartmoney.com
  • Tuesday Jan 29, 2019

To begin trading in equities, you need to have a:

• Bank account: Use this money for trading
• Trading account: Helps you place buy and sell orders in the stock market, links bank & demat account
• Demat account: Enables you to store your shares in an electronic platform

How to open a demat account?

Here are the steps for opening a demat account with reliancesmartmoney.com:

1. Choose an intermediary

You may choose a bank, a brokerage, or any other financial institution as your intermediary. An intermediary works as a middle-man between the stock exchange and the investor. You can start your online account opening procedure by filling up an account opening form with reliancesmartmoney.com.

2. Documents required to open a demat account

Along with your account application form, you need to enclose documents for identity and address proof.   

List of mandatory documents to open a KYC account online with reliancesmartmoney.com are:
-        Identity Proof
-        Address Proof
-        Income Proof
-        A cancelled cheque for account linking
-        Pan Card
-        Passport size photographs

3. Contract

Next, you should sign an agreement with your intermediary that includes details on the rights and duties of the investor and the intermediary. You will receive a copy of this agreement and details of charges, for future reference. It is wise to check the document carefully before signing it.

4. Demat account number

After completing all the steps above, your bank/ brokerage firm (intermediary) will open your demat account. They will then provide you with your demat account number, also known as beneficial owner identification number (BO ID). This will complete your account opening procedure.

After opening your demat account, you may start trading in equities. Investing in equities can provide good long-term returns on your investments. Additionally, you can be more well-versed and #makeasmartmove with the investment choices by using the research provided on reliancesmartmoney.com. Our team provides recommended stocks and comparisons between returns for all investors, available online - at one click.

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