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Step 1
Register with your Mobile Number
Step 2
Verify OTP
Step 3
Upload Documents (Aadhaar, PAN)
Step 4
E-sign with Aadhaar
Documents required to open a Demat Account
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What is a Demat Account?
A Demat Account, short for dematerialized account, is an electronic account that holds securities such as stocks, bonds, mutual funds, and exchange-traded funds (ETFs) in electronic form. It replaces the traditional method of holding physical share certificates.
Opening a Demat Account is essential for trading or investing in the stock market. To open a Demat Account in India , you have to choose a broker that provides you with the best Demat Account services. By opening a Demat Account, you can enjoy the convenience of managing your investments electronically, eliminating the risk of loss or damage to physical share certificates. It also provides easy access to your investment portfolio and enables quick and secure transactions.
What documents are required toopen a Demat Account?
To open a Demat Account, an individual is required to carry the following documents
- - PAN Card
- - Aadhaar Card
In case, where an individual wants to trade in Futures and Options and other assets like Commodities and Currencies, s/he is required to permit confirmation to fetch his/her bank account details through account aggregator - which automatically fetches 6 months statement from the mentioned account number and bank.
Who can open a Demat Account in India?
1. Individual Resident: An individual who has been physically present in India for 182 days or more in the taxing year, or stays in India for at least 365 days in the immediately preceding four years and 60 days or more in the relevant financial year.
2. Hindu Undivided Family (HUF): A family comprising all individuals descended linearly from a common ancestor, including the male ancestors' wives and daughters. The Karta, typically the oldest male family member, is the signatory authority for HUF Demat Accounts.
3. Domestic Corporation: A business operating in its home country, subject to specific regulations and tariffs.
4. Overseas Indians: Non-Resident Indians (NRIs) can also open Demat Accounts by mentioning their NRI status in the account opening form.
5. Clearing Member: A broker's portfolio where client's securities are kept, as well as where securities from central depositories are collected by the broker.
What are the benefits of opening a Demat Account?
By opening a Demat Account online, you get access to benefits like:-
1. Safe and Convenient: Eliminates the risk of theft, loss, or damage associated with physical share certificates. Securities are held electronically, making transactions and tracking investments convenient.
2. Easy Access: Provides easy access to your investment portfolio, allowing you to track holdings, view transactions, and receive updates conveniently online.
3. Quick and Efficient Transactions: Enables quick and efficient buying and selling of securities, with transactions settled in a few days.
4. Lower Costs: Reduces paperwork and associated costs, such as stamp duty, compared to physical share transactions.
5. Portfolio Diversification: Allows you to invest in a wide range of securities, including stocks, bonds, mutual funds, and ETFs, helping you diversify your investment portfolio.
6. Nomination Facility: Allows you to nominate a person to manage your Demat Account in the event of your death.
7. Loan Against Securities: Provides the option to avail loans against securities held in your Demat Account, offering liquidity without selling your investments.
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FAQs On Demat Account
What is a Demat Account and what are the types of Demat Account?
A Demat Account is an account that holds financial securities in electronic form. In India, Demat Accounts are maintained by two depository organisations, NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).
There are 3 types of Demat Account:
- Regular Demat Account: For the investors/traders who reside within India.
- Repatriable Demat Account: For the NRIs. Funds can be transferred abroad. It requires an associated NRE bank account.
- Non-Repatriable Demat Account: For the NRIs. The fund cannot be transferred abroad. It requires an associated NRO bank account.
What are the benefits & uses of a Demat Account?
A Demat Account helps keep your equity investments, your Mutual fund units, bonds, and other financial assets safe and secure in an online electronic environment. With a Demat and trading account, you can not only Invest in upcoming IPOs of companies but also start a mutual fund, digital gold and SIP as well.
Here’s a quick look at some of the other uses of a Demat Account:
- Enables easy and quick share transfers.
- Highly secure storage with zero risk.
- Can be accessed at any time from anywhere through the internet.
- Very less paperwork involved.
Who can open a Demat Account?
Any individual resident of India, HUF, NRI, proprietary firm, partnership firm or company can open a Demat and Trading Account with Motilal Oswal.
What documents are required to open a Demat Account?
To open a Demat and Trading Account with Motilal Oswal, individuals are required to hold the following documents handy:
- PAN Card.
- Aadhaar Card (Linked with Mobile Number).
What charges are applicable to open a Demat Account?
There are no charges applicable to open a Demat Account with Motilal Oswal. You can open a Demat Account online instantly at 0 cost.
What is the minimum amount required to open a Demat Account?
There is no minimum amount required to open a Demat Account with Motilal Oswal. You can open your Demat and Trading Account with Motilal Oswal for Free.
Can I open two/multiple Demat Accounts?
Of course. You can open multiple Demat Accounts under your name as long as the Demat Accounts are not with the same Depository Participant (DP). For instance, if you already have a Demat account with another DP and wish to open another one with Motilal Oswal, you can do so.
How to open an online/paperless Demat Account?
To open an online Demat Account with Motilal Oswal, you are required to follow the given below steps:
- Download and install the MO Investor application on your mobile phone.
- Register with your mobile number and verify it with an OTP.
- Register with your email id and verify it with an OTP.
- Add your PAN Card details.
- Add your Bank details.
- Add your Aadhaar Details.
- E-sign through Aadhaar-based OTP verification.
- Complete your Demat Account Activation.
Alternatively, you can also log in through web, by clicking on www.motilaloswal.com/open-demat-account/ and performing the same steps as above.
Your Demat Account credentials will be sent to your registered email id once the account is activated successfully.
Can a Demat Account be opened in the name of Joint Holders?
Yes, a Demat Account can be opened in single or joint names. However, a Demat Account can have a maximum of three account holders - 1 main holder and 2 joint holders.
Can an NRI open a Demat Account in India?
Yes, a Demat Account can be opened in single or joint names. However, a Demat Account can have a maximum of three account holders - 1 main holder and 2 joint holders.Of course, It is certainly possible to open a Demat Account for NRIs through Motilal Oswal. But to do so, you will have to possess either an NRO or NRE bank account and submit a Portfolio Investment Scheme letter of approval from the Reserve Bank of India along with your Demat Account application form and other supporting documents
Can I open a Demat Account without opening a Trading Account?
No. You cannot hold a Demat Account without a Trading Account. A Demat Account is only an account to hold your shares. If you intend on selling the shares, you will need a Trading Account.
Can I link demat and Trading Account?
Yes. If you intend to sell the shares that you hold,you will need to link your Demat Account with your Trading account.
What is a joint Demat Account?
Just like a Joint Bank Account, a Joint Demat Account is a shared Demat Account in between two or three individuals. Only one Demat Account holder is registered as the primary account holder, while the other account holders become secondary account holders.
How long does it take to open a Demat Account?
It takes only 15 minutes to open a Free* Demat Account with Motilal Oswal.
Is Demat Account compulsory to apply for an IPO in India?
Yes. If you intend on applying for an IPO in India, it is mandatory to hold a Demat Account. However, the choice for a Trading Account is optional.
Can I withdraw money from a Demat Account?
Yes. You can add and withdraw funds from your Demat Account anytime.
How to check Demat Account balance?
To check your funds on RISE, follow the below given steps
- Log in to your Account
- Click on “More” option
- Under - “All Features” list, click “Add/Withdraw Funds”
- The screen will display the ‘Available Margin’ which will be your fund balance in your Demat Account
Do I require a Demat Account for SIP?
No, it is not mandatory to hold a Demat Account to invest in SIP Plans. However, if you wish to start Stock SIP, you will need to have a Demat Account.
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