How to Open a Demat Account?

How to Open a Demat Account? Select DP Fill up account opening form Submit Documents In-person Verifica on Account Number/ ID Provided 12th Commerce Unit - - . . PM i. Fill up an account opening form and submit along with copies of the required documents and a passport-sized photograph. You also need to have a PAN card. Also carry the original documents for verification. ii. You will be provided with a copy of the rules and regulations, the terms of the agreement and the charges that you will incur. iii. During the process, an In-Person Verification would be carried out. A member of the DP’s staff would contact you to check the details provided in the account opening form. iv. Once the application is processed, the DP will provide you with an account number or client ID. You can use the details to access your demat account online. v. As a demat account holder, you would need to pay some fees like the annual maintenance fee levied for maintenance of account and the transaction fee levied for debiting securities to and from the account on a monthly basis. These fees differ from every service provider (called a Depository Participant or DP). While some DPs charge a flat fee per transaction, others peg the fee to the transaction value, and are subject to a minimum amount. The fee also differs based on the kind of transaction (buying or selling). In addition to the other fees, the DP also charges a fee for converting the shares from the physical to the electronic form or vice-versa. vi. Minimum shares: A demat account can be opened with no balance of shares. It also does not require that a minimum balance be maintained.