Documents Required for Opening Demat Account

There are more than 20 stock brokers with which you can open a new demat and trading account.

In order to open a Demat account with any stock broker, you’ll need a few important documents.

The following are the mandatory documents required for opening a demat account.

1. PAN Card (Permanent Account Number):

PAN Card is a crucial document required for any financial transaction in India, including stock market trading. A valid PAN Card is mandatory to open a demat account.

2. Aadhaar Card:

Aadhaar card is needed for the purpose of identity and address verification. It’s a proof of your residency in India.

3. Address/ Identity Proof:

Documents like voter ID, passport, driving license, or utility bills (electricity, water, gas) can be used as proof of your address for opening demat account.

Make sure the address on the POA matches with the address provided at the time of application.

4. Bank Documents:

A cancelled cheque or a bank statement showing your bank account details and IFSC code is required for linking your bank account with the demat account.

5. Income Proof:

Income proof is required for trading in deratives (futures & options). You might need to provide salary slips, IT returns, or bank statements as a proof of income.

6. Nomination Form (Optional):

If you wish to nominate someone to handle your investments in case of your absence, you can fill out a nomination form.

Make sure all the documents are self-attested and up to date. Once you have these documents ready, you can visit any of the stockbroker’s website like Zerodha, Upstox, 5 Paisa, Angel Broking, etc., to open the account.