Here is a Step-by-step Guide to Open Demat Account

A Demat account, also known as Dematerialised account, allows people to invest in stocks and shares and hold them in an electronic format. It works much like a bank account. The only difference is that a bank account holds money, while the Demat account holds shares and other securities.

Opening a Demat account is quite simple. An investor just needs to register himself/ herself with his/her preferred broker, either online or offline or both.

One needs to fill up an application form to open a Demat account and submit it along with the relevant documents. Once the form and details furnished by the investor are scrutinised, the person receives a unique client ID and account number with which he/ she can start investment online.

Investment platform — Groww allows willing investors to open a Demat account online. Below is the step-by-step guide to open a Demat account with Groww:

Step 1: On your smartphone, download Groww app or visit to Groww website – groww.in.

Step 2: Tap on the ‘Open Stocks Account’. Note that there are no charges required to open a Demat account on Groww. https://groww.in/

Step 3: Provide the relevant details including occupation, income, and complete the KYC process

Step 4: Verify the details provided before clicking on the Next button to proceed

Step 5: From the drop-down list, enter the trading experience and tap on the Next tab

Step 6: Complete the online application form for a DEMAT account. Make sure that the mobile number you mention in the form is the same as that on your Aadhaar card

Step 7: Upload all the documents in the required format. Also, provide scanned signature along with the form

Step 8: Once done, you will get an OTP/ security code on the Aadhaar-linked mobile number

Step 9: Carefully read the Demat account opening form and agree to the terms and conditions of the facilitator

Step 10: Finally you will see a screen stating, “Signed successfully”. You will then see a screen that will mention that you can start investing

Step 11: Tap on Let’s Start button to proceed

The verification will be done within 24 hours after which, you can start investing in stock and securities on Groww.

Documents required to open a Demat account:

To open a Demat account, an investor needs Aadhaar card, PAN card, Voter ID card, Lease Agreement, Utility bills, income proof (salary slip or ITR paper), bank account statements of the past 6 months, cancelled cheque.

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