If you are still in confusion to open Demat Account or waiting for the right answer for your query, “How to Open Demat Account”, you have come at the right place – Smart Money Grow – your trusted partner to help you at every step in Trading account opening process – made easier and a matter of just few clicks.
In order to ease the entire process of Demat account opening, we have come up with a step-by-step guide that will surely be an ideal way to enhance your experience. The process starts with consulting our experts, who are available online to assist you at every step.
The first and vital step to open demat Account online is to choose the right depository participant or DP. You will find a number of top banks, stockholders and online investment platforms – offering you DP services with complete guide and assistance. You have to choose the right one according to the services you need.
The next step is to go through the DP’s website and fill out online Demat Account opening form – mainly to open a Demat Account. Smart Money Grow offers the ability to open both demat account and open trading account.
As soon as you fill out Demat Account opening form, the next step will be KYC norms or Know Your Customer Norms – that require to submit scanned copies of KYC documents like ID Proof, address proof, bank account statement, income proof, etc. It will be better to have all the relevant documents by your side before applying as this step can hep you get through the process faster and in secure way.
As soon as KYC is done, you will be asked to by your DP – mainly to go through the IPV or In Person Verification. It is mandatory – carried out with the intention of verifying the authentication of your document. It may be in person. You will also get online IPV services through the use of a webcam or you can use your smartphone to get it done.
As soon as IPV is completed, you will get an agreement copy with your DP to sign – that contains all duties and rights of depository participant and the investor.
The next step after the aforementioned steps is to get your BO ID that will start after DP will process to process your Demat account opening form. As soon as the application is approved, you will get this number to access your demat account.
Documentation is minimal for Demat account opening. You need to submit the following documents that include:
ID Proof – PAN Card Copy with Your Photo is required
Address Proof – Address Proof is equally important that can be any one from Voter ID card to Driver’s License, Registered Lease Agreement, Passport, Aadhar Card, Gas Bill, Electricity Bill, Apartment Maintenance Bill to Landlife Telephone Bill and from Copy of Your Insurance to Ration Card.
Bank Account Proof – Bank account passbook or bank statement that should not be older than 3 months is required.
Income Proof – You need to submit salary slip or your ITR that is mandatory for currency and derivative segment.
Smart Money Grow eases the entire process of Demat account opening or solve your query, “How to Open Trading Account”. You have to make a contact as per your requirement, go through the details and make a contact.