If you wish to trade in the stock markets, you will need to open a demat account. A demat account is a digital platform through which you buy and sell stocks. It is very easy to open such an account. You can complete the entire process online. All you need to have in hand are the correct documents required for demat account
There are different kinds of demat accounts. Which type should you open? This would depend on your exact need. You can choose from the following options:
This account is opened and run by a single account holder. You cannot have more than one account holder for this type of demat account.
Up to three people can open a joint demat account. One of them will be named the main holder. The other two will be joint holders.
A company or a corporate house, as a whole, can open a demat account in its name.
Are you a non-resident Indian (NRI)? You can still trade in certain segments of the Indian stock markets. You will need an NRI demat account for this purpose.
There are different documents required to open demat account. You will need to submit certain papers based on the type of account you want to open. An identity (ID) proof and an address proof are compulsory for all account types.
You will need an ID proof to open any type of demat account. You can use any of the following documents for this purpose:
Next, you will need a valid proof of address. For this, you can submit any of the following documents:
Note:The address proof documents needed to open a demat account may be in the name of your spouse. They will still be honoured.
Apart from your ID and address, you also need to prove your financial status. You will have to submit the following documents:
You can get the documents needed to open a demat account attested by a:
For NRI demat accounts you can get the documents attested by a:
It is very easy and helpful to open a Kotak Securities demat account. You just need to submit four basic documents:
Note: Other documents valid here include Voter ID and driving licence.
Opening a Kotak demat account is a simple process. First, you need to complete the application form. Then, you will be assigned a relationship manager. The manager will guide you about the procedure. He or she will also meet you in person and collect the necessary documents. This makes the process even more convenient.
The first step is to decide the type of demat account you want to open. Keep the related documents ready with you. Get the attestation done beforehand to enjoy a hassle-free process. Speak to your relationship manager. If you have any doubts, get them cleared. Now you can start trading in the correct manner and watch your wealth grow.
0 people liked this article.