How to open a Demat account : Opening any bank account might be a challenging task but if you follow the right path, you can open the account easily in much less time. A financial planner or experts are available who would help you on the right path. Such is the case of opening a demat account that makes handling of securities much easier. You can also access the details of the transaction from the comfort of your home or desk. Much like your bank account, the demat account would help to hold securities and shares.
How can you open a demat account?
1. Contact a depository – For opening a demat account; you have to get in touch with a depository participant who can be either a broker or any bank. When you open the account, the shares would be kept with the depository safely. These institutions are government sponsored ones that are safe enough to deal with.
2. Submit documents – Following this, you have to submit KYC documents that would be required in filling up the form of the demat account. After filling in all the details of the form, the depository would ask for photographs and photocopy of some important documents including PAN Card, address proof, bank details, and others.
3. Rules and regulations – The KYC form should be signed by the depository, and the details of the rules and regulations would be stated in the form.
4. Keep a backup of documents – You should get a printed form or photocopy of the same that would be required for any future use.
5. Document verification – After this, the depository would ask for in-person verification of the form. In this case, you have to visit the office, or a concerned representative would visit your place. The verification can also be done by online mode with the help of a webcam.
6. Beneficiary ID – Once the documents are submitted, and it has been verified by higher authorities, beneficiary ID would be given by the depositary. This ID would become the unique code of the shareholder that would be used for any kind of buying or selling in the stock exchange market.
7. Produce documents – You should also be careful about the fact that all the necessary documents are attested, and the original ones need to be produced in case it is requested by the authority for final verification before you can start with the transaction via the demat account.
Therefore, you can opt for the services of Angel Broking Demat accountwhere experts of the firm would take you through easy form filling process. Some of the documents that are required by Angel Broking for opening a demat account are enlisted in the following part of the article. This is one of the best solution providers pertaining to any financial investments.
Documents requirement by Angel Broking
The documents required for opening Angel Broking Demat accountare almost the same from whichever firm you wish to seek service from. The one required by Angel Broking is detailed further.
Proof of identity
- PAN card with recent photograph and it is one of the valid requirements. Exceptions would be applicable for those who are already exempted from getting PAN card.
- Unique Identification Number, passport, Voter ID card, or license should be submitted.
- The identity card should be issued by the state or central government or other similar institutions.
Proof of address
- While opting for Angel Broking Demat account service, you have to submit Identity Card or Ration Card or Registered Lease. In addition, you can also submit Flat Maintenance bill or Insurance Copy of the house that would be required for the address proof. ‘
- Utility bills include Telephone Bill, gas bill or electricity bill which is not more than three months old.
- Bank statement should also be introduced.
Some exemptions or clarifications in relation to PAN card
- It is applicable for the investors in Sikkim.
- This exemption is applicable for any transaction that has taken place on behalf of the government or any other officials.
- SIP of mutual fund up to an amount of Rs. 50,000 per annum.
Wrapping it up
Therefore, open Angel Broking Demat account that would make the procedure much easier and you would be able to get in touch with the expert at the firm in case you face any problem pertaining to the account.