Investing in the stock market can help you generate exponential returns in a relatively shorter period. In the contemporary era, investing in the stock market has become more accessible. You only need an online demat account and a mobile phone to invest in your favourite stocks.
With an online demat account, investors can trade and hold their securities in a digital format, making it easier to manage their investments. However, it can be tricky to choose the right account service provider.
Here’s a step-by-step guide and document checklist to help you open an online demat account.
How to Open an Online Demat Account?
The first step towards opening an online demat account starts with choosing the right account provider. It is advised to only opt for SEBI-registered account providers like Religare Broking Limited.
If you have decided to open an online demat trading account, here are the steps you must follow.
- Visit Religare Broking Limited Website
The first step in the demat account opening process requires visiting the Religare Broking Limited website and clicking on the “Open an Account” button on the homepage.
- Fill out the Account Opening Form
Once you have completed the first step, it’s time to enter details like your name, email address, city name, and mobile number. There are two plans to choose from: Religare One and Religare Elite. After providing the basic details, you will receive an OTP to initiate the application process. Now, fill out the account opening form with your personal information, bank account details, and trading preferences.
- Submit Required Documents
The next step is to submit all the required documents listed on the website. You must scan and keep the documents in a digital format if you are applying online. After your documents are verified, your account will be activated.
- Link Your Bank Account
You need to link your bank account with your demat account to start trading. You can do this by providing your bank details while filling out the account opening form or by linking your bank account through Religare Broking Limited’s website or mobile app.
- Start Trading
Once your demat account is activated and your bank account is linked, you can start trading. Log in to your demat account using your login credentials and start buying or selling securities.
To open an online demat trading account, you will need to submit the following documents:
- Identity Proof: A copy of your PAN card, Aadhar card, passport, or driver’s license as proof of identity.
- Address Proof: A copy of your Aadhar card, passport, driving license, voter ID card, or utility bills as proof of address.
- Bank Details: A cancelled cheque or bank statement as proof of your bank details.
- Passport Size Photograph: A passport-size photograph.
- Power of Attorney (POA): If you plan to trade in equities, you must sign a document allowing your broker to debit your shares from your demat account when you sell them.
- Income Proof: In some cases, you may need to submit income proof, such as a salary slip or ITR statement, to open an online demat account.
Why Choose Religare Broking Limited?
Religare Broking Limited, a subsidiary of Religare Enterprises Limited, is a SEBI-registered firm and has been in the stock market for over 2025 years. It offers an easy-to-use online platform to invest/trade in stocks and other securities. With its research and analysis tools, you can make an informed trading decision without spending much time and resources. Also, it offers unmatched customer service that assists users through various channels.
Opening an online demat account is a simple and hassle-free process. By following the steps mentioned in this article and providing the required documents, you can open a demat account quickly and start trading in the stock market. Remember to read the terms and conditions carefully, and keep your login credentials safe to ensure the security of your investments.
So, open your demat account today and start investing!