How to Open a Demat and Trading Account?
Opening the Demat account and trading account are not complicated when we are aware of the processes to open the accounts. The following steps are to be followed to open the Demat and Trading account to manage your shares properties, etc.
Get all the necessary documents ready
To open the Demat and Trading accounts, we need many documents to show and get the approval from the financial authorities of the country, in which the citizen lives in.
- PAN card, which is mandatory, for all kinds of financial transactions, done by you as an individual.
- Address Proof, explicitly specifying where you stay with exact address like your driving license should do
- Bank account statement, with the last six months of transactions
Once you are ready with the necessary documents, decide which account you want. Be clear about what you are looking for. Specify which account you are applying for, only Demat account or Trading Account or even both of them.
Do a little investigation for the reliable broker and get fixed with one broker. It is always better to go for the agent as your savings account holding bank. When we open and operate the savings account and Demat and other accounts, the transactions become easier and faster rather than going for another broker, or another banker to hold your Demat account. You can go for any of the reputed banks, like HDFC, ICICI, etc.
Call Customer Care
After you have finalized about which bank you want to go with to open your Demat account or Trading account, explore the customer care number. It is very easy to search for the customer care number, just type the bank name and customer care number in the Google text search box and hit the enter key. You will get the client call number of the same bank. Give a call to the customer care number and get to know the entire process of opening the account. The process to start a new Demat account is different for different companies. Many of the banks offer the services right at your doorstep. An executive from your bank will come to your place, collect all the necessary documents and take your signatures, wherever needed.
Collect your login credentials
The executive from your bank visits your house and demonstrates how to operate your account, including how to give the log-in and password details, etc. The executive also helps you to make you familiar with the processes of how to buy the shares and also how to sell the shares.
After the demonstration and activation of the account, you will be able to handle your shares independently, by yourself in demo sessions. Once you apply for the Demat account, it takes more than two weeks of time to complete the entire process and get your account active. If you open only Trading account, it takes only a few days to open.