how to open demat account in hdfc bank?

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How to open a Demat Account:

  • Decide on a Depository Participant (DP), which is an authorized bank, financial institution or broker, with who you want to open a Demat Account. The choice of a DP should ideally depend on the brokerage charges, annual charges &leverage provided.
  • Submit a duly filled account opening form and KYC form. Along with this, you will need to attach copies of –
  • PAN Card
  • Residence Proof
  • ID Proof
  • Passport-sized photographs

Do carry original copies of all for verification purposes. You will also need to give a canceled cheque for dividend bank details.

  • You will then need to sign an agreement that will mention all the rules, regulations, and rights associated with holding a Demat Account. Read them carefully and do not hesitate to clear all your doubts. When this is submitted to the DP, it will be signed by an authorized person and a copy of the same will be given to you.
  • When the account is opened, you will receive a unique Client ID from the DP. This, along with other details, will help you get access to your Demat Account online.
  • You will also be given instruction slips by the DP, which will be of use for depository services like transfer, purchase, etc.

Note that a Demat Account does not require any ‘minimum balance’ of shares or financial securities to be held in it. Also, you can hold more than one Demat Account linked to a single PAN. However, not with the same DP.

How to open a Demat Account online:

A request to open a Demat Account with any DP can be applied online as well.

  • Visit your chosen DP’s website
  • Click on the ‘open Demat Account’ tab and submit the following details
  • Name
  • Email ID
  • Mobile Number
  • One-time password (OTP) that you will receive
  • City
  • You will receive communication from the DP to get in touch with you for completing the above-mentioned formalities and opening a Demat Account

Demat account details

Your Demat service provider needs to give you the following details:

  • DP ID
  • Beneficiary ID or Demat Account number
  • Power of Attorney (POA) number

These are especially helpful if you want to apply for an initial public offer (IPO).

Looking to open a Demat Account? Click to get started!

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