A Demat account is similar to any other bank account, except that it is used to hold securities and other financial instruments. The procedure to open a Demat account online is almost the same across different firms and institutions. However, as Angel One strives to make it simple for their customers, the documents required to open a Demat Account are limited.
List of Accepted KYC Documents
In order to open a demat account, you will require certain documents. You will need one proof of identity, one proof of address, one proof of bank account and proof of income. Here is a list of accepted documents required for a Demat Account:
1. Proof of Identity
- PAN Card (mandatory requirement)
- You may also be required to present a Bank Verification letter with a photograph.
- A photo ID card issued by a central or state government body, such as Passport, Driver’s licence, Aadhaar ID and Voter’s ID.
2. Proof of Address
- Proof of possession of Aadhaar
- Driving Licence
- Passport
- Voter ID
- NREGA Job Card – only for offline account opening and not online.
- National Population Register (NPR) letter – only for offline account opening and not online.
Note: You must submit updated and valid documents with your current address within a period of three months of submitting the above documents.
3. Proof of Bank Account
- Latest bank account statement where your account name and account number are evident.
- Personalised cancelled cheque leaf with signature.
However, for online account opening, Angel One validates bank details through IMPS validation or reverse penny drop verification. Cheque leaf upload is a fallback option.
4. Proof of Income
This is only for trading in derivatives such as Futures and Options (F&O):
- A photocopy of the Income Tax Return (ITR) acknowledgement slip submitted to the Income Tax Department during tax filing.
- Last six months’ bank statement.
- Latest salary slip.
Conclusion
Apart from these documents required to open a Demat Account, the Depository Participant or your broker might ask you to present additional proof of identity, address, and income. Once all the documents are submitted, verified, and checked by the concerned departments, your account will be opened. Make sure you submit valid documents to make the account opening progress faster and hassle-free.
After the Demat account is opened, you can explore various stocks or mutual funds and start your investment journey smoothly.
