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Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2012 FROM WHERE WE CAN OPEN AN DEEMAT ACCOUNT?

CA Rakesh Goenka

CA Rakesh Goenka (Expert)
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25 April 2012 Hi
For opening a demat account, no capital is required, as many of the Depository Participants(DP's) do it for a nominal charge(even some of them do it free).
Only things you would be requiring are:
1. Proof of Identity
2. Proof of address
3. PAN.

(PAn would work as a proof of id normally). You can approach any of the DP's listed in NSDL or CDSL websites with the above mentioned documents and the first year charge(varies from 100-600 among DPs).

Within 15 days of submitting the form you will be allotted a Unique DP Id-Client Id number which is your account number. You can start applying for shares or transfer in your shares from other DP's or purchase shares from a broker or even apply for mutual funds, bonds etc.

It works almost the same way as a bank account works for cash. Only difference is that here it is securities, where as in a bank account it is the cash.

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2012 thanks a lot sir.

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