Steps to Open an Online Demat Account

If you want to profit by investing in equity, you will need to open a Demat account. Typically, through a Demat account, an investor can buy securities in electronic form rather than physical. This has made the entire process of investing, trading, holding and monitoring of shares and securities not only convenient but also quick.

If you want to enter the stock market for trading, you wouldn’t be able to do this without a Demat account. This account works just like a bank account. When you buy shares, your money is deducted and when you earn, it is put here. Stock market buying and selling are facilitated by having a Demat account. If you are interested in having a Demat account, it is important that you learn how to open Demat account online.

How to Open a Demat Account Online

Here are the steps to open a Demat account online:

Select a Depository Participant (DP). In India, the top depository participants are State Bank of India, HDFC Bank Limited andICICI Bank Limited, among others. 
Complete the online account opening form and attach the required documents. Have your original documents ready for verification.
After your form is processed, you will receive a client ID from your chosen DP. You will need these details to access your new account. 
Once you have a Demat account, you will have to pay maintenance fees for a year to maintain your account. Trade transactions also attract separate transaction fees. If you hold shares in physical form, your DP may charge you a fee to demat your shares.

You can follow the same steps to open an Upstoxdemat account.
Documents Needed to Open a Demat Account
To open an online Demat account, you will need a copy of your Aadhaar card, PAN, canceled cheque and a passport size photograph.

Conclusion
To have a Demat account is the need of the hour if you are interested in investing in shares and mutual funds. Once you start trading actively, you will realize the many benefits of having an online Demat account.