A demat and trading account is one of the most important prerequisites to start your investment journey. However, being a new entrant into the stock market, you may not be aware of how to open a demat account. If that’s the case, then this article might help you find out the best way to open a demat account for beginners such as yourself.
That said, before we get into the specifics, you need to first know that there is more than one way through which you can open a demat account. Let’s first take a look at it.
- What are the ways through which you can open a demat and trading account?
Primarily, there are two different ways - through the offline mode and through the online mode. The offline mode involves you physically visiting the nearest branch of your depository participant, manually filling up the application form, enclosing all of the supporting documents, and finally signing and submitting them to the branch official.
The online mode, on the other hand, is far easier and can be done through the use of a computer and the internet. All that you would need to do is visit your depository participant’s website and follow the instructions to open a demat account online. The entire process can be completed from the comfort of your own home and within just a few minutes.
- So, then which is the best way?
It is quite obvious isn’t it? Opening a demat account for beginners online is the best and the easiest way. As you’ve already seen above, one of the most important advantages that the online mode offers is convenience. Since you don’t have to physically appear at the nearest branch of your DP, you get to save time, money, and energy.
That’s not all. The entire online process is completely paperless with no physical form filling or physical document submission involved. And, you also get to track the application progress from start to finish. On top of it all, the online mode of opening a demat and trading account is much faster and gives you access to the stock market much sooner, which is not the case with the offline mode.
- How do you open a demat account online?
The online demat and trading account opening process is simple. At Motilal Oswal, we’ve simplified it even further. Here’s a brief look at the process flow for opening the best demat account for beginners.
- Visit the Motilal Oswal website and click on ‘open demat account’.
- Enter your mobile number and proceed.
- You will be asked to specify certain basic personal details, which includes PAN and unique Aadhaar ID.
- You will have to then authenticate your identity through Aadhaar validation.
- Next, you will be required to fill up the online application form.
- Once that’s done, you will be asked to upload documents required for the demat account opening process.
- Upon uploading the documents, you will then have to e-sign the application, which will be done through Aadhaar OTP.
- After e-signing, you will have to initiate in-person verification through your computer’s web camera.
- Upon successful verification, your demat and trading account will get activated and be ready for use.
Conclusion
At Motilal Oswal, we offer the best demat and trading account for beginners. Visit our website right now and get yourself your very own demat and trading account for free.
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