How to Open a Demat Account: Eligibility, Steps, and Documents Required

18 May 2026|

6 min read |

by ICICI Securities Team

Almost anyone can open a demat account in India if they meet the KYC and documentation norms. The process is simple, but the rules may differ for adults, minors, NRIs, HUFs and non-individual entities.

A resident individual may complete the process fully online. However, a minor needs a guardian. Additionally, an NRI may need a different account type based on repatriation rules.

Companies, LLPs, trusts and societies need entity documents. Once you know the right category, the demat account opening procedure becomes easy to follow.

What is a Demat Account?

A demat account holds your securities in electronic form. These may include shares, ETFs, bonds, mutual fund units and other eligible instruments.

It works like a digital locker for investments. Your bank account holds money, your trading account places buy or sell orders, and your demat account stores the securities after settlement.

Why Does Knowing Your Eligibility Matter Before Opening a Demat Account?

Knowing your eligibility helps you apply under the correct investor category. It can also reduce delays during KYC, document checks and account approval.

Before you apply, you should know whether you are opening the account as a resident individual, minor, NRI, HUF or entity.

CDSL lists key KYC attributes, such as name, PAN, address, mobile number, email ID, and income range, for demat-related compliance.

Who can Open a Demat Account in India?

The rules vary by investor group, but the process is not difficult. You only need to submit the correct documents for your category.

Resident Individuals

Any Indian resident who meets KYC rules can open a demat account. PAN, address proof, bank details, mobile number and email ID are usually required.

Minors Through a Guardian

A demat account can be opened in a minor’s name and operated by a guardian until the minor becomes a major. SEBI states that a minor cannot be a joint holder in another demat account.

Joint Account Holders

Two or more adults can open a joint demat account. The first holder generally operates the account, while all holders complete KYC.

Non-Resident Indians

NRIs can open demat accounts in India. They may need NRE or NRO-linked accounts, depending on whether funds are repatriable or non-repatriable.

Hindu Undivided Families

An HUF can open a demat account through its Karta. The Karta’s KYC and HUF documents are usually required.

Non-Individual Entities

Partnership firms, LLPs, companies, registered societies and trusts can also open demat accounts. They need registration papers, authorised signatory details, PAN and board or partner resolutions where applicable.

Step-by-Step Process: How to Open a Demat Account in 2026

The steps to open a demat account are now mostly digital. CDSL also advises investors to first select a Depository Participant (DP) before opening an account.

Step 1: Choose a DP or Broker and Fill the Form

Select a SEBI-registered broker or DP. Compare charges, platform quality, service support and investment options. Then enter basic details such as your name, PAN, mobile number, email ID, date of birth and address.

Step 2: Complete KYC and Upload Documents

Submit your KYC details and upload clear copies of PAN, address proof, bank proof and other required documents. Make sure the details match your documents to avoid delays.

Step 3: Complete Video Verification

Most platforms now use video verification. You may need to show your PAN and confirm your identity on camera.

Step 4: Review and Sign the Application

Check all details carefully before signing. Many platforms allow Aadhaar-based OTP eSign to complete the process.

Step 5: Account Verification and Approval

The broker or DP verifies your application, documents and KYC details. Once approved, your demat account is activated, and you can start investing through the linked trading platform.

How Long Does it Take to Open a Demat Account?

If all documents are correct, online approval may happen quickly, sometimes on the same day. Delays usually occur due to mismatches in PAN, Aadhaar, bank details, or address proof.

Basic Eligibility Criteria to Open a Demat Account: The Prerequisites

The requirements to open a demat account are simple for most retail investors. The key is to keep the details accurate and up to date.

Age Requirements

Adults aged 18 or older can open and operate their own demat account. Minors can have an account through a guardian.

Mandatory Identity Credentials

Name, PAN, Aadhaar, mobile number and email ID are key details. PAN is especially important for KYC in the securities market.

Address Proof

Accepted address proofs may include Aadhaar, passport, voter ID, driving licence, bank statement, ration card or registered residence agreement.

Bank Account Details

Bank linkage enables funds, dividends, and other payments to flow smoothly. A cancelled cheque or bank statement is commonly used as proof.

In-person Verification or Video KYC

Video KYC makes onboarding faster. It confirms that the applicant is present and that the identity documents match.

Income Proof When Applicable

Income proof may be needed for certain products, such as derivatives or margin-related services. It may not be needed for basic equity investing.

Documents Required to Open a Demat Account

The documents required for opening a demat account depend on the applicant type and the product access. Keep scanned copies ready before you open a demat account online.

1. Proof of Identity

You may submit a PAN card, Aadhaar card, passport, voter ID, driving licence, ration card, UIN or a valid photo ID issued by the central government, state government, bank, public financial institution, university or professional body.

2. Proof of Address

Accepted proof may include Aadhaar card, passport, voter ID, ration card, driving licence, registered lease or sale agreement, flat maintenance bill, insurance copy, bank statement, self-declaration affidavit or address proof issued by government bodies, regulators, PSUs, colleges, universities or professional bodies.

3. Proof of Income

This may include a recent income tax return, a CA-issued net worth certificate, a salary slip from a registered employer or a bank statement showing salary credit.

4. Proof of Bank Account

A cancelled cheque with your name and IFSC code is commonly accepted. A bank statement may also be used.

5. PAN Card

PAN is a core document for securities market KYC and is generally mandatory.

6. Passport Size Photos

Some offline or assisted applications may require one to three passport-size photographs.

The Digital Eligibility Check: KYC 2.0

Digital KYC has made the demat account opening process faster and easier. It has reduced the need for physical paperwork for many investors.

The eKYC Process

Aadhaar-based authentication allows verification of details digitally. This makes the online journey quicker than the paper-based onboarding process.

In-Person Verification

Video IPV is now common on mobile and web. It confirms that the applicant is alive, present and applying personally.

Digital Signatures

Aadhaar-based OTP eSign can be used to digitally sign the application. This removes the need to print and courier forms in many cases.

Can You Open a Demat Account Without a Trading Account?

Yes, you can open only a demat account to hold securities. This may be useful if you receive shares through transfer, inheritance or dematerialisation.

However, if you want to buy and sell shares in the market, you usually need a trading account too. A demat account stores securities, while a trading account places orders.

Common Reasons a Demat Account Application May be Delayed or Rejected

Below are some of the common reasons for delay or rejection

Signature mismatch
Name mismatch between PAN, bank account and Aadhaar
Expired documents
Dormant bank account
Missing guardian documents for minors
Incomplete entity documents for companies, trusts, or LLPs
Incorrect mobile number
Unclear document uploads
Incomplete KYC details

Final Thoughts

It is easy to open a demat account in 2026 if you have your documents in order and your details are in sync with your PAN, Aadhaar and bank account. The process differs for adults, minors, NRIs, and entities, but the core requirements remain the same: KYC, documents, verification, and account details.

ICICI Direct is a good place to start for investors looking for a digital-first experience. Check your eligibility, prepare the required documents, and start the account-opening process.

Frequently Asked Questions

Can a student with no income open a Demat account?

Yes, a student can open a demat account if the KYC and document requirements are met.

Can I open a Demat account without a PAN card?

Generally, PAN is mandatory for opening a Demat account, except in limited cases such as minors, eligible ST residents, or exempt entities.

Is there an upper age limit for senior citizens?

No, there is generally no upper age limit if the applicant can complete KYC.

Can a person with a joint bank account open an individual Demat account?

Yes, subject to DP rules and proper verification of bank details.

Can I open a Demat account if my Aadhaar is not linked to my mobile?

If your Aadhaar is not linked to your mobile number, you may need to complete verification through another permitted method, as Aadhaar OTP-based eSign requires a linked mobile number.