Demat Account Opening Online — Complete Step-by-Step Guide

Step-by-Step Guide to Open a Demat Account Online with ICICI Direct

Step 1: Complete the verification procedure

Enter your personal details on ICICI Direct’s demat account opening form and verify it by submitting the OTP.

Step 2: Fulfill the KYC (Know Your Customer) Requirements

Enter the required KYC details, such as date of birth, email address, PAN card number, and bank account details and share all the requested documents.

Step 3: Sign your documents digitally

Digitally sign your documents to complete the process

Additional Read: Demat Account Charges

Essential Documents Required to Open a Demat Account

Investors need to go through various steps before they can start making investments. The first step is learning how to open a demat account online. It is mandatory to submit certain essential documents to open and use your demat account. At ICICIdirect, we make the process simple and easy and demand the investor to submit the following documents:

• Proof of Identity - PAN card/driver’s license/Aadhaar card/voter ID

• Proof of Address - any document, such as passport, electricity bill, registered lease agreement to verify your present address

• Income Proof - bank passbook or bank statement, not more than three months old

• Passport-sized photograph

Conclusion

Financial markets have proved to be a source of prosperity for many. Opening a demat account can be your first step. However, remember, a demat account has yearly charges irrespective of your activity level. So, open an account only if you wish to use it actively.

FAQs on Opening a Demat Account

1. What are the charges for opening a demat account?

ICICI Bank allows you to open a demat account for free. ICICIdirect customers can get the annual maintenance charges of Rs. 700 waived off for the first year of opening the account.

2. Why should I open a Demat account with ICICIdirect?

ICICIdirect has no hidden charges. You pay what you see. Moreover, you can track and monitor your portfolio from anywhere and at any time. With prepaid brokerage plans, the brokerage for a wide range of delivery plans is as low as Rs. 0.07.

3. How many days does it take to open a demat account?

It takes around 2 to 5 working days to open a demat account with ICICIdirect. However, this timeline is true if you know how to open a demat account online with ICICI and submit the right documents.

4. What is the minimum balance for a demat account?

The objective of a demat account is to store shares and securities electronically. There is no money involved. Therefore, you do not need to maintain a minimum balance.

5. Which document do I need to submit to open a demat account?

To open a demat account with ICICIdirect, you need to submit your PAN Card, proof of address, proof of identity, proof of income, and a passport-sized photograph.

Additional Reads:

How to Choose the Best Broker?

How to Invest Without a Demat Account?

How to Buy & Sell Shares in Demat Account?

How to Apply for PAN card and What are its Importance