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Open Free Demat Account Online with ICICIDIRECT

List of Required Documents to Open a Demat Account

Do you keep receiving pop-ups about Demat Accounts? Do your friends and colleagues discuss the advantages of having a Demat Account? If you are interested in share trading, you should probably consider opening a Demat and a Trading account.

How to open a Demat Account?

Demat accounts are provided by banks and stock brokers, known as Depository Participants or DPs. All DPs offer various types of Demat Accounts, with more or less similar account opening procedures.

A Demat Account can be opened both offline and online. However, since the Demat Account only holds your securities, you also need to open a Trading Account so that you can purchase and sell various market instruments. Several DPs also offer free Demat Account opening services.

Documents required for demat account opening

Opening a Demat Account is very convenient now. If you opt for the online Demat Account opening procedure, you can either use the Digilocker facility offered by the Government of India to fetch your documents or use your Aadhar number to complete the e-KYC process. You should keep your signature image handy to complete the process. Your bank account details can be verified by the penny drop facility by depositing Rs. 1 in your bank account. Otherwise, you can upload a copy of your cancelled cheque, bank statement or a copy of your bank passbook to verify your bank account details.

Additional Read: Demat account for beginners

If you choose the offline method, you need to submit photocopies of necessary papers at your DP’s branch. The document includes a copy of your PAN card, Address proof, proof of bank account and photographs. Remember to check the Official Valid Documents or OVD list provided by your DP and submit your documents accordingly. 

Time Taken To Open A Demat Account

The time required to open a Demat Account varies from one broker to another. However, in any case, with all the required documents in hand, the online process with ICICIdirect should not take more than 10 minutes.


The documents required to open a Demat Account have to be in accordance with the OVD list. This is same for all DPs across the country. You can check the DP’s website to confirm the list of documents you need to submit to open your Demat Account.


   1.  Is PAN card mandatory for opening Demat Account?

Yes, it is mandatory that you have your PAN card for opening a Demat Account. The SEBI necessitates that every Demat Account is linked with a PAN. You cannot open a Demat Account without having your PAN details.

   2.  How much money is required to open a Demat Account?

You may have to pay account opening charges to open a Demat Account. This can range from Rs 0 to Rs 500, depending on which DP you choose. There are many DPs that provide free Demat Accounts with zero opening charges. In such cases, you may not need any money to open your Demat Account.

   3. How can I open a Demat Account without proof of income?

It is possible to open a Demat Account in India without having proof of income. You can submit all other documents as per the OVD list to trade in equities. However, if you want to trade in derivatives or the currency market, you need to provide proof of income.

   4.  Can I open Demat Account without bank statement?

Yes, it is possible to open a Demat Account without providing your bank statements. You need to provide other valid bank proof such as a copy of a cancelled cheque or photocopy of your passbook.

Disclaimer: The contents herein mentioned are solely for informational purposes and shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon

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