Open Demat Account Online
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How to Open a Demat Account Online?
Download the Upstox app or visit the Upstox website
Enter your Mobile Number and verify with an OTP
Verify KYC and bank details
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Know more about a Demat Account
Everything you need to know about opening a Demat Account
What is a Demat account?
A Demat (short for Dematerialized) is an electronic account used to hold and manage investments like Stocks, Bonds, Mutual Funds in a digital format. Just as you need to have a bank account to deposit your money and earn interest, you need to open a Demat account to buy or sell financial securities such as Stocks, Mutual Funds, Equity Traded Funds (ETFs), SGBs and more. When you buy stocks or shares, they will get credited to your account. When you sell the stocks or shares you have purchased, they will get debited from your account.
By opening a Demat account, you do not need to transfer your share certificates physically to the buyer. You need to link your bank account with your Demat account, through which you can easily buy and sell shares. It does not only save your time, but it also reduces the transaction cost.
Documents Required to Open a Demat Account
Opening a Demat Account requires just 2 documents: PAN + Aadhaar.
- Already have a Demat account with another broker? No need to reupload these documents — they will be fetched automatically from the central KYC agency.
- Don't have a Demat account with another broker? These documents will be fetched from DigiLocker. For this, your Aadhaar needs to be linked with your mobile number.
- Want your Demat account for Futures, Options, Currencies and Commodities? Keep these handy: Salary Slips, Bank Statement or ITR.
Benefits of a Demat Account
There are many benefits of opening a Demat Account on Upstox. Let's look at a few of them:
A demat account holds securities electronically and eliminates the risks associated with physical certificates and paperwork management.
Demat and trading accounts help to buy and sell securities through stock exchanges without the limitations of physical share transfers.
It monitors holdings, tracks valuations, and reviews investment performance anytime through your demat account online.
In a demat account, electronic settlements are made where securities are automatically credited or debited after successful transactions.
It maintains accurate holding records and tracks investment periods efficiently for tax planning and long-term investing.
Charges to Open a Demat Account
Demat account opening charge with Upstox is ₹0.
- Non-BSDA users: AMC is ₹300 + 18% GST.
- BSDA users with holdings up to ₹4 lakh: AMC is zero.
- BSDA users with holdings between ₹4 lakh and ₹10 lakh: AMC is ₹100 + 18% GST.
- BSDA users with holdings above ₹10 lakh: AMC is ₹300 + 18% GST.
Note: The full form of BSDA is Basic Services Demat Account.
- Pledging and unpledging charges: ₹20 + 18% GST per scrip.
- Invocation charges: ₹50 + 18% GST.
- Physical CMR charges: ₹10 per page.
- Off-market transfer charge is ₹100 or 1.5% of the transaction value, whichever is lower.
- SIP order charge is ₹10 or 1.5% of the transaction value, whichever is lower.
- Dematerialisation charges: ₹100 per certificate + ₹50 courier charges.
- Rematerialisation charges: ₹100 per certificate + ₹50 courier charges.
Demat Account vs Trading Account
Here is the difference between a demat account and a trading account:
| Basis | Demat Account | Trading Account |
|---|---|---|
| Purpose | Stores securities electronically | Facilitates the buying and selling of securities |
| Function | Acts as a digital repository for investments | Connects investors with stock exchanges |
| Requirement | Needed to hold shares after purchase | Needed to execute market transactions |
| Asset Storage | Maintains ownership records of securities | Does not store securities |
| Usage | Used for holding investments safely | Used for placing buy and sell orders |
Safeguarding Your Demat Account
Your Demat Account holds all your investments and wealth, so safeguarding it is pretty important. Here are a few pointers to ensure your Demat Account is secure and safe:
- Add a Nominee to your Demat Account: A nominee is the person you legally appoint to own your shares in your absence.
- Keep your account details confidential: Never share your Upstox Demat and Trading account passwords/PINs with anyone.
- Update your Upstox App: Regularly update your Upstox app for the latest security patches and bug fixes.
- Beware of phishing attempts: Upstox will never ask for passwords or sensitive details via email or messages. Don't click on suspicious links or download attachments from unknown sources.
- Secure your devices: Protect your mobiles and computers with a strong passcode or biometric authentication for added protection.
- Beware of public Wi-Fi: Avoid using open public Wi-Fi networks when accessing your Upstox app.
- Monitor your account activity: If you observe any suspicious activity, report it to Upstox immediately.
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FAQs on Demat Account
What is demat account? What is the use of it?
A Demat account is an electronic account used to hold and manage your investments in a digital format. It's essential for buying, selling, and holding various financial securities like Stocks, Bonds, Mutual Funds, and more.
The full form of Demat Account is 'Dematerialised Account'. It's like a digital wallet for your stocks and investments.
Why should I have a Demat account?
Can I have two Demat accounts?
Can an NRI open a demat account?
How to transfer shares from one Demat account to another online?
You can transfer shares from one Demat account to another via an offline or online process.
Offline via a Delivery Instruction Slip (DIS) included in the Demat account's welcome kit
- Fill in the DIS with details like BO ID, ISIN, DP Name, and Depository
- Choose 'Off Market' if transferring within the same Depository
- Submit the filled DIS to the current broker
- The broker verifies and sends it to the Depository
- Depository transfers shares to the new broker
- Some fees may apply, but closing a Demat account is free with an unused DIS
What are the types of Demat accounts?
There are mainly three types of Demat accounts:
- Regular Demat account: This is the standard type of Demat account suitable for individual investors. It holds various financial instruments like Stocks, Bonds, And Mutual Funds.
- Repatriable Demat account: This account is for Non-Residential Indians (NRIs) who want to invest in the Indian stock market using foreign funds. Investments and earnings in this account can be repatriated (transferred) back to the NRI's foreign bank account.
- Non-Repatriable Demat account: Similar to the Repatriable account, this is also for NRIs. However, investments and earnings in this account cannot be repatriated. They must remain in India.
How to add a nominee to a demat account on Upstox?
What is Dematerialisation?
Dematerialisation, often abbreviated as 'Demat', is the process of converting physical share certificates and securities into electronic or digital form. In this process:
- Physical share certificates are surrendered to a depository participant (DP), typically a bank or financial institution
- The DP verifies the certificates and updates the investor's Demat account electronically
- The investor is then provided with a statement of holdings, much like a bank statement. This reflects their digital holdings in electronic form
Dematerialisation eliminates the need for physical share certificates and offers several advantages, including:
- Easy and secure access to holdings
- Reduced risk of loss or damage
- Streamlined trading and investment processes
It is a fundamental aspect of modern stock market and investment practices.
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Brokerage will not exceed the SEBI-prescribed limit. The securities mentioned are quoted as examples and are not recommendations.
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