Investing in stocks is a great way to build wealth over time. In this article, we’ll walk you through the steps on how to open a demat account online.

To invest in stocks you’ll first need a demat account. A demat account is a digital account that electronically holds your shares and securities.

Creating a demat account is the first step towards investing in stocks. If you’re from India, there are a lot of online discount brokers like Zerodha, Groww, Upstox, etc. Here is a step-by-step tutorial on how to create a demat account:

Required Documents

To open a demat account, you must submit certain documents to the DP. For our guide, the account opening is a completely online and paperless process.

The documents you’ll need include:

• A scanned copy of the PAN card
• A scanned copy of an Aadhaar card or any other ID proof
• A Cancelled Cheque/Bank statement to link your bank account
• A scanned copy of your signature

Besides documents, you’ll need Mobile number verification while creating the account. Upon creation in order to add funds to the account, you’ll need to link your Bank account.

Charges

Groww Demat account opening processes are completely free as of now, and there are no account maintenance charges on Groww as well.

Account Opening Process:

Groww account opening is an instant process and takes no more than 24 hours to get access to your demat account. Click on the link to download the Groww app from the Google play store.

Install and open the app.

• Step 1: Verify your Mobile no. with OTP
• Step 2: Verify your PAN no. Make sure to put your own PAN Card no. and click Verify to proceed. Confirm your identity by clicking the confirm button.
• Step 3: Now enter your Date of Birth, Gender, and marital status.
• Step 4: You’ll be asked to enter your Occupation type, annual income, and parent’s name. These will help Groww identify authenticity.
• Step 5: Now enter your bank IFSC Code and wait for some time. Confirm and click on Confirm bank to proceed.
• Step 6: Enter the Bank account number. ( Note: knowing your bank account number, no one can withdraw money from your account )
• Step 7: Now you’ll be asked to click a picture and record a 3-second video of yourself to do the IPV process.
• Step 8: You need to upload an image of your PAN Card or click a photo of it.
• Step 9: In order to verify your address, you have to upload any one of the documents (Aadhaar card, Voter ID, Passport, Driving License).
• Step 10: Now enter the same address details as on the documents.
• Step 11: Now you need to upload your e-signature. Check the declaration box and hit the ‘Click to sign’ button & sign using your fingers.

 Hurray! your account has been successfully created.