Is it possible to open a Demat account online?
Yes, digitisation has helped in making the account opening process very easy. The modern e-KYC process has made the process quick and seamless. Now you can open a Demat, complete KYC verification, link bank account, and start trading with just a few clicks on a computer.
How many days it takes to open a Demat account?
Initially, it used to take 48 to 72 hours to activate a Demat account. But with the introduction of e-KYC verification and self-attestation, the process has become effortless. With Angel One, your Demat account gets activated within an hour.
How many Demat accounts can I open?
You can have multiple Demat accounts, and it’s completely legal. However, if you want to have multiple accounts, keep the following in mind.
Your Demat account is linked to your PAN, which functions as a unique identifier. If SEBI wants to track your transactions, it will do it through tracking your PAN number
Aadhar linking is also important to open a Demat. However, it is a one-time task
You can’t open multiple Demat accounts with the same broker
It is a common practice for many traders to have at least two Demat accounts. One with a full-service broker and another with a discount broker. They switch between the two depending on transaction patterns, frequency, and charges.
Is Demat account safe?
Securities stored in digital format in the Demat account are safe from theft or damage. However, risks associated with fraud and misuse remain. So, investors need to stay vigilant of any unauthorised activities related to their Demat account. The broker or Depository Participant will send you regular updates on SMS and emails regarding activities on your Demat account, which you need to track to protect your interest.
Can I open Demat account without Aadhar?
To open a Demat, PAN is essential. However, linking Aadhhar to your Demat isn’t compulsory if your mobile number isn’t linked to your Aadhaar card. Here are two options available to you. To complete the online Demat account opening process, you would need to verify your mobile number through the OTP-based authentication process. You can’t open a Demat online if your Aadhaar isn’t linked to your mobile number. In the above case, you’ll have to follow the offline route – filling up the form manually and sending it to our office.