Demat Account FAQs
Can I open more than one Demat account under the same name?
Yes, you can open more than one Demat account under the same name. You can open the account with the existing depository or can choose a different depository. Every time you open a new account you have to give the depository the Know Your Customer (KYC) details.
What documents are required to open a Demat account online?
For online Demat account opening you need to have the following documents:
1. Identity proof
2. Address proof
3. Proof of income
4. A bank account
5. PAN Card
6. Passport size photographs
Does a Demat account require minimum balance?
No. A Demat account does not require a minimum balance. You can also open a Demat account without any shares.
How can I transfer shares from one account to another?
You can transfer the shares either offline or online. Online transfer of shares can be done via the Central Depository Services Limited website. In case of offline share transfer, you need to keep in mind that the shares are held by a depository. If the new and existing brokers are associated with the same depository, then it will be an Intra-depository transfer also known as the off-market transfer. In case of brokers being from different depositories then the transfer will be an Inter-Depository transfer.
Where can I find my Demat account number?
When your Demat account is opened, you receive a letter from the depository which includes all the details regarding the Demat account. The account number is also known as Beneficiary Owner ID.
The number of digits may differ based on which depository your account is from. In case of a CSDL, the account number will have 16 numeric digits. Whereas in case of NSDL the number will start with the letters ‘IN’ followed by 14 numeric digits.
In case you have misplaced your Demat account number, you can call up your Depository Participant’s customer care number and they can help you recover it.
How to link the Demat account to Aadhar?
To link your Demat account to your Aadhar, you need to visit the NSDL website. You will find a link named ‘Aadhar Number to Demat Account’. Enter the name of your depository, their ID, client ID, and PAN details. Next, enter the OTP password received. Now you enter your Aadhar details in the new link. You will receive an OTP on the Aadhar registered number. Click on submit after entering the OTP.
What is a ‘Market Trade’ and an ‘Off Market Trade’?
Market trade is where a clearing corporation is involved in the trade settlement. Off Market Trade is where the settlement is done directly between the two parties in question with the clearing corporation.