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April 28, 2022

How to Open a Demat Account In 5 Minutes

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On a random day, one of my friend said to me that he was trying to open an account a d-mat account with some broker and he said such a lengthy and a tiring and a boring process he said I’m not even understanding what I’m doing I said what’s the problem like it can be done in like less than two minutes he said “are you trying to compare opening a d-mat account with cooking Maggi like will be done in two minutes”  I said interesting comparison I personally feel that opening an account can be done quicker than preparing Maggie what do you feel? so I am going to tell you how to open an account with a broker.

Let’s try to understand that on what rationale on what basis is the entire account opening process setup first of all let’s understand if you were to open a d-mat account in a physical format what you would have done

Filling up the Form

First, you would have to receive a physical form then what you would be doing you would be filling up the basic details like name, a mobile number, your other number your mother’s name all the basic details you would be filling up right that would be step number one filling up the basic details.

Attach the Documents

step number two: – then what would you be doing you would have attached the photocopies of all these basic details write which are like the name proof under is proof maybe you would have attached a blank check which is of course a cross-check maybe a bank statement you would have attached so we would have taken photocopies of this and then we would have attached them as a name proof or an address proof right so that would have been the step number two

Sign the FORM

Step number three:- after filling out the form JUST sign it and paste your photograph on the form.


if you know what used to happen earlier was that there is something wrong with an IPV(In-person verification) after finishing up the entire form a person from the broker’s office used to come to visit in person to see that you yourself are the person who is submitting the accounts just to ensure the authenticity of the account opening it should not happen that your documents have illegally gone to someone else I mean someone is possessing your accounts without your knowledge and he or she is trying to open an account without your knowledge so to avoid such a situation IPV in-person verification used to be done in this way.

In short, the procedure is filling up the form number one after attaching the requisite documents number two after signing it after fixing my photograph the broker’s person used to visit you he is to collect the form and he was to do an in-person verification use to ask people that this is where you stay, this is earning, your documents, are you aware that you are opening this account and all.

Right now this used to be a pretty lengthy process, of course, it is done even today but could there be a better substitute, yes and that is the E-ACCOUNT OPENING process now what happens in an account opening process step let’s understand one by one.

number one you would have filled your basic details as step number one while filling up the physical format now here what are you going to do you’re going to type out your basic details like your name, your  number,  your mail ID, your mother’s name all these details now we’ll type out step number one completed

step number two where you used to attach or staple your documents what we will do is instead of stepping those photocopies to your main form what we are going to do now we are going to attach the PDFs of all these documents attach PDFs of other your PAN Card and your bank statement all that right after that is done we used to sign the form physically now what we want to do we are go to e sign the form. for e signing the form you might be aware that there’s something known as a digital signature but not everyone might have their own digital signature and that is why many brokers have tied up with some other entities who would help them to assign so just as an example dgo is one of the service product providers who provide the service of signing the form.

So now what does happen understand you have filled in the basic details, you have attached to the PDFs of all these documents so step number two done. step number three instead of signing you have done an e signing and last point was broker person used to visit to account holder  for an IPV (in person verification) now instead of that what can be done now the IPV is done by giving an access to your webcam.  we give an access to the webcam and just to ensure that it’s me who is allowing to do it and OTP will be sent to your registered mobile number or your registered email id you have to write it down on a piece of paper and you have to show it like some prisoners show their badge number,  you have to pose in front of the camera showing that OTP right.

So I hope you have understood the process very nicely




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