The number of investors in the stock market is increasing. If you also want to invest in this, then first of all you will have to open a Demat Account. It is mandatory to have a Demat account for investing in Mutual Funds. Without this no investor can invest.
According to the rules of the market regulator, without a demat account, investors cannot invest in the stock market and MF. The process of opening a demat account is quite easy. For this you do not need to go to any broker. You can easily open a demat account online sitting at home. We are telling you the complete step-by-step process of opening a demat account below.
How to open demat account? (How to open Demat Account)
step 1: First of all go to https://opendemataccount.sbisecurities.in.
Step 2: Now Sign-Up to open an account.
Step 3: After this verify the bank account.
Step 4: After account verification, select the plan.
Step 5: Now upload the required documents to open the account.
Step 6: After this sign-in and your account will be completely ready for investment.
These documents are necessary
ID Proof: You have to upload Aadhar Card (), Voter ID () for your identity proof.
Adress Proof: For address proof you will have to upload electricity bill, water bill etc.
Nominee ID: It is mandatory to enter nominee details in the demat account. For this, nominee ID will also have to be uploaded.
Signature: Sign on a white blank paper and then upload it.
Cancel Cheque: Now you have to upload the image of canceled check for bank account details.
Note: All this information has been taken from the website of State Bank of India.