Open a Free Demat Account Online

Yes, linking a bank account is mandatory to open and operate a Trading/Demat account. It is required for:

• Fund transfers (adding or withdrawing money)
• Receiving dividends, refunds, and sale proceeds
• KYC verification and compliance with SEBI regulations

You cannot complete the account setup without linking at least one valid bank account.

Recommended Bank Accounts:

• A savings account in your own name
• A joint account (only if you are the primary or one of the account holders)

Not Allowed:

• Third-party bank accounts (not in your name)
• Minor accounts (unless opening a minor Demat)
• NRI accounts linked to resident trading accounts (and vice versa)

Ensure the name on the bank account matches your PAN to avoid rejection during verification.

Yes, you can link multiple bank accounts to your trading account.

To Add an Additional Bank Account:

1. Submit a cancelled cheque or bank statement via the BOT application or broker’s portal.
2. One of the accounts will be marked as your primary/default for transactions.
3. You can change the default bank anytime by submitting a request.

Linking multiple accounts provides flexibility for managing your funds across different banks.

Yes, you can open a joint Demat account.

A joint Demat account can have a maximum of three holders:

• First holder (primary)
• Second holder
• Third holder

Key Points:

• The first holder’s PAN and KYC are mandatory.
• All joint holders must complete KYC and sign the application.
• The Trading account, however, is typically held only in the name of the first holder.

Demat Account: Yes. A minor can open a Demat account, but with the help of a guardian.

Trading Account: No. A minor is not allowed to operate a Trading account (as per SEBI rules).

Hence, buying/selling shares or F&O trading in a minor’s name is not allowed.

The Demat account can be used only for receiving gifted shares or IPO allocations (in the guardian’s control).

Steps to Open a Minor Demat Account:

1. Fill out a Minor Demat Account Form available in our website.
2. Submit the following documents:
   • Minor’s PAN card
   • Birth certificate of the minor (for age proof)
   • Guardian’s PAN card and Aadhaar
   • Guardian’s photograph and signature
   • Guardian’s bank proof
   • Address proof of minor or guardian (as applicable)
3. Guardian completes KYC and signs on behalf of the minor.
4. In-person verification (IPV) of the guardian is done.
5. After verification, the Demat account is opened in the minor’s name, operated by the guardian.

Important Notes:

• Once the minor turns 18, the account can be converted to an individual account by submitting KYC again.
• No active trading can be done from a minor’s account until that time.