How to Open An Demat Account

If you’re thinking about entering the stock market or expanding your investment portfolio, having a Demat account is essential. Among the many options available, Upstox is one of the most popular platforms for beginners and experienced traders alike. Opening a Demat account with Upstox is simple and straightforward. Here’s a guide to help you through the process.

Why Choose Upstox?

Before diving into the steps, it’s important to know why Upstox stands out:

• Low Brokerage Fees: Upstox offers one of the most affordable brokerage services.
• User-Friendly Platform: Both the app and the web interface are intuitive, making trading easier.
• Advanced Tools: You’ll have access to cutting-edge research tools and market analysis features.

Now, let’s get started on opening your Demat account with Upstox.

Step-by-Step Guide to Open an Upstox Demat Account

1. Visit the Upstox Website or Download the App

The first step is to head over to the Upstox website or download the Upstox app on your smartphone (available on Android and iOS). The process can be completed on either platform.

2. Click on “Open Demat Account”

Once you’re on the site or app, look for the “Open Demat Account” button. It’s usually highlighted on the homepage.

3. Fill Out the Basic Information

You’ll need to provide some personal details, including:

• Full name
• Email address
• Mobile number

After submitting these, you’ll receive an OTP (One-Time Password) to verify your mobile number.

4. Enter Your PAN Card Details

Your PAN card is mandatory for opening a Demat account. Make sure you have it handy and input the details as requested.

5. Link Your Aadhaar via e-KYC

To verify your identity, Upstox uses e-KYC (Know Your Customer). You’ll need to link your Aadhaar for this. Make sure that your Aadhaar is linked to your mobile number, as you’ll receive an OTP to complete the verification process.

6. Provide Bank Account Information

Next, you’ll need to enter your bank account details. This step is important, as your Upstox account will be linked to your bank for transactions, deposits, and withdrawals.

7. Upload Required Documents

Here’s a list of the documents you’ll need to upload:

• PAN Card (front side)
• Aadhaar Card (front and back)
• Passport-sized photograph
• Bank statement or a cancelled cheque (to verify your account details)

8. Complete the In-Person Verification (IPV)

As part of the account-opening process, Upstox will conduct a quick In-Person Verification (IPV). You’ll need to record a short video to confirm your identity, which you can do from your phone or webcam. Don’t worry, this only takes a few seconds!