Demat Account in IDBI

Now experience the change in trading services by opening a Demat account in IDBI. Being a bank-based stockbroker, it offers a reliable, secure, and technologically advanced platform to trade and hold your shares in dematerialized form. 

Let’s dive into the details and know-how this bank is offering the exclusive services and benefits of a Demat account to its client.

IDBI 2 in 1 Account

Since IDBI Direct is the bank-based stockbroker, thus one can reap the benefit of a 2 in 1 Demat account. In simple terms,  now you can have a Demat and trading account altogether.

A single piece of documentation and two different accounts are linked with each other and provide you with a seamless way to begin your trading journey. 

Moving ahead with some more features of 2 in 1 Demat account in IDBI

• Complete online process
• Documentation
• Quick and easy process
• Low fees and brokerage charges
• Keeps your account up to date by providing you with the statements via email
• Easy access to Demat account with trading apps. 
• Portfolio valuations on an account statement 

Currently, with more than 20K active clients, and the least number of complaints, this stockbroker is making its way to the stock market with the objective of offering a smooth beginning of the trading journey to its clients. 

Apart from this, you can reap the benefit of trading with IDBI using the 3 in 1 account.

Wondering how?

By opening a PNB Demat account where you can have the Demat and banking facility of PNB while using the trading app of IDBI.

So without any further delay, let’s know the opening process and other related information:

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IDBI Demat Account Opening

Growing technologically advanced, this bank-based stockbroker now comes with the complete online process for account opening. 

Unlike other bank-based stockbrokers, IDBI provides an Insta KYC process. 

Wondering what is it?

Well! It is a completely online process that makes account opening with the broker effortless. 

So no more hassle of visiting the branch and waiting for hours to get your account activated. 

Just a few clicks and steps and you get your account opened and registered for trading and investing in the stock market. 

Just make sure you fulfil the eligibility criteria like the applicant:

• Should be 18 years or above. 
• Should be resident of India with a valid proof
• Should be new to the IDBI bank.

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IDBI Demat Account Opening Documents

To open a Demat account you need to meet the eligibility criteria mentioned above. Therefore, you need to submit a few documents as proof of age, identity, and residence. 

IDBI Direct comes up with an easy and hassle-free process thus demanding the least document for account opening. 

To open the account online all you require is:

• Aadhar Card*
• PAN Card
• Bank Details (Account number and IFSC Code)
• Income Proof (ITR, Form-16, last 3 months salary slip) to trade in derivatives 

*Make sure that your Aadhar card is registered with your active mobile number. 

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IDBI Demat Account Opening Online

As discussed above, now you can open a Demat account with IDBI via Insta KYC. It is a quick and easy way that gives complete control in your hand. 

So without leaving your comfort, now you can register a Demat account with the broker and start trading right away. 

Thinking how to begin, here are steps below for your guidance: 

• Visit the website and click on the link ‘Open a Demat account.’
• Fill in the basic details like Name and Mobile Number.
• Verify the details by entering the OTP received on the mobile number. 
• The executive of IDBI Capital will then contact you via call and guide you with the account opening process. 
• Just keep the documents and the Aadhar number handy. 
• Also, for signature, you need blank paper and a blue or black pen. 
• Once done the account gets activated in a few minutes. 
• The account activation email will be sent to your registered email id. 

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IDBI Demat Account Opening Form

Apart from the online process, IDBI Capital also offers traditional account opening services too.

You can apply for the account opening process by visiting the nearby branch where the branch executive provides you the account opening form and assists you with the account opening process.

Just carry the original and photocopies of the documents required for the Demat account. 

Also, the offline account opening process is useful when you want to add a nominee to your Demat account or want to fill a Demat account POA. 

• Fill in the required details in the forms and submit it to the branch. 
• On complete verification, the account gets activated in a few days. 

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Let’s make it easier for you, just fill in the details in the form below and we will assist you in account opening with IDBI Capital.

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IDBI Demat Account Charges

After knowing the account opening process, the next important step is to know the Demat account opening charges. 

In general, there are different types of fees associated with the Demat account like opening fees, AMC, dematerialization charges, remat fees etc. 

The brief details of additional fees on the Demat account are given in the table below. Other than this, the opening and AMC charges are discussed in detail in another segment. 

 

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IDBI Demat Account Opening Charges

Let’s now discuss the account opening charges in detail. As discussed you can reap the benefit of free account opening with the IDBI. 

This is one of the exclusive and unique features of the IDBI in comparison to other bank-based stockbrokers. 

 

Free demat account opening offers much relaxation to beginners. Moreover, this zero fee gives you the benefit of a 2 in 1 account that adds on more advantages. 

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IDBI Demat Account AMC

Apart from the account opening fees, what other charges that bother the investors are the AMC for Demat Account charges. 

Demat account annual charges are charged annually and are meant to maintain the account and assure security to the holdings. 

AMC charges in the IDBI is ₹350 per annum. However, for senior citizens, these charges are reduced to ₹250 per annum. 

Also, these charges are free for the First Year and need to be paid from Second Year.  These charges are deducted from the trading account from Second Year onwards. 

 

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How to Use IDBI Demat Account?

You opened an account and now comes the question of how to use an IDBI Demat account. 

To operate the Demat account all you need is login credentials. These login credentials are provided to you via email or through SMS in your registered email id and mobile number respectively. 

For the efficient use of the Demat account, it is recommended to download the IDBI Direct 1.4 mobile app. 

IDBI Demat Account App

Now the broker offers the demat apps for trading, here IDBI provides IDBI Direct 1.4 to use and operate your Demat account seamlessly. 

• It is intuitive and gives you an easier way to invest in equity and IPOs. 
• The app offers you the option to invest in mutual funds and other important investment option in India. 
• With live charts, market updates, and technical indicators, it makes the overall journey of a trader from fund transfer to picking up the stock, to analysis and buying and selling online simplest than ever. 

There is a web and desktop app that allows you to trade using the widescreen of a desktop or laptop. 

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IDBI Demat Account Login 

To use the feature of the app, you need to log in with the credentials provided. 

The credentials contain the USER ID and PASSWORD. 

You can reset your password after the first login. Make sure you make your Demat account extra secure by providing a strong password containing a combination of alphabets numbers, and special characters. 

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IDBI Demat Account Number

The Demat account number is the 16 digits unique code or client id provided to you once you open an account with the stockbroker.

This 16 digit number consists of two parts: the first 8 digits is the DP ID while the last 8 digits are the unique client ID.

Since IDBI is registered with both NSDL and CDSL, the first eight-digit would be either IN300079 or 12084000 for NSDL or CDSL Demat accounts respectively, depending upon with which broker your Demat account is registered. 

So, if your Demat account number is 1208400012345678, then this 16 digit is the Demat account number, and the number following DP ID, 12345678 is your unique client code. 

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IDBI Demat Account Customer Care

Most of the time the client gets stuck either in the account opening process or post account opening. 

Some of the common queries of the customers include:

• How to do Insta KYC via the web?
• What are the documents required to open a Demat account with IDBI?
• What if one already has a bank account with IDBI, what will be the process to open the account?

To solve all such queries and to provide the best response, you can reach out to the customer care executive, between 8:30 AM to 7:00 PM (Monday to Friday) and 8:30 AM to 2:30 PM (Saturday). 

Here are the contact details of IDBI Direct Demat account customer care:

 

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IDBI Demat Account Advantages

Although we have covered all the benefits and features of the IDBI Demat account. To summarize the advantages, let’s have a quick look at a few pointers: 

• Free account opening 
• Free AMC charges for First Year
• Flat Brokerage charges on F & O
• Allow trading in equity, mutual funds, IPO. 
• Mobile and Web Trading App for trading across segments. 
• The complete online process for account opening 
• Least documentation

Although IDBI Capital comes up with a lot of benefits, every coin has two faces and so do the services of IDBI Capital. 

Let’s have a look at some of the drawbacks of IDBI Demat accounts.

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IDBI Demat Account Disadvantages

Along with the advantages discussed above, here are some drawbacks too:

• High AMC charges
• High trading charges as compared to other full service and discount brokers. 
• Not registered with MCX or NCDEX thus zero opportunity to trade in commodities. 

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Conclusion

Opening a Demat account with IDBI offers a new and unique experience to the clients. From the benefit of offering free Demat account opening to the complete online process, you can have your account registration within a few minutes. 

Further, the stockbroker asks for the least documentation making it easier for clients to take its services and step into the world of stock market trading and investing. 

So, why wait for more, open the account now, and start trading without any further delay. 

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Why wait for more, gain the experience of trading now by opening a Demat account online for FREE!

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