So, here if you are getting into the trade, then yes Demat account is necessary but on the other hand if not have an Aadhar card then you have to opt for the alternative way discussed ahead in this article.
For those not having an Aadhar Card or facing any other issue while verifying their details like:
Aadhar Card is not linked with mobile number.
The applicant does not get the OTP sent by the stockbroker.
The server of the website is down.
The applicant does not have an incoming SMS service on the registered mobile number, etc.
In all such situations, you can easily switch to an alternative solution, eMudhra.
Let’s dive in to learn how to open a Demat account with eMudhra.
How to Open Demat Account without Aadhar OTP?
Generally, the online account opening process involves entering basic details, uploading documents, and e-sign using the NSDL portal.
Now if you do not have an Aadhar card or do not receive OTP in your linked mobile number, in that case, you can simply switch to the eMudhra, the steps of which are discussed below:
Step 1: Go through the standard account opening procedure by submitting documents required for demat account like Pan Card, Address Proof, photograph, email Id, Mobile Number, and so on.
Step 2: For the further verification that includes the NSDL verification, the procedure shifts the steps to another direction.
Step 3: If an applicant does not have an Aadhar Card, in that scenario, the NSDL verification is skipped and got replaced by eMudhra eSign verification.
Step 4: Again, fill in the Name, Email Id on eMudhra eSign.
Step 5: Fill in the information like PAN Card, Email Id, Name, OTP sent on the Email Id and documents again on the eMudhra and click on Save & Continue.
Step 6: The last step is uploading the video by using the given text and saying it out loud to record. After the same, showcasing the PAN Card and other Government registered Address proof for at least 5 seconds.
Once verified the account opens in few minutes thus allowing you to trade using your Demat Account.
So for those finding an answer for Can I open demat account without Aadhar card, here is the solution that helps you to open and operate your demat account.
Make sure you verify your details properly and carry the Government registered identity proof along with you to avoid any delay.
Now open a demat account even without Aadhar Card. Get in touch with us and start trading in no time.
