What Documents Required For Opening Demat Account In Upstox?

A Demat Account is one that contains shares in a dematerialized form and is somewhat similar to a bank account. India has about 267 stockbrokers and almost all of them offer a Demat account.

If you are reading this, the odds are that you have been planning on opening a Upstox Demat Account. To know what are the documents required for opening Demat account in Upstox dive in.

Note that the document requirements are different for Upstox NRI Trading Account holders and the Indian holders. In this blog, we will discuss the same for the Indian traders of Upstox. Stay tuned!

Documents Required For Opening Demat Account In Upstox

Formerly known as RKSV Securities and incorporated in 2009, Upstox offers equity, currency, and derivatives trades across NSE and BSE. Further, this Indian Discount Broker provides advanced trading platforms in both mobile and web versions namely – Upstox Pro Mobile App, Upstox Pro web, and the firm’s back-office portal i.e. Upstox Keystone.

You can have access to all these only if you have an account with the broker. Relevant documents are a very important part of the Upstox Account Opening procedure. In fact, the possession of one or more crucial documents determines whether or not you are eligible to open an account with Upstox.

Upstox Demat Account Document List

The document requirements for opening a Upstox Free Demat account are categorized into 3 major sections – “proof of identity”, “proof of address” and “bank account proof”.

There are certain IDs/ documents that fall under each category. However, you would only require any one of these.

In what follows, discussed are the documents under each section in detail:

Proof Of Identity

You will have to submit a copy of any of these as your identity proof

• PAN Card
• Aadhaar/UID
• Driving Licence
• Passport
• Voter Identity Card
• NREGA Job Card
• Any central government notified document

Proof Of Address

Choose any one of the following as your address (in India) proof

• Passport
• Aadhaar/UID
• Voter Identity Card
• State issues Driving License
• NREGA Job Card
• A copy of utility bill – electricity, telephone, post-paid mobile bill, piped gas, water bill (not older than two months) 
• A copy of the bank account/post office savings bank account statement.

Proof Of Bank

Again, you require to submit any one of these

• A scanned copy of a canceled cheque
• A scanned copy of the bank statement (not older than 3 months)
• You name, bank IFSC code, and MICR code must be clearly visible in the scanned copy of your bank proof

Apart from all these, you need to submit a copy of your signature and passport size photographs.

This is the full document list that you need to submit for opening a Demat account with Upstox. There may be some people who would have all these documents with them, however, as already mentioned, you need to submit one document under each section.

If some documents are common in 2 sections like Aadhar/passport in identity and address proof, only one copy of that particular document shall be required.

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Conclusion

Now that most of the stock market trading is digital, it is essential to have an online trading and Demat account. This not only saves time but also eliminates the need for a physical broker who would charge a commission for each executed trade. 

We hope that you are now clear about the documents required for opening the Upstox Demat account. Happy investing.

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Willing to open the Demat account,

 

 

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