A Demat account is a Dematerialized account that helps investors and traders to participate in the Stock market with ease and convenience. You can buy, sell, store, and transfer Stocks, Bonds, ETFs, Mutual funds, and other securities electronically. In other words, a Demat account works like a Bank account. A Bank account stores your money, while Demat account stores your Securities that get debited and credited per your request. Hence, opening a Demat account is necessary for investors and traders.
There are many Stockbroking firms in India offering the facility of opening a Demat account, and Kotak Securities is one of them. It is easy and convenient for opening a Demat account with Kotak Securities.
Kotak Securities is one of India’s leading stock broking companies with more than 25 years of experience in the financial industry. It is a subsidiary of a renowned private-sector bank in India called Kotak Mahindra Bank Limited.
For opening a Demat account online, you’ll need some documents, which are PAN Card, Aadhar Card (with linked mobile number), Bank Account Number, and your e-sign along with your Photocopy.
Once you gather all the needed documents, you need to go to the Kotak Securities website. On the Kotak Securities website, at the top, you’ll see the option “Open a Demat account.” Now, you need to click on that button.
When you’re on the “Demat Account Opening” webpage, you’ll see the “Open Free Demat Account” Now! Option where you’ll have to enter your Name, Mobile Number, and Email ID. After selecting City, you need to click on the ‘Submit’ option. You will have to verify your mobile number and Email ID.
You’ll get directed to another webpage, where you need to enter your basic details like name, age, DOB, etc. Once you’re done entering your details, you need to upload all the documents to the Digi locker. Digilocker is a secure online platform used to store, share, and verify documents. It comes under Digital India action by the Ministry of Electronics and Information Technology, Government of India.
After all the necessary formalities, you click on ‘eSign and Submit Form.’ Once you click on ‘eSign and Submit Form’ in the last step, they will direct you to the NSDL Electronic sign Service webpage. Then, you have to enter your Aadhar number first. You’ll get an OTP on your Aadhar registered phone number. Enter the OTP and validate to complete them.
Next, you’ll have to wait for the documents verification process from the Kotak securities company. Generally, it’ll get done within an hour during working hours. Once the verification of your documents is complete, you’ll get your Demat account credentials. Now, you have done with opening a Demat account; you can start trading and investing in the Stock market.