How to open Demat Account online?

Summary: Read our complete guide for opening a demat account online. Hurry up and open a demat account with IDFC First Bank and know more about online demat account.

04 Apr 2022 by Team FinFIRST

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A Demat Account is the need of the hour, if you want to hold your investments i.e. bonds, shares, mutual fund units, sovereign gold bonds, and other similar assets electronically in a single account. Here’s what you should know about it.

If you already have a Demat Account or you intend to open an IDFC FIRST Bank Demat Account, it makes sense to understand its features and various advantages a Demat Account has got to offer. With your IDFC FIRST Bank Demat Account you can convert all your investments i.e. shares, bonds, debentures, government securities, sovereign gold bonds, mutual funds, etc. held in paper form to electronic form i.e. demat form. Your IDFC FIRST Bank Demat Account can also be used to apply for various IPOs and NFOs. Your IDFC FIRST Bank Demat Account will help you to monitor your portfolio from anywhere using Internet Banking or Mobile App. In addition to the above, you can also transfer your holdings electronically, receive all corporate benefits (bonus, rights issue, etc.) in your IDFC FIRST Bank Demat Account and also receive all cash benefits like dividend, interest or maturity amount etc. in your IDFC FIRST Bank Savings Account linked with your IDFC FIRST Bank Demat Account.

How does a Demat account work?

1. Dematerialisation

It is a procedure that allows share certificates to be converted from physical to electronic form. Following that, shares are easier to maintain and have greater accessibility. You can inspect your holdings on the go, thanks to dematerialisation.

2. Participants in the depositary system

The apex trade and investment regulatory agency SEBI (Securities and Exchange Board of India) has two registered central depositories - NSDL and CDSL. To open a Demat account, you must enroll a depository participant with one of these two licensed operators. IDFC FIRST Bank Limited is a SEBI registered depository participant with NSDL. Click here to open your IDFC FIRST Bank Demat Account instantly.

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3. Client ID is a unique 16-digit number

A personal 16-digit client ID is given to each Demat account, which serves as the investor's identity. The first eight digits of the ID indicate the depository participant which is also called as DP ID: the last eight digits serve as a unique identifier for the investor, making it easier to sell or buy securities.

4. Transfer of Securities electronically

We can have some content on this as electronic transfer is an important feature

How to open a Demat Account?

IDFC FIRST Bank Demat Account a “One stop solution to manage all your investments”

Seamless & Paperless demat account opening
No account opening charges
No AMC for the first year

Your world of investments is just a few clicks away. Steps to open your Demat Account

Step 1 – Click here and login to your net banking

Step 2 – All details will be pre populated. Please capture nomination details and eSign

Step 3 – Verify & Confirm details. Accept T&C and submit OTP and your Demat Account will be opened under registered status and will be activated within 48 hours.

Why IDFC FIRST Bank?

Hassle free account opening
No account opening charges and No AMC for the first year
Apply for IPOs, NFOs with few clicks
Monitor your investments on the go using net banking or Mobile App.
No minimum account balance requirement
Nominate your loved ones (maximum three)

Things you should know:

Rights And Obligations Of The Beneficial Owner
Schedule of Charges
Investor Charters for Depository Participants
SEBI Complaint Redress System (SCORES)
SEBI SCORES Mobile App – Apple App store Google Play store
Incase if you have any other queries – write to us at demat_support@idfcfirstbank.com

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.