Demat account is the key to entering the stock market. If you want to start investing in the share market, it is important that you have a Demat account first. But what is the Demat account activation time? After what time will you be able to start trading from your account.
Now the Demat account activation time might vary depending on the stockbroker that you chose and the process that you adopted.
In this article, we will talk about Demat account opening time in detail.
Demat Account Opening Time
As discussed above, the Demat account opening time can depend on a lot of factors including,
- Whether the account opened is online or offline.
- The stockbroker that you choose.
- The verification of documents.
- Technical ease in case of online Demat account opening
And above all, it also depends upon the broker you choose for the Demat account. Wondering where to open a demat account?
You can now open a Demat account online and as well as offline. Let us have a look at how much time will it take in both processes.
Demat Account Opening Online Time
In the arena where everything is getting digitalized, you can open a Demat account easily, sitting easily at the ease of your home. Online Demat account opening requires you to submit the documents required for Demat account opening and complete the KYC.
It usually can take a few hours to 48 hours for a Demat account to get activated when you are using the online method.
After you have successfully uploaded the documents and verified the same, your account will get activated.
If you open your account with Choice, your account will get activated within 4 hours of your document verification.
Apart from this, if you get stuck with any step during the Demat account opening process, the support team will get in touch with you and assist you in the opening process.
Demat Account Opening Offline Time
A good amount of people still question the authenticity of online opening processes. So, to make the process reachable for them, the account opening is available offline as well. All you need to do is visit the nearest branch of your stockbroker.
Fill in the application form and submit the desired documents. The account opening, in this case, will also happen after the successful account verification.
The offline process takes more time and the demat account activation time can range anywhere between 4 days-10 days.
So, if you are opening your demat account offline, you need to wait a little longer.
How Can I Open a Demat Account Immediately?
The account opening process can take some time before you start your actual trading. However, a lot of people often look to open their Demat accounts immediately. If you are one of them, then you should look for online opening methods.
Not only it is convenient but you can also speed up the process of account opening. You just need some essential documents and some time.
With Choice, you can open your account within 4 hours of document submission.
The necessary documents for Demat account activation are as follows.
- Proof of Identity (PAN Card, Aadhar card, ID card, etc)
- Proof of Address (Aadhar card, utility bills, etc)
- Proof of Income (ITR slip, Salary Slip, Bank Statement)
- Bank details
If you have these documents handy, you can easily open your demat account.
Let us have a look at how you can open your demat account online and easily.
The Demat account opening process gets very convenient with the whole online process. The steps for the same are as follows.
- Open the website of your selected stockbroker and click on open a demat account.
- Enter your basic details like name, city, email ID and phone number.
- After this, enter your PAN card details and date of birth.
- Now enter your email ID and phone number. You will then receive OTPs on both sources. After verification, you can successfully move on to the next step.
- Enter your details and upload the necessary documents.
- Now, in the case of Choice you get the choice to pick one AMC plan out of three according to your own needs.
- Review and verify your details. You will now be directed to the NSDL website for e-sign. Make sure that your aadhar card is linked to your mobile number for easier verification.
After all your documents are submitted and verified your account will get activated.
Demat account activation time can vary and depend on various factors. You can opt for the online method if you want faster services.
But you can also go in for the offline services if you have trust issues with the online ones. However, it might take more time to activate your account in this process.
You can open your Demat account with Choice in just 4 hours. So why wait, open your account today!