How to Open Demat Account in Indusind Bank

The very initial step is to select a Depository Participant (DP) with which you want to open your demat account. The list of DPs is available in the websites of depositories: CDSL (Central Depository Services (India) Ltd and NSDL (National Securities Depository Ltd).

You have to keep in mind some points before finalizing your DP such as fees charged by the DP, service quality provided by the DP, etc.

The investor has to go through the following process in order to open a Demat Account in Indusind Bank:

Step 1: Visit the Depository Participant (DP) i.e. Indusind Bank

To open a demat account, you have to visit the depository participant (DP) i.e. Indusind Bank.

Step 2: Fill up an account opening form

Your DP will provide you an account opening form. You need to fill up all the columns of the form properly.

Step 3: Submission of required documents along with the account opening form

You are also required to submit copies of the required documents like proof of address, proof of identity, passport-sized photographs. You also need to have a PAN card. Don't forget to carry the original documents with you for verification.

Step 4: In-Person Verification

In-Person Verification would be carried out by one of the DP's staff who would check all the details provided in the account opening form.

Step 5: Sign an agreement with DP

You will have to sign an agreement with DP in the depository prescribed standard format, which gives details of rights and duties of investor and DP. You are given a copy of the agreement along with a copy of the rules and regulations, the terms of the agreement and the charges that you will incur.

Step 6: Obtain Demat Account Number

DP will then open an account and allot you the demat account number or client id. This is also called beneficial owner identification number (BO-ID). All your purchases / investments in securities will be credited to this account. If you sell your securities, your demat account will be debited.

Proof of Identity for Opening a Demat Account

  1. PAN Card
  2. Voter's ID
  3. Passport
  4. Driver's License
  5. Bank Attestation
  6. IT Returns
  7. Electricity Bill
  8. Telephone Bill
  9. ID cards with applicant's Photo issued by:
    • Central or State Government and its departments
    • Statutory or Regulatory Authorities
    • Public Sector Undertakings (PSUs)
    • Scheduled Commercial Banks
    • Public Financial Institutions
    • Colleges affiliated to Universities
    • Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc.

Proof of Address for Opening a Demat Account

  1. Ration Card
  2. Passport
  3. Voter ID Card
  4. Driving License
  5. Bank Passbook or Bank Statement
  6. Electricity Bills
  7. Residence Telephone Bills
  8. Lease and License Agreement or Agreement for Sale
  9. Self-declaration by High Court or Supreme Court Judges
  10. ID cards with applicant's Photo issued by:
    • Central or State Government and its departments
    • Statutory or Regulatory Authorities
    • Public Sector Undertakings (PSUs)
    • Scheduled Commercial Banks
    • Public Financial Institutions
    • Colleges affiliated to Universities
    • Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc.