Ready to invest? Here’s how to open a demat account in Upstox

As the world of investing becomes increasingly accessible, more and more people are getting interested in the stock market. However, to invest in stocks, you need to have a demat account. A demat account, or a dematerialized account, is an account that holds your shares in electronic format instead of physical documents and certificates. In India, Upstox is one of the popular online brokers that allow you to open a demat account with ease. Here’s how you can open a demat account in Upstox.

Step 1: Visit the Upstox website

To start the process of opening a demat account with Upstox, you need to visit their website. You can do this on your computer or mobile device. Once you’re on their website, click on the “Open An Account” button.

Step 2: Personal Information

The next step is to fill in your personal information. This includes your name, email address, mobile number, and date of birth. You also need to create a password that you’ll use to access your account.

Step 3: PAN and Aadhaar Verification

To comply with regulations, you need to link your PAN and Aadhaar cards with your Upstox account. Upstox will send an OTP to the mobile number linked to your Aadhaar card, and once you enter the OTP, your Aadhaar details will be automatically fetched. After that, you need to enter your PAN card details.

Step 4: Bank Details

Next, you need to link your bank details with your Upstox account. You can choose from a list of 28 banks that are supported by Upstox. Make sure that the details you enter are correct, as you’ll be required to make payments and receive payouts through this account.

Step 5: SIP Registrations

If you’re interested in investing through SIP (Systematic Investment Plan), you need to enter your PAN details. This is mandatory to ensure that your SIP investments are being carried out in a compliant manner.

Step 6: E-Signing

After entering your details, Upstox will create your account opening form, which is a legal document that needs to be signed. Upstox will send the form to your registered email address, and you can sign it using your Aadhaar number and OTP. This process is known as e-signing.

Step 7: Payment

The final step is to make the payment for your account opening. Upstox charges a fee for opening a demat account. You can choose from various payment methods such as net banking, debit card, or UPI. Once the payment is made, your account will be activated.

Conclusion

Opening a demat account is the first step towards investing in the stock market. Upstox makes the process of opening a demat account simple and straightforward. By following the steps outlined above, you can open a demat account with Upstox and start investing in the stock market. Remember to do your research before investing and seek the advice of a financial advisor if needed. Happy investing!