Who Can Open Demat Account in India | Know the Eligibility (2024)

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Bajaj Financial Securities Limitedis a subsidiary of Bajaj Finance Limited and is a corporate trading and clearing member of Bombay Stock Exchange Ltd. (BSE) and National Stock Exchange of India Ltd. (NSEIL), and also a Depository participant with National Securities Depository Ltd (“NSDL”) and Central Depository Services Ltd. (“CDSL”).

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Personal Loan, Fixed Deposit, EMI Card are provided by Bajaj Finance Limited.Bajaj Financial Securities Limited is only a distributor. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.

Please Note:

Stock Brokers can accept securities as margin from clients onlyby way of pledge in the depository system w.e.f. September 1, 2020
Update your mobile number & email IDwith your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
Pay 20% upfront marginof the transaction value to trade in cash market segment.
Investors may please refer to the Exchange'sFrequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 and BSE vide notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020and other guidelines issued from time to time in this regard.
Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language:BSE|NSE

If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email toconnect@bajajfinserv.inor call on the toll free number.

Filling complaints on SCORES - Easy & Quick

A. Register on SCORES portal B. Mandatory details for filling complaints on SCORES (i) Name, PAN, Address, Mobile Number, E-mail ID C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances.

Compliance officer:

Mr. Harinatha Reddy Muthumula,TEL: 1800 833 8888;Email:compliance_sec@bajajfinserv.in for DP related toCompliance_dp@bajajfinserv.in, for any investor grievances write to investcare@bajajfinserv.in

DISCLAIMER

STANDARD DISCLAIMER

Investments in the securities market are subject to market risk, read all related documents carefully before investing.

Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited,1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403.

Website:https://www.bajajbroking.in/

RESEARCH DISCLAIMER

Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014| CIN: U67120PN2010PLC136026|Research Analyst SEBI Registration No: INH000010043.

Details of Compliance Officer:Mr. Harinatha Reddy Muthumula (For Broking/DP/Research)|Email: compliance_sec@bajajfinserv.in/Compliance_dp@bajajfinserv.in |Contact No.: 020-4857 4486 |

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

DISCLOSURES

Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043.

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ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisem*nt tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

This Report has been prepared byBajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsem*nt of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.

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Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.

Research analyst has served as an officer, director or employee of subject Company: No

Bajaj Financial Securities Limited has financial interest in the subject companies: No

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No

Subject company may have been client during twelve months preceding the date of distribution of the research report.

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available athttps://www.nseindia.com/

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.

RISK DISCLOSURE ON DERIVATIVES

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000.
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit.Visit : https://www.bajajbroking.in/pricing

MTF

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform andBajaj Financial Securities Limited will not have any role in it.

MARKETSMITH / GOLDENPI / SOVEREIGN GOLD BONDS

Bajaj Financial Securities Limited is only distributor of this product. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism. Bajaj Financial Securities Limited is not a registered Investment Advisory. User discretion is required before investing. Client is requested to independently evaluate and/or consult their professional advisors before arriving at any conclusion to make any investment. The decision to invest shall be the sole responsibility of the Client and shall not hold Bajaj Financial Securities Limited, its employees and associates responsible for any losses, damages of any type whatsoever.

IPO

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.

IPO FINANCING

IPO Financing is done through Bajaj Finance Limited. Bajaj Finance Limited (BFL or Lender) reserves the sole right to decide participation in any IPO and financing to the client shall be subject to credit assessment done by the lender. Also, BFL shall have full rights to decide the commercial terms for IPO and final application and financing shall be subject to all requirements being met by the client in a timely manner including documentation, account setup and payment of required Interest and Margin. Bajaj Finance Limited also reserves the exclusive rights to change any of the above-mentioned terms and conditions without prior notice to clients. The scheme margin is subject to change. UPI is mandatory to bid in all IPOs through our platform. As per exchange guidelines, all the UPI mandates will only be accepted till 5:00 PM on IPO closure day.

SCREENERS

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform.

SECURITIES

Securities quoted are exemplary and not recommendatory.

IPV

Account would be open after all procedure relating to IPV and client due diligence is completed.

IMAGES

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds,Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.

FAQs

Who Can Open Demat Account in India | Know the Eligibility? ›

Demat Account for NRI: NRIs can open demat accounts in India for stock market investments. They can participate in ETF investments, futures and options trading, but not intraday trading. NRIs can hold securities acquired as resident Indians even after becoming non-resident Indians.

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Who is eligible to open a Demat account in India? ›

The following entities are eligible to open a Demat account in India.

Resident individuals.
Non Resident individuals.
Corporate entities.
Partnership firms.
Banks.
Registered or unregistered trust.
Mutual funds.
Registered or unregistered society.

More items...

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Can foreigners open a Demat account in India? ›

Who cannot open a Demat account? ›

Both, as an adult or as a minor you can have a Demat account to trade in the stock market. If you are under 18 years of age, your Demat account could be opened and operated by your parents or an appointed guardian in your name on submission of all the necessary documents.

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Can I open a Demat account without income proof? ›

While evidence of income is considered as part of the documents required for Demat account registration, you can open a demat account with your PAN card, bank proof, and Aadhar card. However, you should be at least 18 years of age. To trade or invest in equity, income proof is not required to open a Demat account.

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Can an OCI holder open a demat account in India? ›

NRIs, who hold a valid Indian passport or Overseas Citizenship of India (OCI) card, are eligible to open a Demat account. NRIs can hold both repatriable (NRE) and non-repatriable (NRO) Demat accounts, depending on their investment objectives.

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Can a retired person open demat account in India? ›

The plan is for empowering senior citizens, whether experienced or new in the stock market to start or restart their trading or investment journey. The first step towards a fulfilling financial journey would be opening a Demat Account.

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Can I open a trading account in India from USA? ›

Yes, USA & Canada based NRIs and PIOs can open the Trading account.

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What will happen to my demat account if I move abroad? ›

While opening a new NRI demat account, you will need to submit a fresh application and relevant documentation for Know Your Customer (KYC) compliance. Subsequently, the securities held in your resident demat account will be transferred to a new NRI (Non-Resident Ordinary (NRO)) demat account.

Can I open a Zerodha account from the USA? ›

Non-Resident Indian (NRI) Zerodha accounts can only be opened offline, unlike resident individual accounts that can be opened online.

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What are the new rules for demat account? ›

Market regulator Sebi is increasing the maximum value of investments allowed in a Basic Service Demat Account (BSDA) from Rs 2 lakh to Rs 10 lakh. This change will take effect on September 1, 2024. This means you will be able to hold a total securities' value of Rs 10 lakh in your Basic Services Demat Account (BSDA).

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Is there any disadvantages of opening demat account? ›

Annual Charges

The first thing to consider while opening a demat account is the annual maintenance fees/charges that most banks charge. However many securities you hold in a demat account, whether it's one or many, you will undoubtedly have to pay a fee on an annual basis for maintenance costs.

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Can a person have 2 Demat accounts in India? ›

Multiple Demat accounts and legality

It is legal to open multiple Demat accounts. However, it is not allowed to open multiple Demat accounts with the same brokerage firm. One can open multiple Demat accounts with full-time brokers and discount brokers simultaneously.

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Is ITR necessary for a Demat account? ›

Income Tax Returns (ITR)

Individuals with a Demat account must report their capital gains and other income from securities in their income tax returns.

Who is eligible for a Demat account? ›

In order to invest in the stock market, you must be at least 18 years old. Stocks can be purchased by both minors and adults. After presenting their appropriate documentation, the parents or authorised guardian can open a demat account in the minor's name.

Which documents are required for a Demat account? ›

Documents required

PAN card.
Proof of address (Aadhar card, driving license, passport)
Photograph.
Signature on white paper.
Income proof, for activation of futures and options segment.
Cancelled cheque or last 3 months' bank statements.

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What is the minimum balance required for Demat account? ›

Before understanding the trading charges, you need to know that there is no minimum amount or balance requirement for a Demat account. You can keep your demat account empty or store all financial assets.

Can a unemployed person open Demat account in India? ›

To open a demat account without proof of income, all that you have to do is make sure that you select only equity under the segments that you wish to trade, at the time of filling up the demat account opening application. Apart from this, you don't have to do anything else.

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Who should have a Demat account? ›

So this is what is a Demat Account. Today if you want to trade/invest in the stock market (NSE & BSE) or other securities, having a Demat Account is a must. Your Demat Account number is compulsory for electronic settlements of the trades and transactions you do.

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Do you need a broker to open a Demat account? ›

It is possible to open a Demat account without a broker through DPs but in order to participate in the stock market transactions, you have to open a trading account with the help of some SEBI registered broker/sub-broker. You can find many brokers who offer services at minimum brokerage charges.

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