What is NSDL Demat Account

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What is an nsdl demat account?
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Introduction

• NSDL or the National Securities Depository
  Limited is Indias oldest depository institution,
  established in 1996. It was the countrys first
  electronics securities depository and holds
  securities such as bonds, shares, etc., in an
  electronic format. Traditionally, these were held
  in paper format.
• With NSDL holding securities electronically,
  their management has become relatively easy and
  hassle-free. NSDL can be compared to a bank. The
  difference, however, is that while banks have
  depositors' money, NSDL has securities. NSDL is
  one of India's two central depositories, the
  other being the Central Depository Services
  Limited (CDSL).

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What is an nsdl demat account?

• NSDL Demat account refers to an account with
  NSDL. To open an NSDL Demat account, you need to
  visit a DP registered with NSDL. The list of
  participants is available on the institutions
  website. Note that stockbroking houses double up
  as DPs and you can approach any stockbroking firm
  to find out if it's registered with NSDL or not.
• If yes, you can open an NSDL Demat account with
  the help of that DP. Opening an NSDL Demat
  account is a simple process.

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Process of opening

1. Complete the Know Your Customer (KYC)
   requirements that include submitting the
   application form along with your PAN card,
   address proof and bank account details.
2. Upon successful verification of the documents,
   the DP will open the account for you.
3. Once the account is opened, the DP will give you
   all the details about your account, such as
   client ID, DP ID, tariff sheet, etc. You will
   also get the login credentials for logging into
   your account.

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