Hello, friends today in this article I am going to explain How to Open Upstox Demat Account?
To open an Upstox Demat Account you can follow this step by step guide.
I have explained all the important points regarding Upstox account opening, the process is very simple, you can easily open your Upstox Account by following the below steps.
If you don’t have a laptop or Computer For Opening Upstox Account Online, you can even use your mobile phone.
Now let’s start the article so that your investing journey gets a push.
Upstox Account Opening Documents
First of all before opening an Upstox account, you need to arrange all the required documents.
To open an Upstox Demat Account you will need these documents:
- Aadhar Card (ID Proof)
- Resident Proof
- Pan card
- Passport-size photo (Live Selfie)
- Signature (Virtual, Draw it via fingers)
Upstox Account Opening Charges
For opening a new Upstox Demat account you don’t have to pay any charges. upstox is offering free-of-cost account opening for everyone.
Annual maintenance charges are zero on Mutual fund and IPO.
But Upstox charges ₹20 per order on equity, Future & Option, commodity, and currency trading.
How to Open Upstox Demat Account?
I have personally opened my Upstox Account so that you can get an idea of how to open Upstox demat account. I have also included all the images regarding the steps, so you can easily see the steps graphically and do the same to open your Upstox Account.
Step by Step guide for opening an Upstox Demat Account Online:
Firstly go to the play store and search for the Upstox App.
Then Install the Upstox Mobile App.
After Installing, Open the App.
Enter your mobile number, and click on continue.
Verify your mobile number by entering the OTP, and clicking on continue.
Then you have to add your Email ID, and Upstox will fetch your email ID from your mobile phone. If email ID is more than one then you have to Choose which one you want to link with your Upstox Demat Account. You can even Add the email manually.
After that you have to complete the KYC Process, in this section, you can choose Normal Upstox Account or Upstox Pro Account.
Then Click on Complete your KYC Option.
To do KYC you have to complete all 6 steps.
- Personal Details
- Choose your trading experience.
- Choose your yearly income.
- Choose your occupation, like – student, housewife etc.
After that you have to give a declaration about yourself, wether you are politically exposed or not, etc.
Then Upstox will ask for a signature, but you can’t upload your signature. You have to click on draw signature, using your fingers draw the signature, and click on continue.
Upstox will ask for Pan Card details, type the pan number and your date of birth as per Pan Card and click on continue.
On the next page, Upstox will ask for verification with Aadhar and PAN card using Digilocker. Click on the share with digilocker option.
You will be redirected to the Digilocker website, to login you have to type your aadhar number and Captcha code and click on the next Option.
An OTP will be sent to your Aadhar-linked mobile number, Fill in the OTP and click on continue.
Then Allow Digilocker to Upload your Aadhar for KYC Verification.
Wait for a few seconds, and all your Aadhar details will fetch, after the details, you have to add your father’s name or if you are a housewife then add your husband’s name and click on proceed.
After that you have to take a Live selfie of yourself, to do click on take selfie option. When the circle becomes green click on capture.
Passport size photo will be generated, then you have to click on the continue option.
In this section, Upstox will ask for your bank account details. You can even use UPI verification or you can do it manually.
We will choose the Add details manually Option, and click on Continue.
Add your Bank account number, IFSC Code, Your Full name as per Passbook, and account type, and click on continue.
Wait for a few seconds, Your Bank Account will be verified. Upstox will send ₹1 to your account for verification.
After the bank account verification is done, Upstox charges and offers will be displayed click on continue.
Then you have to choose which services you want to activate on your Upstox Account.
Equity, Mutual Funds, and IPO are already Selected, if you want to do Future and Option, Currency Derivatives, or Commodities trading choose the service from this page by selecting it. Then click on continue.
If you choose Future and Option, Currency Derivatives, or Commodities trading then you have to upload your income proof.
As income proof, you can upload your bank statement, salary slip, ITR.
If you only select Equity, Mutual Funds and IPO you don’t have to upload any income proof just click on skip, I will do this later.
If you insist on uploading income proof, then I will recommend you upload a Bank statement.
Click on Bank Statement and click on Continue. After that select your primary bank account then click on continue.
Next, you have to upload your bank statement, here you can even automatically fetch details or Upload a Bank Statement manually.
We will select the automatically fetch option, just click on it and continue.
After that you will get an OTP on your Registred Mobile number Fill it in the box and click on login.
All the registered bank accounts will be fetched, choose which one you want to link to the Upstox account.
After that click on verify account, you will get an OTP from your selected bank. Fill it in the blank box and click on verify account.
Then wait a sec new page will open, click on the Approve Data Sharing Option.
You will be redirected to the Upstox page, here you need to add a nominee. Just add all the details like – the nominee’s date of birth and pan number.
If you don’t want to add a nominee then just click on Add Later option, but I will personally suggest that you should fill it out now.
After that new page will be displayed, here you have to verify your form with Aadhar. To do this click on sign application.
Then after that select your design getaway, you should select NSDL 2.1 (it’s important) after selecting accept terms and conditions, and submit the Form.
Again a new page will come up, click on the I hereby authorize option. Then type your 12-digit Aadhar Number and click on send OTP, you will get an OTP on your Aadhar linked mobile number, fill it in, and click on verify OTP.
Your Esign will be completed, as well as the Upstox Account Opening Application form will be submitted.
The application usually takes 2 or 3 working days to approve, after that you will get an email or SMS from Upstox. Then your Upstox ID and Password will be created.
Just use the ID and Password provided by Upstox, and log in to the Upstox mobile app. And start Your investing journey 🙂
Frequently asked questions
What is the account opening fee in Upstox?
The account opening fee (charges) for Upstox is zero, you don’t have to pay any charges for Upstox Demat Account Opening.
Is Digilocker mandatory for opening Upstox account?
Yes, all the documents are fetched through Digilocker so Digilocker is mandatory for Account Opening.
Can I open an Upstox account without Aadhar?
No, Aadhar is a mandatory document for opening an Upstox Account. You have to type your Aadhar number for verification, that’s why you can’t open an Upstox account without an Aadhar Card.
How to Open Upstox Demat Account?
Opening upstox account is a pice of cake, it will only take 2 minutes. I have explained all the process, just read and open your upstox demat account.
Conclusion
In this article I have explained all about How to Open Upstox Demat Account and it’s step by step process. by following these steps you can open your upstox demat account.
opening upstox demat account is so simple, its just a 2 minutes process, anyone can open there demat account just follow above steps.