Eligibility and Documents Required for Demat Account in 2024

by Anjali Sharma
13 June 20245 min read
Eligibility and Documents Required for Demat Account in 2024Eligibility and Documents Required for Demat Account in 2024
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A demat or dematerialised account is mandatory if you want to invest in securities e.g. shares, bonds, ETFs, commodities etc. A demat account is an electronic account meant to hold securities in digital or electronic form. 

The Indian economy is poised to grow among its global peers and stock markets reflect the upward momentum of its businesses and corporate sector. Every investor is keen to participate in India growth story and the number of new demat accounts has multiplied in recent years.

Who can open a demat account, you must be wondering? In this blog, we will explore the eligibility and documents required for demat account.

In India, demat accounts can be opened with two main depositories: CDSL (Central Depository Services Limited) and NSDL (National Securities Depository Limited). There are compulsory requirements to open a Demat account

What are the Eligibility Criteria to Open a Demat Account? 

Demat Account Age Limit

There is no specific age limit to open a demat account in India. Even a minor (less than 18 years of age) can open a demat account.

Similar to a bank account, a demat account for a minor is opened by parents or appointed guardians and investment transactions can be done in the minor’s demat account.

At 18 years of age, once the minor turns adult, the account is converted into a regular demat account after submitting the documents required for demat account to the depository. Therefore, there is no demat account age limit restriction in India.

PAN Card

It is mandatory to possess a PAN card to open a demat account as part of KYC (Know Your Customer) process.

A copy of the PAN card and other documents for demat account needs to be submitted to your broker while opening a demat account.

With technology, now KYC can also be done digitally via verification through Aadhar. Open a demat account with Rupeezy with quick e-kyc and paperless account opening.

Also Read: Know Your PAN Number

Who is Eligible to Open a Demat Account?

Let us see the eligibility for demat accounts in different categories: 


  • Resident Individual
  • NRIs
  • Minors (with parents or guardian)

Non – Individual

  • Companies/Corporates
  • Trusts 
  • Banks
  • Mutual Funds
  • Partnership Firms
  • Limited Liability Partnership
  • Societies

What are the Documents Required for Demat Account?

Other than a PAN card copy, further documents are required to ascertain the identity and address proof of the applicant. Let us see what documents are required for opening a demat account you need to keep handy:

Proof of Identity

Driving License, voter ID card, Adhaar card, PAN card, passport utility bills or other ID card carrying the applicant’s photo issued by government/regulatory body/relevant authority can be submitted as identity proof. 

Proof of Address

Passport, driving license, voter ID card, ration card, bank statement not older than 3 months, utility bills and other such relevant documents are acceptable as address proof. 

Proof of Income

Proof of income validates the source of funds you are placing for investments via your demat account.

Your latest salary slip, Form 16, bank statement, ITR copy or acknowledgment, copy of audited yearly accounts or net worth certificate issued by a relevant authority & such can be submitted as income proof.


Anyone can open a demat account, it is a simple process with minimal formalities. There is no demat account age limit, even a minor can hold a demat and invest with parents or legal guardians.

There are statutory documents required for a demat account to be submitted e.g. PAN card copy, identity and address proof, income document and passport size photograph.

Online broking platforms now offer e-kyc and a completely paperless demat account opening process. Open a demat account on Rupeezy with zero account opening fee, and use the Rupeezy App for a smoother process.


1. Who is eligible for demat account?

A resident individual or NRI or non-individual (corporates/institutions/trusts/societies etc) can open a demat account.

The applicant needs to submit required documents like PAN copy, identity, address proof and income documents like passport, Aadhar, voter’s id card, bank statements, utility bills etc. 

2. What is the eligibility age for demat account?

There is no demat account age limit, even a minor can open a demat and invest in stock markets with parents or legal guardians.

3. Can a college student open a demat account?

Yes, even a college student can open a demat account as long as PAN card copy and other identity and address proof documents are available. 

4. Who is eligible for trading?

Anyone can open a demat and trading account to begin trading.

PAN card copy, identity proof and address proof are required to open demat and trading account. Even a minor can open an account with parents or legal guardians.

5. Can I open a demat account for a minor?

Parents or appointed legal guardians can open a demat account for a minor upon submission of required documents.

Once the minor turns 18, depository notifies the applicant to submit relevant documents and convert the account status from minor’s demat holding to a major/adult’s demat holding.

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