Documents Required To Open Demat Account In Federal Bank

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Know the details about the Documents Required To Open Demat Account In Federal Bank, NRI Demat Account Opening Procedure Details Cost

A Detailed Guide to Opening a Demat Account with Federal Bank

Investing in the stock market has become much easier and more convenient with the advent of demat accounts. One such provider of this service is Federal Bank, a major private sector bank in India. This comprehensive guide aims to help you understand the process of opening a demat account with Federal Bank, including the necessary documents, steps, and other important aspects.

Documents Required To Open Demat Account In Federal Bank

Documents Required

To open a demat account with Federal Bank, you will need the following documents:

  1. PAN Card: It serves as the primary identity proof.
  2. Proof of Address: This could be your Aadhaar Card, Voter’s Identity Card, or any utility bill not older than three months.
  3. Bank Proof: A cancelled cheque or bank statement to link your bank account to the demat account.
  4. Passport-sized Photographs: Usually one or two recent photographs are required.

Step-by-Step Procedure

Here’s how you can open a demat account with Federal Bank:

  1. Visit Federal Bank’s Website: You can choose to apply online via the FedNet portal.
  2. Application Form: Navigate to ‘Account’, select ‘Services’ and then ‘Open Demat Account’.
  3. Submit Documents: Upload scanned copies of your documents.
  4. In-Person Verification: Federal Bank may conduct an in-person verification to authenticate the details provided.
  5. Account Activation: Once your application is approved, your demat account will be activated and you’ll receive your account details via email.

Documents Required To Open NRI Demat Account Online Process

Points to Note

  • Ensure all the documents you submit are valid and up-to-date.
  • The name on all documents should match the one provided in the application form.
  • Federal Bank allows you to open a demat account instantly online, making the process highly convenient.

Things to Know

  • The process can be done completely online via the FedNet portal, making it paperless and convenient.
  • There might be account opening fees. Check Federal Bank’s website or contact their customer service for detailed information.
  • A demat account with Federal Bank comes integrated with a trading account for a seamless trading experience.

FAQs

Q: Can I open a demat account without a PAN card? A: No, a PAN card is mandatory for opening a demat account in India.

Q: How long does it take to open a demat account with Federal Bank? A: After submitting all required documents, the account can be activated instantly if applying online.

Q: Are there annual maintenance charges for a Federal Bank demat account? A: Yes, Federal Bank charges an annual maintenance fee for its demat accounts. Please check the bank’s website for the latest charges.

In conclusion, opening a demat account with Federal Bank is a straightforward process that unlocks a plethora of investment opportunities in the stock market. Ensure you have all necessary documents ready to facilitate a smooth and hassle-free account opening experience.

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