If you talk about the main stockbrokers in India, Upstox is one of them. You can easily create a Demat account and start trading on Upstox. Although hundreds of brokers are present in India and worldwide, if you talk about those who provide exemplary service online, Upstox is one of them. If you’re wondering, “How do I open a Upstox Demat Account?” and want to know the Upstox account opening process, you’ll find the answer here.
Along with the answer to this question ‘How to create an account in Upstox?’ you will also get the answer to other questions like Upstox account opening charges, Upstox brokerage charges, etc.
Upstox Account Opening Process
It is simple to open an account with Upstox; you do not need to go anywhere; you can open your own stock account from the comfort of your own home using your smartphone, laptop, or computer.
But if you are one of those people who do not have experience operating mobile devices or computers, etc., then you can open an Upstox account through the offline process also. For this, you have to download the form for opening a debate account, and after that, you can open your account by filling out the form.
- Advertisement -
Upstox Account opening – Online
You can open your Demat account if you are 18 years of age or older. However, if you are under the age of 18 and want to open a DEMAT account, you must submit your parents’ documents. Only after that can you open your Upstox account.
You have two ways to open Upstox account: first, you can do it online; and second, you can download the Upstox account opening form and mail it to the Upstox office.
If you want to know about the step-by-step process, check it out below.
Step-by-step instructions for opening an Upstox account online:
- Visit the Upstox website – Click Here
- Click on the ‘Create Account ‘ button
- Enter your mobile number and click on the button for the next step
- Enter the OTP received and click on the ‘Continue’ button
- Enter your email address when asked and Verify
- If using a mobile to open demat account, enter 6 digit PIN.
- Enter PAN card details
- Enter basic information like gender, annual income, trading experience, etc.
- Digital Signature
- Connect your DigiLocker account with Upstox for KYC
- Take your photo with the help of a mobile or laptop camera and submit
- Enter your savings or current account details
- Select Yes to make a derivative segment, otherwise select No. You can activate the derivatives segment later as well.
- Enter Nominee details
- Receive OTP on the mobile number linked with the Aadhaar card and enter OTP to complete the process of e-Sign.
- Your Upstox Account will be activated within 72 hours. You can also check the status of your application online on the Upstox platform.
Upstox Demat Account opening – Offline
- Download the Upstox Demat Account opening form
- Fill in all personal information
- Must give the mobile number and email id in your personal information.
- Select trading segment
- Self-attest all your documents as per the chosen segment and attach them with the form
- Paste your passport-size photo
- Fill in the details of the nominee
- Send by post to Upstox Mumbai office
The posting address for Upstox is:
- Advertisement -
RKSV/Upstox,
30th Floor, Sunshine Tower,
Senapati Bapat Marg, Dadar (W), Mumbai,
Maharashtra 400013
Compared to the online approach, the offline Upstox account opening process takes longer. Hence, in our opinion, opt for the online method because it’s really easy and quick.
Documents required for Upstox account
- PAN card
- Aadhar card
- Bank passbook (if passbook is not there, bank statement or canceled check)
- passport size photo
- Signature
It is very simple to open a Demat account in Upstox, which can be opened with your documents just like a savings account. But if you want to do trading in the derivatives segment, then it is mandatory to provide a bank passbook along with the account statement for the last six months. If you work, you will also be required to provide your pay stub. But if you are a businessman, then you can give the last filled ITR.
- Advertisement -
Upstox account opening charges
Upstox’s account opening fee is zero, and you don’t have to pay any fee for this. Upstox charges you ₹25 per month as AMC charges, which, if calculated annually, is ₹300 per year.
| Upstox account opening charges | |
|---|---|
| Upstox Opening Charges | ₹0 |
| Upstox AMC Charges ( Account maintenance Charges) | ₹25/month |
How to add Nominee in Upstox?
If you did not add the nominee when you created your stock account, you can do so by following the instructions below. Upstox gives you the option to add 3 nominees, so if you added nominees while creating your account in Upstox and you want to add more than one nominee, you can do the same by following the steps given below.
- First of all login into your account with the help of Six Digit PIN or Biometric
- Click on Account and go to Profile
- Click on ‘My Nominees‘ in the Profile section
- Here you will get the details of your nominee
- Click on ‘Add Nominee‘ or ‘Opt-out’
- Fill in all the details of the nominee and click on ‘Continue‘
- Upload all the documents of the nominee
- Select Nominee share % (100% if there is only one nominee and choose their Sharing % as per your choice if there is more than one)
- If the age of the nominee chosen by you is less than 18 years, then the details of their parent or guardian will be required.
- eSign with Aadhaar OTP and submit the application
- Within 24 to 48 hours the verification process of the added nominee will be completed and you will receive an email and SMS for its confirmation.
Whenever you add a nominee to your account, be sure to keep in mind that that nominee should not be any partnership firm, trust, society, etc., but you can personally choose any individual as your nominee. After it is added, you can set the rights of your nominee on your demat account.
Only you can add nominees to your personal Upstox demat account. You cannot add a nominee if you have registered a demat account for your company, partnership firm, trust, society, etc.