You can open more than one demat account in the same name with single DP/ multiple DPs.
No minimum balance is required to be maintained in a demat account.
You can give a one time standing instruction to your DP to receive all the credits coming to your demat account automatically.
You may choose your DP based on your evaluation of their reputation, service standards, charges, comfort level, other conveniences, etc.
Open the demat account in single or joint names. If the same set of joint holders held securities in different sequence of names, these joint holders were earlier required to open different demat accounts in NSDL depository system. NSDL has introduced "Transposition-cum-Demat" facility to help joint holders, to dematerialise securities in the same account even though share certificates are in different sequence of names. For this purpose, Transposition-cum-Demat Form should be submitted to the DP.
Eg: If 100 securities of company ABC are registered in the name of Suresh as first holder & Rajesh as second holder & 200 securities of company PQR are registered in the name of Rajesh as first holder & Suresh as second holder, both these securities can be held in one single demat account opened in the name of Suresh as first holder & Rajesh as second holder or Rajesh as first holder & Suresh as second holder.
Account opening procedure should typically take 1-5 days.
In case of holdings of a partnership firm, the account should be opened in the name of the 'partner(s)'.
In case of holdings of a HUF, the account should be opened in the name of the 'karta'.
In case of a minor, the demat account should be opened in the name of the minor and the guardian's name should be mentioned. The guardian will sign as signatory on behalf of the minor.
Fill account opening form (available with your DP).
Give your DP the duly filled account opening form with proof of identity and proof of address documents as may be required.
Sign agreement with DP (agreement will state rights & obligations of both parties). The agreement will contain the fee structure of your DP. Your DP would give you a copy of this signed agreement for your record.
DP would give you "Client Id" no. (account no.) once your demat account is opened. This 'Client Id' number alongwith your 'DP Id' number forms a unique combination. Both these numbers should be quoted in all your future dealings with DP/NSDL/ Issuing company/their registrar & transfer (R&T) agent.
Your DP would give you instruction slips for depository services viz., dematerialisation, delivery instruction for trades, etc. These instruction slips will bear preprinted serial numbers and your client-id prestamped. Preserve these carefully.
Your DP would give you a list of deadlines for giving instructions for various depository activities viz., transfer for effecting sale, purchase, etc. If not, check with the DP.