What are the Documents Required for Opening an Account with India Infoline?

Last Updated: Dec 11, 2023 Value Broking 3 Mins 1.5K

To open a Demat account with Indian Infoline, you will need to provide the following documents:

A proof of identity
A proof of address
A proof of income
Bank account proof, such as a cancelled cheque or passbook
Recent passport-sized photograph

These documents are essential to comply with regulatory requirements and ensure a smooth account opening process. Make sure to have these documents ready when you initiate the account opening procedure with Indian Infoline

Eligibility to Open a Demat Account

Demat accounts can be opened by a diverse range of individuals and entities, including:

Resident Individuals
Minors (to be operated by a guardian/parent until the minor turns 18)
Non-Resident Indians
Corporate Entities
Partnership Firms (with the account in the partner’s name)
Registered/Unregistered Trusts (account in the name of trustees)
Registered/Unregistered Societies (account in the name of members)
Associations of Persons (AOP)
Limited Liability Partnerships (LLP)
Banks and Mutual Funds (for specific purposes)
Foreign Institutional Investors and Foreign Portfolio Investors (for trading accounts).

Types of Documents Required

Proof of Identity:

PAN card with a valid photograph

Any document with a Unique Identification Number (UID) like Aadhaar, passport, voter ID card, or driving license
Ration card (with photograph)
Identity cards issued by authorized bodies like Central or State Government, statutory or regulatory authorities, PSUs, scheduled commercial banks, Public Financial Institutions, and professional bodies (e.g., ICAI, ICSI, ICWAI, or Bar Council).

Proof of Address:

Passport
Voter’s card
Ration card

Registered lease or sale agreement of current residence
Driver’s license
Utility bill (not older than three months from application date)
Insurance copy
Bank account statement or passbook (not more than three months old)
Government or statutory authority document
Address proof issued by authorized entities.

Proof of Income:

Income Tax Return copy

Net Worth Certificate certified by a Chartered Accountant
Salary proof
Demat account holdings statement with other Depository Participant
Current bank account statement showing the history of past six months income.

Documents for Opening a Minor Demat Account

Specific documents are required for those looking to open a Demat account for a minor. The minor must be the sole holder of the account, and only a parent or guardian can operate it. The necessary documents include:

Copy of the minor’s PAN card
Copy of the minor’s birth certificate
PAN card of the guardian with a clearly visible photo
Proof of bank accounts held in the name of the minor
Proof of address of the guardian.

Attestation of Documents

Certain authorized individuals and entities are eligible to attest to the proof documents. This includes officials of overseas branches of scheduled commercial banks registered in India, managers of public sector Indian banks, notary publics, court magistrates, judges, Indian Embassies or Consulate Generals, among others.

Additional Requirements for Non-Resident Indians

Non-resident Indians (NRIs) seeking to open a Demat account with an India-based DP must choose between non-resident external (NRE) or non-resident ordinary (NRO) accounts. The necessary documents include proof of both Indian and foreign addresses, a Portfolio Investment Scheme (PIS) letter issued by the RBI, copy of the PAN card, and proof of the bank account category (NRE or NRO).