Update Your Address in the Demat Account with the Help of Professionals
A Demat account is required if you want to trade on our Indian stock market. There are two main primary depositories in India namely NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited). There is no age limit in opening a Demat account.
However, there are maybe situations wherein you will be required to update your name, address, or signatures. Infiny Solutions will assist you in updating all your Demat details be it your address or signature.
What is the procedure for updating a Demat account address?
The process of updating your registered address on your Demat account can seem a bit complex. However, legal and financial firms like Infiny Solutions will ensure that your address gets updated without much hassle.
The following steps are involved in the updation of your registered address —
- Current address registered on Aadhaar: You need to update your address as per the latest address registered on your Aadhaar. You are required to complete the Re-KYC correctly to start with the address modification process.
- Updated address on your KRA: You need to raise a ticket to get your KRA details. You will be required to confirm the same through your registered email address. You can reply to your ticket straight away from the mailbox to confirm your query.
- Address as per any of your address proofs: You can send your account modification form to your DP along with your current address proof.
What are the documents required?
You need to submit the following documents to update your address on the Demat account —
- Aadhaar Card (If you are updating your as per your Aadhaar card)
- Driving License
- Bank Statement
- Voter ID
Role of legal and financial firms in the address updation on your Demat account
Often the process of updating the address is not streamlined enough for shareholders to understand. With the help of reliable professionals like Infiny Solutions, you can quickly complete the process.
Professionals firms will ask for the necessary documents and get started with the process. You will be required to provide a self-attested copy of each of the documents mentioned above. Whether you have moved to a different place for a job or marriage purpose, it is essential to update the same on your Demat account.
Infiny Solutions will send the required details to a head office, depository participant, or an online portal to update your address. You will get a notification that address modification has been authorized by the relevant party.
Charges for address updation on your Demat account
You will be charged by the financial institution in which you have opened your Demat account. You are required to pay a minimal fee plus the applicable GST for changing your address on the Demat account.