How to Open Upstox Account – A Step by Step Guide

UpStox is popular for its high-tech trading platform and their Upstox 3 in 1 smart account in collaboration with IndusInd bank.

Opening a demat account is a tedious process and sometimes applicant feel helpless as he couldn’t when you get stuck at any point in between.

No worries… If you want a step by step guidance to open a demat account with Upstox, this article will help you out.

You’ll get a step by step guidance so that you need not look here and there while opening your demat account with Upstox.

We have divided this article in 4 sections as shown below –

• Documents that have to keep handy while opening demat account in Upstox
• How to open Upstox demat account (ONLINE – With Aadhaar based KYC)
• How to open Upstox 3-in-1 account
• How to open Upstox demat account (OFFLINE – Without Aadhaar based KYC)

Without any further ado, let’s start the step by step guide on how to open Upstox account.

Documents Required to Open Demat Account in Upstox

#1. PAN card

#2. Address Proof – Aadhaar Card/Voter Id/ Driving License/Passport with self-attestation.

#3. Two Passport size photos.

#4. Canceled Cheque / Bank statement – to link your bank account, or if you don’t have a personalized cheque, then you can upload the bank statement having your name, bank account number, IFSC and MICR codes.

#5. Income Proof – You must submit your latest income proof if you want to trade in future and options or to trade commodities, equity, and currency. Income proof could be your last ITR copy or your last 6 months bank statement or your last month’s salary slip.

How to Open Upstox Demat Account (Online)

If you have Aadhar card is updated with your working mobile number, you can easily open your Upstox demat account using this signup link.

Step 1: Register with Email and Mobile Number

Visit the signup page.

Enter your email address, mobile number and click on ‘Send OTP’. You will get a One Time Password (OTP) on the mobile number you entered.

Enter the OTP, and click on ‘Sign up’.

Step 2 : Enter PAN Number and Date of Birth

Now fill your PAN card number and Date of birth on the respective boxes as shown below and click on “Next”.

Step 3 : Enter Your Personal Details

Now enter your personal details 

Enter your occupation details and select “Yes” if you are an Indian resident. If you are paying tax to any foreign country, then select “No”.

Now tick on the checkboxes to give your declaration and click on “Next”.

Step 4 : Choose the Upstox Plan

Now you have to choose two options – 

• Trading Segments – Equity, Commodities, and Future n Options
• Upstox Plan – Basic Plan or Priority Plan

Selecting the Trading Options

You can select all the trading segments if you like to trade in all segments in the future.

Selecting Upstox plan 

You can select either Basic or Priority plan depending on your trading volume or how much leverage you want while trading. Go with “Basic” if you are a beginner.

You can also enter the discount code if you have any. Then click on “Next”.

Step 5 : Enter Bank Details

Now enter your Name on your bank account, bank account number, IFSC code.

Select the account type and click on “Next”.

Step 6 : Upload Signature

You’ll redirected to next page where you have to upload your signature. 

First write down your signatures on a blank paper and click a photograph of it with your smartphone.

Then upload your signature image as the steps given below.

Step 7 : Take your Selfie

You have to take your selfie live using your webcam if you are uploading through a laptop, or you have to click a selfie if you are if you are signing up through your smartphone.

Click on “Take a picture” and once picture is clicked, then click on “Accept”.

Now Click on “Share location”.

Now you will be redirected to a new page asking you “Refer to your friend and earn money”. You can “Skip” that page if you don’t want to refer at this time.

Step 7 : Confirm you email address

Confirm your email address once again. Enter your email id and click on “Get OTP”.

You’ll get an “OTP” on your email address.

Enter the OTP and Click on “Next”.

Step 8 : Complete KYC with Aadhaar

Select “Sign up for FREE” and select “Yes” in the bottom where you’ll be asked if your mobile number is linked with Aadhar. 

Click on “Continue”.

On the next page, you’ll get some offer details. Click on the “Continue” button as given below.

e-Sign Your Application Form

On next page, Clickon “e-sign with Aadhar OTP”.

Click on e-sign now as you can see below.

You’ll get a security code on your mobile number registered with Upstox.

Enter the Security Code and Click on “Submit”.

You will be redirected to new page where you can see your application form. Click on “Sign now” button in the bottom.

You’ll now be redirected to NSDL website to verify your document with your Aadhaar card.

Tick on the “checkbox” on the top to give consent and enter your Aadhar number in the bottom box.

Click on “Send OTP”.

You will receive OTP on your mobile number linked with Aadhar Card.

Enter the OTP you have got on your mobile number linked with Aadhar Card. Click on “Verify OTP”.

Congratulations !! You have successfully completed your application. Upstox will review your application and open your account within 2 working days.

You’ll see a new option to open an Upstox-IndusInd 3-in-1 bank account. If you want to open a “3 in 1” account, click on “Proceed” as shown below, otherwise you can close the web browser window and wait for the confirmation email from Upstox.

We are going to cover the opening of Upstox 3 in 1 account in the next section.

You can also read – Upstox Account Review

How to Open Upstox 3-in-1 Account

Upstox is the best discount broker in India who offer a complete 3-in-1 account. You get an IndusInd bank account and the benefit is that you can earn interest on the unallocated amount in the bank.

Means if you want a seperate bank account for stock trading, Upstox 3-in-1 account will not only allow you to instantly move money between bank account to trading account, but also you will earn interest on the amount that you haven’t allocated for trading.

Let’s come back to the account opening point.

If you have just completed your demat account application, then you would be having a message box as below. Click on “Proceed”.

Otherwise, sign in to your Upstox application portal using this link. Enter your mobile number and email address and click on “OTP”. Enter OTP. 

You’ll be redirected to above said page. Now Click on “Proceed”.

Step 1 : Upload Your Identity Proof

You can select your identity proof as per the list below. And upload front and back of the document such as Aadhaar card. Click on “Next”.

Step 2 : Complete In-Person Verification (IPV)

You have to complete your IPV verification by recording your video live or you can record your video first and then upload to the portal.

You have to keep your PAN card in your hand while recording the video as shown in the image below.

Once recorded, click on “Confirm” and then click on “Next”.

(You can also click on “Retake” to record your video again if you doesn’t find any flaw).

Step 3 : Enter Your Personal Details

Enter your personal details as shown in the screenshot below. Click on “Next”.

Type your personalised bank account number. You can also use your mobile number as your bank account number. Click on “Next”.

Step 4 : Complete KYC with Aadhaar

You’ll be redirected to a new page where you can enter your Aadhaar number and click on “Generate OTP”.

Fill the OTP you have received on your mobile number linked with Aadhaar card. Click on “Submit”.

Once you submitted the OTP. Tick on the declaration checkbox, and select “Yes” on Aadhaar seeding consent. That means you want to link your bank account number with your Aadhaar card.

Step 5 : Create UPI and MPin

You are now on create your UPI id, create your personal mobile banking username as shown in the screenshot below.

Now set up the mPin for your online account access as below. 

Step 6 : Add Funds to Your New Account

Tick on the checkbox to finally give your consent to open the 3 in 1 bank account.

You will receive an OTP on your Upstox  registered mobile number. Enter the OTP and Click on “Submit”.

You have got 2 options to add funds to your account UPI ID and Net banking. Use the method suits you and transfer minimum Rs. 1000 to your bank account. And click on Next.

Note – Basically this is a Zero balance account but for the first time you have to add Rs. 1000.

You’ll be redirected to your UPI or netbanking page where you can transfer money to your new bank account. 

Once your payment process is completed, your will a congratulations message as below.

That’s it. You have completed your Industox 3 in 1 bank account application process. Your account will be opened in a couple of hours and you’ll receive a confirmation email on your registered email id.

Also read – Upstox vs Zerodha

How to Open Upstox Account Without KYC (Offline)

If your mobile number is not linked with Aadhar, you can open Upstox demat account through offline process. You have to physically send the application form and required documents to the Upstox head office and this process takes around 2 to 3 weeks to get the account opened.

Step 1 : Download and Print the Application Form

• Download the Upstox demat application form from this link.
• Print the application form and follow the next steps.

Step 2 : Sign the application form and Affix Photograph

• Sign on all the places marked X on the application form. 
• Affix one latest passport-size photo of yourself on Page 4 and sign across it.

Step 3 : Attach the Payment Cheque

• Attach a cheque for the specified fee amount and make it payable to “RKSV Securities India Pvt. Ltd.”
• For commodities trading, attach a separate cheque payable to “RKSV Commodities India Pvt. Ltd” in

Note – The payment in offline mode is non-refundable.

Step 4 : Attach Self-Attested Copies of Documents

You have to attach self attested photocopies of the following documents except cancelled cheque/Bank statement and passport size photograph as you have to send those in the original form.

• PAN card
• Address Proof
• Canceled Cheque / Bank statement 
• Income Proof 
• One extra passport size photograph

Step 5 : Post the Documents to Upstox Head Office

Send your documents to the Upstox Headoffice address as below.

RKSV Securities India Private Limited

Maxus Facility, 5th Floor

Near Temba Hospital,

Bhayander (West), Thane- 401101

Maharashtra

Conclusion

Now I have guided you the complete step by step process of how to open an account with Upstox. The guide will help you open the Upstox account in a few minutes.

Let me know if you find any issue during opening the account in the comment section.