The Nuvama was established in 2008 and has more than 2.9 lakh demat account holders with them.

In the past decade, they have penetrated the market and are offering one of the best services in the industry.

Rashesh Shah founded the organization and has their headquarters in Ahmedabad. Nuvama account opening procedures are streamlined so anyone can open their demat account.

This Nuvama Demat Account review will help you learn more about the discount broker and its salient features.

You do not need to worry about any process as the company executive will guide you. Let’s start with the review.

Broker Type Discount Broker
Active Demat Accounts 2.19 Lakh+
Account Opening Charges Free
AMC Rs.500 (Free for first year)
Free Account Opening Yes
Free AMC Yes

Nuvama Demat Account Review by

Overall Rating

8.41 / 10

Account Opening Process

8.38 / 10


8.51 / 10


8.45 / 10

Products & Service

8.36 / 10


8.34 / 10

Nuvama Demat Account – Top Features

The Nuvama is one of the best discount brokers in the market. Their charges are nominal, and the features are created to keep the users in mind.

Let’s know more about the critical features of the Nuvama demat account.

  • Beginners can start working without any pre-payment. There are no account opening charges, and AMC is free for the first year.
  • There are more than 400 branches across the country; you can reach them if your query still needs to be solved online. Also, if you are a newbie in the industry, seek free investment advisory from the Nuvama team.
  • The account holder can also earn referral income of up to 1000 INR for every client he onboards.
  • You can have a single account to manage equity, mutual funds, ETFs, etc.

Nuvama Demat Account Opening Charges

Account Opening Charges


Annual Maintenance Charges (AMC)

Rs.500 (Free for first year)

DP Charges

Rs. 20 per ISIN

Account Closure Charges


Reactivation Charges


Dematerialisation Charges

Rs.18 per Certificate

Call & Trade Charges

Rs. 20 per Trade

You should know their charges to open your demat account. There are no account opening charges; it is entirely free.

The Nuvama AMC is also free for the first year; you must pay 500 INR for the second year. Also, the account holder who wishes to close their account must pay 150 INR.

If they choose to reactivate it, the charges will be 100 INR. Also, the dematerialization charges are 18 for every certificate. The trade and call charges are 20 INR for every trade.

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Nuvama Demat Account Offers

Free Account Opening


Free AMC


Free Brokerage


Free Research Reports


Free Trading calls


Referral Offers

Upto Rs.1,000 per referral

Nuvama Demat Account Opening Process – Step-by-Step

The broker allows users to open a Demat account online and offline. We have listed both procedures below. You can look at them and choose the feasible one for you.

The documents required will be the same for both types. Let’s have a look at Nuvama demat account opening procedures in detail.

How to open a Demat Account in Nuvama? – Online Process

To open a demat account through an online procedure, you do not need to worry. Your account will be verified on the same day.

Here is a detailed guide on how to open your Demat account with Nuvama.

  1. Start with locating an “open a demat account” button at the end of the same web page.
  2. Click the tab, and a form will open before you. Fill in your details.
  3. You will receive a call shortly from the company executive, and they will guide you on further procedures.
  4. They will guide you and provide you with the list of documents that you need to submit online, along with the duly filled-out account opening form.
  5. Upon submission, they will check all the details and send a confirmation email with the details.

How to Open a Nuvama Demat Account? – Offline Process

We are listing here the detailed guide about how to open a demat account with Nuvama.

  1. To start, reach out to the Nuvama branch near your location.
  2. Now, you can interact with the executive and ask for the demat account opening form.
  3. Please complete and submit it along with the required KYC document.
  4. The in-person verification will be completed now.
  5. Once you are verified, you can sign the agreement.

Within 4-5 days, you will receive a notification from the branch that your account has been opened.

Eligibility Criteria to Open Nuvama Account




18+ Years

Active Bank Account


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Documents required to Open Nuvama Account

PAN Card Copy


Identity Proof Copy

Any One (PAN Card, Aadhaar Card, Voter ID Card, Driving License, Passport)

Address Proof Copy

Any One (Aadhaar Card, Voter ID Card, Driving License, Passport)

Bank Account Proof Copy

Any One (Cancelled Cheque, 3 Months Bank Statement, Bank Passbook)

Copy of Income Proof for F&O

Any One (IT Return Certificate, Net Worth Certificate, Salary Slip, 6 Month Bank Statement)

Passport Size Photo


Signature on White Paper


IPV (In-person Verification)


Certain documents are required to open a Nuvama account. Here are the documents you need to submit.

  • Submitting your PAN card is compulsory.
  • You can bring proof of identity like an Aadhar card, passport, driving license, etc.
  • The user can also submit any documents for proof of address. The papers can be Aadhar cards, passports, driver’s licenses, etc.
  • Income proofs like salary slips, income tax statements, etc must be submitted.
  • Passport-size photographs.

How to Close Nuvama Demat Account?

Do you know how to close your Nuvama demat account, the client must follow the detailed procedure listed below:

  1. The client must fill out the account closure form.
  2. They must mention their ID and the depository participant ID.
  3. Also, the KYC details like address and name should match up with the details that were provided in the
  4. The reason why you want to close your demat account needs to be mentioned clearly.
  5. Ensure there should be no dues left along with untraded securities.
  6. You should submit all the self-attested identity proof copies to the branch.

Nuvama Demat Account Review – Conclusion

The above review will help you open your Nuavama demat account. They have received more than 8 ratings in all the sections from Finec.

Working with Nuvama is one of the best as they are reasonable and provide quality services to their clients.

Opening and closing a demat account with them is effortless. Free research reports are also provided to keep the team’s morale high.

The reports help in self-evaluation. Undoubtedly, the broking house is easy to notice if you look forward to opening your demat account.

FAQs on Nuvama Demat Account Review

Here is the list related to the Nuvama Demat account.

How to create a Demat Account in Nuvama?

You can open this demat account both online and offline. For online, you can hit the tab at the bottom of the page named “open your demat account”.

And follow the onscreen instructions. It will take a little time to open your account online. But if you want an offline procedure, you must visit one of the branches.

How to delete a Nuvama Account?

To delete or close your account, you had to look for the form for account closing online or on your visit to the branch. Fill it up and submit it with all the KYC documents.

What is AMC in Nuvama?

The AMC is free for the first year. The Demat account holder must start paying 500 INR from the second year.

What are Nuvama Account Opening Fees?

The broker doesn’t charge any money for account opening; it helps them reach out to new clients.

How to find a demat account number in Nuvama?

Nuvama works with NSDL and CDSL to offer the Demat account facility to the users.

If the account gets registered with CDSL, it will be a 16-digit account number; for NSDL, it will be a 14-digit demat account number. Let’s look at finding the Demat account number.

  • Start with logging into your demat account from the website.
  • Reach out to the photo and hit the “see profile” button.
  • Now you can scroll down the webpage and look for the section named Bank, Demat, & Trading Accounts”.
  • You will find the demat account number here.

How to get a Statement of Demat Holdings in Nuvama?

The account statement is available in the Nuvama app itself. You can reach out to the profile section, and there will be a tab for downloading statements.

Hit it, and your system will download and save the statement.

What documents are required to open a demat account in Nuvama?

The documents needed to open a Demat account are the identity, address, and income proofs. Submit these documents online or offline to open your account in Nuvama.

How long does opening a Demat Account in Nuvama take?

This account, is easy & quick to open, in case of online, it requires only 1 day. For offline procedures, confirmation will take about 4-5 days.

How to change your bank account in Nuvama?

Updating your bank account information in Nuvama involves a manual procedure.

You must download a completed PDF form, print it, sign it, attach the necessary documents, and then send the package to the office.

Alternatively, you can visit a local branch to submit a request for changing your bank account details.

Here are the steps to change your bank account in Nuvama.

  1. Log in to the Nuvama website or mobile app.
  2. Click on the ‘Profile Image’ in the top right corner.
  3. Select the ‘See Profile’ link.
  4. Scroll to the ‘Your Bank, Demat & Trading Accounts’ section.
  5. Click on the ‘Change Bank Account’ link.
  6. Enter the required details such as ‘Account Number, Bank Name, IFSC Code, and MICR’.
  7. Click the ‘Update Bank’ button to submit your request.
  8. Download the pre-filled PDF form.
  9. Print and sign the form.
  10. Send the completed form along with supporting documents to the Nuvama office.

How to transfer shares from one Demat Account to Nuvama Demat?

Submit a copy of the DIS to the branch, ensuring that you affix your signature. After a brief review, they transfer it to the depository to fulfil the transfer request.


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