Like a
Bank Account that keeps your physical money safe in the form of digital
currency for easier transactions, opening a free DEMAT Account acts as a safe
for the shares/stocks that you've bought. Online free DEMAT Account keeps your
shares and stocks in a digital format, thus enabling you to keep track of the
price movement.
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WHAT IS DEMAT ACCOUNT?
Like a Bank Account that keeps your physical money safe in the form of digital currency for easier transactions, opening a free DEMAT Account acts as a safe for the shares/stocks that you've bought. Online free DEMAT Account keeps your shares and stocks in a digital format, thus enabling you to keep track of the price movement.
Earlier, shares/stocks were kept in the form of physical receipts. This made it difficult for investors to keep hold of the receipts for a longer time. The advent of the DEMAT account thus made it easy for investors and traders to trade instantly and keep shares for as long as they desire. However, you need to have a trading account for the purpose of doing a sell transaction. Without a trading account you won't be able to sell the shares that you've brought and kept in the DEMAT Account. Opening a Demat Account comes with lots of benefits such as there is no hassle to keep hold of the physical receipts, it saves time and makes it easy for investors and traders to learn and track their portfolio 24 by 7.
With the use of advanced technology, it is now possible for individuals to open a two-in-one account, which can be understood by viewing the video alongside or reading the text below.
Before registering for a Free* Demat Account, remember
to keep the following documents handy:-
Step1 - Filling out
Personal Details: To begin with, you will have to register with your mobile
number and email address, and verify the same via OTP.
Step2 - Submitting
necessary documents: To open a free DEMAT Account, you will have to verify your
PAN Number, Aadhar Card details, Bank Account Number & IFSC Code with the
Broker.
Step3 - Completing E-KYC: To complete your E-KYC, you will have to fill in your personal details such as your income, your marital status, address, nominee, etc.
Step4 - E-sign Aadhar Validation: For the last step, you will have to e-verify your Aadhar. This can be done by receiving an OTP to your Aadhar registered mobile number or by uploading the ‘front’ and ‘back’ side photographs of your Aadhar card.On successful account opening, you will be communicated your User Id and Password via email.
What is a demat account and what are the types of demat account?
A Demat account is an account that holds financial securities in electronic form. In India, Demat accounts are maintained by two depository organisations, NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited).
There are 3 types of Demat account:
What are the benefits & uses of a demat account?
A Demat account helps keep your equity investments, your mutual fund units, bonds, and other financial assets safe and secure in an online electronic environment. With a Demat and trading account, you can not only invest in upcoming IPOs of companies but also start a mutual fund, digital gold and SIP as well.
Here’s a quick look at some of the other uses of a Demat account:
Who can open a demat account?
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