WHAT IS A DEMAT ACCOUNT AND WHY DO I NEED ONE?

Demat is a short form name for Dematerialised Account. It is essential for anyone wishing to trade in stocks, shares, bonds, commodities etc in India to have one. The demat account is used for storing digital records of all the securities you hold and the transactions you make. The demat account system is very advantageous when compared to the old-fashioned way of everything being on paper. Surely everybody has experience of losing an important paper at some time in their life. The circumstances surrounding how it happened will vary from person to person, perhaps by a flood, fire, theft or carelessness. Whatever the circumstance, the loss of an important paper is always stressful and the replacement of the paper is very often time-consuming, difficult, expensive if indeed it is possible at all. Demat accounts takes away this stress, speeds up the process as you do not have to wait for papers to arrive at your address, and removes the possibility of unscrupulous brokers passing off fake or forged documents. It also gives the added advantage that the trader can see his held securities and trade with them from wherever he happens to be without having to visit a broker branch or be at a specified address to receive the paperwork.

best demat account in india

best demat account in india

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WHAT IS THE BEST DEMAT ACCOUNT IN INDIA?

There is no straight answer to this question as everybody has differing requirements, expectations and priorities. Best for one person will not be the same for another. In order to decide which one would be best for the type of trading activity you wish to involve yourself in, you must consider the fees associated with various types of demat accounts offered by various different companies. For example you can often see ‘full service’ brokers such as HDFC, Axis, Kotak etc. advertising that their demat accounts have no maintenance fee for the first year. Think carefully about where you hope you will be after a year elapses, and whether you could realistically afford the maintenance fees that will be applied thereafter.

Some brokers may not charge any maintenance fee, but may charge you a hefty set-up fee for opening the account in the first instance. Consider whether you can afford such an early outlay or whether it is justified for you when there are other alternatives available.

Some demat accounts have neither of the above charges but charge a fee per transaction. This could be a set fee for any transaction or could be a different value for buying as opposed to selling.

HOW TO OPEN A FREE DEMAT ACCOUNT IN INDIA

500 Per Crore are one such discount broker who can offer you a completely free demat account. When we say free, we mean free for a lifetime. That’s no set-up fee and no maintenance fee. All you will need to provide are some forms of identification, a duly filled and signed form to satisfy the KYC (Know Your Customer) guidelines laid down by the Reserve Bank of India, plus passport sized photographs. Proof of identity will need to be seen in the form of either a PAN card, Driving License, Voter ID or Passport. Proof of address can be supplied in the form of Passport, Voter ID, Driving License, Bank statements, Utility Bills which state the address, or a Registered Lease Agreement if you are staying on rent. The listed proofs can be supplied in the form of self-attested Xerox copies delivered to any branch in person or by post, or in digital, scanned form via email.

OPENING A DEMAT ACCOUNT ONLINE WITH 500 PER CRORE

In addition to the manual procedure described above, 500 Per Crore is able to offer an online option for opening your demat account. This option will only be available to applicants who hold an Aadhar card which is mapped to their bank account. Such applicants may apply through an online form, taking care to provide the same mobile telephone number in the form that is linked to the Aadhar card. An OTP will be sent to the mobile number which will activate the process. If this is done correctly, the only other documents required are scanned copied of PAN card and a cancelled personalised cheque, which can be submitted in digital files such as PDF. The final verification will come in the form of a video conferencing call or a face-to-face meeting in a convenient branch. Does that sound easy? What is there to hold you back? Why not open your free demat trading account in India 2020?

LOWEST BROKERAGE IN THE INDUSTRY, NO HIDDEN CHARGES

Trading Terminal at free of cost (ODIN, NEST, Web Trading, Mobile Trading)
Zero Deposit for Account Opening
Online Fund Transfer and Payment on the same day
Free Application Form
Free Training Program
Free Online Trading Software
Free 24*7 Back office Support
Free Intraday Tips on Mobile Phone
Free Live Calls and Follow Ups
Low Brokerage and High Exposure
No Hidden Fees, No AMC charges

ADVANTAGES

Online / NEFT Transfer for withdrawals and deposit
Withdrawals will be credited on Same Day.
Lowest Brokerage to Earn Maximum Benefits
Electronic Contract note by Email
Free Personalised Technical Desk
Weekly Free Training Programs
Call & Trade for Offline Clients
Special Offer for HNI Clients
Pay-out on the same day