Demat Account
All-In-One Demat
What is a Demat Account?
Demat Account facilitates the holding of shares and securities in electronic format. A Demat Account holds all the investments of an individual whether shares, ETFs, mutual funds, etc in one place. Initially, opening a Demat Account was a time-consuming process, but with Angel One, it is easy and hassle-free. Open a free Demat Account with Angel One today and enjoy a wide range of benefits.
Types of Demat account
At the time of account opening, an investor needs to select an account type that suits their profile. The most common is the Regular Demat account. Any Indian can open a regular Demat account within a few minutes through an online account opening process.
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1. Regular Demat Account
This is only for Indian citizens, who reside in India.
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2. Repatriable Demat Account
This type of Demat account is for Non-Resident Indians (NRI). Once a customer becomes NRI, they need to close their regular Demat account and open a Non-Resident Ordinary (NRO) Demat account along with a Non-Resident External bank account, which is a must for Non-Resident Indians.
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3. Non-Repatriable Demat Account
This is a Demat account for NRIs, however, the funds cannot be transferred abroad through this account.
Benefits of a Demat Account
There are various benefits of opening a Demat Account and they are as follows:
No paper certificates:
Prior to the existence of Demat Accounts, share used to exist as physical paper certificates. Once you purchased shares, you had to store several paper certificates for the same. Such copies were vulnerable to loss and damage, and also come attached with lengthy transfer processes. Demat Account turned all of it electronic, saving you much hassle.
Ease of Storage:
With a Demat Account you can store as many shares as you need to. This way, you can trade in volumes and keep track of the shares in your account. You can also rely on your Demat Account to execute quick transfer of shares.
Variety of Instruments:
Apart from stock market shares, you can also use your Demat Account to hold multiple assets including mutual funds, Exchange Traded Funds (ETFs), government securities, etc. Thus, with a Demat Account, you can approach your investment plans more holistically and easily build a diverse portfolio.
Easy Access:
Accessing your Demat Account is super easy. You can do so with the help of a smartphone or laptop and manage your investments from anywhere, at any time. A Demat Account truly makes investing for a financially secure future more easy and accessible than it has ever been before.
Nomination:
A Demat Account also comes with a nomination facility. The process of nomination is to be followed as has been prescribed by the depository. In case the investor passes away, the appointed nominee receives the shareholding in the account. This feature enables you to make plans for future eventualities and avoid legal disputes.
Documents Required for Demat Account Opening:
PAN Card: It’s a mandatory document to open a Demat account. Ensure the picture and signature are clearly visible.
Photo: A passport size photograph
eSignature: A running signature on a white background paper
Address Proof: Any one of these documents - Voter ID, Driving License, Aadhar Card, Passport, Utility Bill (not more than 3 months old) or last 3 months bank statement
Bank Proof: Anyone these documents - Cancelled cheque, passbook, bank statement of 6 months. Ensure clear visibility of IFSC code and bank a/c number
Income Proof: This is required only when you want to trade in Futures & Options. You can provide any one of these documents – Bank statements for 6 months, Net-worth certificate, 3-months’ Salary slips, ITR statement, Demat holding statement or Holding report with Demat Account Opening Fees and Charges. With Bajaj Financial Secures Limited, open free Demat Account and get one of the lowest brokerage rates with multiple unique offerings.
