Procedure of Free Demat Account Opening
The first step in investing in stocks if you’re interested in the stock market is to open a Demat account. Any transaction in the share market requires a Demat account, regardless of your ultimate financial goal. This article describes how to create a trading and demat account.
A Demat account: what is it?
You can own shares of a corporation electronically by using demat accounts, also known as dematerialized accounts. Using a Demat account, you can hold dematerialized securities like equities, mutual funds, exchange-traded funds (ETFs), and bonds. Your shares are added to your Demat account when you make an order for a stock. Similarly, every time you sell shares, your Demat account gets deducted.
How can You open a trading and Demat account online?
According to SEBI data, between April 2020 and January 2021, the number of new Demat account additions reached an all-time high of 10.7 million. Furthermore, creating a Demat account has never been simpler, thanks to the development of technology. Follow these simple instructions to create a Demat account with Sharekhan.
- Open a Demat Account by visiting the sharekhan website.
- Type your phone number in the box provided and select “Open account Now.”
- A verification code will be sent to the same phone. press Apply Now button, after entering the code,
- Next, input the verification code delivered to your inbox and your email address.
- Type in your PAN number and birthdate, then select “Proceed.”
- Complete the Know Your Customer (KYC) process online.
- Finish the verification process. You’ll have to post a selfie right away for this.
- To finish the account opening process, e-sign the paperwork.
Using the sharekhan app, you may also establish a Demat account by following these four simple steps:
- Download the Sharekhan app from the Apple Store or Google Playstore.
- Select from the menu Open Demat Account
- Sharekhan will contact you and send an executive to help you create an account.
- Complete the KYC procedure and submit the necessary paperwork.
What paperwork is necessary to start a Demat account?
Proof of identity documents includes a voter’s ID, an Aadhaar card, a PAN card, a passport, or a driver’s licence. Proof of address documents have a ration card, utility bills, phone bills, property tax receipts, a passport, a bank passbook, or an Aadhaar card. Proof of income documents include a photocopy of an ITR, a recent pay stub, a bank account statement from the current bank, or
What to take into consideration while selecting the most acceptable Demat account for trading
1. Account Opening is Simple
When opening a Demat account, service providers are required by SEBI to follow a detailed procedure. They can, however, make some of the procedures for opening a Demat account simpler.
You can install the software that most brokers have for themselves. By conducting some research or reading reviews, you can determine which programme has the most acceptable user interface. Additionally, you may download many mobile applications from various DPs and pick the one that works best for you. A smooth, user-friendly account interface may be beneficial and practical.
3. Fees for creating an account
Demat accounts come with fees, such as Annual Maintenance Charges (AMC), costs for physical and duplicate statements, and dematerialization and rematerialization prices. Therefore, verifying the DP’s expenses is essential to ensure they are reasonable and consistent with industry norms.
You might contrast the prices with those of other companies that offer comparable services to understand better how the DP compares. Cost reductions are crucial, but they shouldn’t always come first. The DP must also offer you top-notch service, which is vital.
Join Sharekhan and create a Demat account.
You may use Sharekhan to set up a free demat account opening now that you understand how to open a Demat account. You won’t have to pay for a Demat account because there are no brokerage costs. It is the most significant free Demat account available because of its user-friendly UI and other features. Additionally, you will get frequent information on the newest investing prospects.