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- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:43 pm
Select your participant depository i.e. your bank, stockbroker like Zerodha, Fyers
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:43 pm
Fill up the required form along with necessary documents
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:43 pm
Submit the form, documents, and fees for account opening
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:43 pm
In Person Verification (IPV) will be done by depository participant
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:44 pm
You will be allocated a UIN number and other details of the demat account
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:44 pm
You require below documents for opening a demat account.
Identity proof
PAN card
Voter’s card
Passport
Driving License
Aadhaar card
Identity proof
PAN card
Voter’s card
Passport
Driving License
Aadhaar card
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:44 pm
Address proof
Passport
Driving license
Electricity bill
Ration card
Voter’s card
Residence telephone bill
Passport
Driving license
Electricity bill
Ration card
Voter’s card
Residence telephone bill
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:44 pm
You require below documents for opening a demat account.
Identity proof
PAN card
Voter’s card
Passport
Driving License
Aadhaar card
Identity proof
PAN card
Voter’s card
Passport
Driving License
Aadhaar card
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:45 pm
Do you know how many demat accounts you can have? What is the benefit of having a nominee in the demat account? There are many other such unknown facts which you should know.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:45 pm
We spend lots of time doing our personal finance planning but not spending enough time to check the tool we use for doing this planning.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:45 pm
The nominee facility of the demat account is the only financial instrument which can supersede the will of an individual.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:45 pm
The nominee facility of the demat account is the only financial instrument which can supersede the will of an individual.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:46 pm
while you are giving a nominee for your demat account, think twice before filling up the form and make sure your nominee and will should match to avoid any legal issues in the future.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:46 pm
The nominee details in the demat account are the legal beneficiary of the account no matter what you have declared in your will.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:46 pm
This is a unique feature of demat account as you will not find any such thing in your bank account.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:46 pm
For a bank account, the nominee is just a custodian, the legal beneficiary could be the person you have mentioned in your will.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:46 pm
You can freeze or lock your demat account as per your wish. If you think that there are chances of miss use of your demat account, you can opt for this facility of freezing your demat account.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:47 pm
What this will do is, your demat account will be locked so there will be no future transactions take place until you unlock this by giving a request to your demat account company.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:47 pm
This is also helpful if you are investing for a long-term say for 20 years and you don’t want to sell them before this period.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:47 pm
You can just get your demat account freeze for 20 years so there will be no chance of selling those securities before 20 years.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:47 pm
While doing this locking, you have an option to lock particular security or particular transaction like buying securities. What this will do is lock all the new buying of securities in the demat account but at the same time, you can sell the securities lying in your demat account.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:47 pm
You have to give freeze instruction to your broker as per your wish for getting your demat account freeze/lock for certain time frame. You can even set the locking expiry date so that the account will be freeze till that given data only. Once that date comes, your account will be automatically unfrozen.
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:48 pm
Another myth about the demat account is that you cannot have multiple demat accounts in your name
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:48 pm
Another myth about the demat account is that you cannot have multiple demat accounts in your name
- daksh007
- Posts : 11530
Join date : 2019-01-07
Re: How to open a Demat Account ?
Mon Jan 14, 2019 2:48 pm
This is wrong, you can have multiple demat accounts in your name with a different broker. You cannot have multiple demat accounts with the SAME broker.
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