SHAREKHAN DEMAT ACCOUNT

SHAREKHAN DEMAT ACCOUNT
Free
Opening Fee
750 INR
Annual Fee
FEATURES
  • Easy and convenient way to hold securities
  • Reduced paperwork for transfer of securities.
  • Reduced transaction cost
  • Traders can work from anywhere (e.g. even from home).
ELIGIBILITY
  • A PAN card is a necessity to get started with your online stock trading.
DOCUMENTS REQUIRED
  • Permanent account number PAN (compulsory)
  • Bank statement (last 3 months)
  • Proof of address

Demat Account

A demat account holds up all your securities and shares at one place in electronic format. It hold the shares that has been converted from physical to electronic form which makes it easy for the shareholders to do easy online trading.

Demat account helps the shareholder to convert all the shares into electronic form for seamless tracking and monitoring of the shares.

Types Of Demat Account

  • 1) Repatriable Account: This account holds up the funds that can be easily transferred abroad. The investments made through this account are maintained in the repatriable demat account.
  • 2) Non-repatriable Account: The funds that comes into this account are deposited in the Non Resident Ordinary Account (NRO). Money can be easily transferred from an NRE (Non Resident External) account to NRO account. Once the money is transferred to this account then it cannot be transferred back to NRE account.

Benefits Of Demat Account

  • 1) Managing physical certificate of funds and shares is a very tedious task. Demat account changes these shares into electronic documents that you can view anytime at one single point. It is easy to mange and go through each and every share at the same time.
  • 2) Physical shares cost additional expenses as handling charges, stamp duty and with demat account you get rid of all those charges.
  • 3) You can sale or purchase shares quickly as this saves time and effort. With paper free work, demat account offers lot of time for financial planning.
  • 4) You can transfer your holdings through a delivery instruction slip or receipt instruction slip for buying and selling of shares.
  • 5) Demat account is electronic so it can be easily accessed through mobile, computer or other smart devices making selling and buying easier.
  • 6) Demat account holders can freeze their accounts for a certain period that helps them in retaining the shares that exist and it also prevents the unexpected debit and credit into the demat account.

Things To Check Before Opening Demat Account

  • 1) Annual maintenance charges of the account, brokerage fees, transaction charges and additional charges on demat account.
  • 2) DP should be registered with SEBI
  • 3) There should not be any pending case against the broker or the brokerage firm
  • 4) Your broker should be able to provide you with additional services like market research, insight and analytics of your trading account.

How To Open A Demat Account?

  • 1) Select a depository participant after doing a research on various participants available.
  • 2) Fill an application form and submit all required documents required with the form like ID proof, address proof etc.
  • 3) Your KYC documents will be verified with the assigned DP and you have to pay the necessary fee related to opening up of demat account.
  • 4) Once your documents are verified and in place then your demat account is opened and you will be given a unique identification number for your account as well.

Documents Required To Open Demat Account

  • 1) Residence proof such as electricity bill, passport, driving license, Aadhar card
  • 2) Identity proof such as passport copy, driving license , Voters ID card, PAN card
  • 3) Passport size photographs