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What is a Demat Account?
A demat account is one of the basic requirements to trade online and to convert physical shares into the dematerialized format. It facilitates in document free trade and transfer transactions. It essentially works on similar lines of a bank account. It holds the financial statements and certificates of the holder’s purchases of shares, bonds, government securities, mutual funds, and exchange-traded funds (ETFs).Open Account
How Demat Account works?
Is an organization that provides financial services, holds securities in electronic format and assists trading. One of its primary functions is to transfer the ownership of shares from one investor to another. The National Securities Depositories Limited (NSDL) and the Central Depository Services Limited (CDSL) are the two depositories in India.
Depository Participants (DPs)
Are registered intermediaries between the investors and the depositories. DPs provide access to the central depositories, offer demat services and facilitates trading platform. Karvy Stock Broking is one such depository participant offering demat services and much more.
Unique Demat Account
Each demat account has a unique identification number (unique Id). Trades take place only when such unique Ids are provided. Once you open demat account, you will receive a unique id. This unique Id helps us coordinate with the exchange, depository and companies to identify your account to debit/credit shares based on your trade requests.
Continue reading to know how to open demat account online.
Benefits of Demat Account
Easy Access and monitoring
Demat accounts are completely online, implying it can be easily accessed online from anywhere at any time. It also facilitates easy monitoring of the holdings.
Demat accounts have a two-factor authentication (2FA) and are safer than physical shareholding which includes the risk of theft, loss or damage.
Trading of physical shared involved additional costs of stamp duty, handling charges, etc. which are not applicable for demat accounts.
Since all procedures are electronic, they are less time-consuming and more convenient. One can easily buy, sell and transfer funds and securities with just a few clicks.
Bonus issues, right shares, or stock split offered by companies are automatically updated in the demat accounts and dividends, refunds, or interest are also directly available to the demat account holder.
Demat account organizes all securities in one place as it is not just for shares, it can also hold other securities and investments.
ADVANTAGES OF DEMAT ACCOUNT
OPENING WITH KARVY ONLINE
Karvy Stock Broking, the broking arm of Karvy Group, has a rich experience of over 20 years in the industry. One can look forward to open Demat account with us to avail the following benefits of demat account:
Cutting-edge technology and platforms to support trade through browsers, desktop application and mobile application.
Best of class research in form of Daily, Weekly, Monthly and Quarterly reports in addition to seasonal and thematic reports.
Award-winning performance and customer services
One of top 10 Broking Houses in India
One of the largest Retail Brokers with a presence in 1,100+ locations
10 Lakh Broking customers and 25,000+ daily trading clients
Advisory and Support Desk services for assisted trading
Extended research expert assistance in query resolution
How to open a DEMAT Account
Online with Karvy?
KSBL is a depository participant – the intermediary between CDSL and NSDL, and you. It is very easy to open a demat account with Karvy. Here are the key things that you require:
Proof of identity
(Driving Licence, Voter's Id, Aadhar Card)
Proof of address
(Passport, Driving Licence, Voter's Id, Aadhar Card)
Passport size Photographs
Copy of PAN card
Invest and Trade through our advanced
Technology-driven Trading Platforms
Mobile Trading App KarvyOnline App
All new trading experience in your hand. With KarvyOnline Mobile Trading App, you can execute trades on the move as well
Karvy Online Web or Xpress platform is as convenient as Trading workstation (EXE). Now you can place orders, configure market watch, view order, trade and intraday book at a go.
+How and where can I check my Demat Account Holdings?
+What documents are required to open a Demat Account?
To open a demat account with us online you need a mobile linked aadhaar card, active mobile number, pan card, digital signature, canceled personalized cheque and access to the internet.
+If I have forgotten my password, what should I do?
You can easily reset your password by submitting your Client Code/User ID, Email address and PAN number on our mobile app, NEST application or https://trade.karvyonline.com/KARVY/Trade/ForgotPassword.jsp.
+What are the charges for opening Demat Account?
+How to operate my online Demat account?
You can operate your demat account using our mobile app, NEST application or https://trade.karvyonline.com/KARVY/Login/indexauth.jsp. To understand our trading platforms betterbook a demo now .
+What are the major objectives of a Demat account?
The main objective of a demat account is to safely keep all securities in one place and facilitate easy trade and transfer of the same.
+What if I already have a Demat account with another depository participant?
You can open a trading account with us and link it to your existing demat account with other depository participants. Alternately, you can open a new trading and demat account with us, transfer your securities and funds to the new account and close the older account.
+Things to check before Opening Demat Account
Before opening a demat account one should always check the brokerage charges, annual maintenance charges, any other charges if applicable, available technology and trading platforms and other supporting value-added features and customer services.
+Various Types of Demat Account
At Karvy, we offer customized solutions to meet every investor’s unique requirements. You can opt for only demat or only trading account, demat and trading account with access to trading equity, commodity, currencies, mutual funds and other exchange-traded securities.