What Is A Demat Account?

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What is a demat account?
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Demat account basics

• A dematerialized (Demat) account is an account
  that lets you hold your investment portfolio
  electronically.
• Just like a Savings account is used to hold your
  money, a Demat account is used to hold your
  shares.
• Today, as an investor, you cannot trade in the
  stock market without a demat account.

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Benefits of a demat account

1. Easy to Hold Physical certificates have a risk
   of damage. With a demat account, you dont have
   to worry about the wear and tear.
2. Immediate Updates With every transaction you
   make, your portfolio is updated. So, with just a
   quick glance at your online account, you can have
   a fair idea about all your holdings.
3. Lower Costs Stamp duty was a major cost when
   physical share certificates were used. That cost
   has been eliminated with the help of a demat
   account.

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How to open a demat account

1. Enter a valid e-mail ID on the website of the
   broker of your choice.
2. Provide your PAN number and DOB for KRA
   verification.
3. Enter your personal details like name, address
   and mobile number.
4. Enter your bank details.
5. Provide additional information like occupation,
   education etc.
6. Confirm your brokerage plan.
7. Upload your documents via e-mail or whatever
   avenue the broker of your choice is offering
8. Wait for the broker to get in touch with you for
   an in-person verification.

Open an online demat account today!
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