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Why Open Demat Account with SMC?

Why Open Demat Account with SMC?
1
Free account opening

Free account opening worth ₹599

2
Free webinars

Free webinars worth ₹15000

3
Nil AMC

Nil AMC (1st Year) worth ₹399

4
Dedicated RM

Dedicated RM

How to Open Demat Account Online with SMC

01 SMC Global

Fill in Personal Details

02 SMC Global

Enter PAN & Bank Details

03 SMC Global

Upload Documents

04 SMC Global

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What is a Demat Account

A Demat account is primarily used to hold securities and shares. The idea was first introduced in 1996 as an alternative to physical share certificates. A Demat account not only makes trading stocks quick and easy but also eliminates all of the risks associated with holding a physical certificate. You can use a Demat account to store investments such as equity shares, ETFs, bonds, debt securities, mutual funds, or government issuances among other things. In India, it is mandatory for investors who want to invest in the stock market to have a Demat account.

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Types of Demat Account

Regular Account: A regular Demat account is for Indian residents who want to trade in shares alone and need storage for securities. Stocks are debited from your account when you sell them, and they're credited back when you buy them during trading. If you're trading in F&O contracts, then a regular Demat account isn't necessary because these contracts don't require any storage space.

Repatriable Demat Account: NRIs can also invest in the Indian equity markets, but they cannot use a regular Demat account to do so. To hold this type of investment, you need a repatriable Demat account and an NRE bank account. If you become an NRI and have equity investments in India, you will need to close your regular Demat accounts and transfer your holdings onto a Non-resident Demat account.

Non-Repatriable Demat Account: The Non-Repatriable Demat account is the second possible option for NRIs, but it does not allow them to transfer money abroad. Investors are required to link their NRO (Non-Resident Ordinary) savings account with the Demat account in order for effective operation.

Features of Demat Account

  • Physical securities carry a numerous risk of damage and theft. This risk is eliminated completely with a Demat account. Your certificates are electronically stored so there is no possibility of them being stolen or forged. You also eliminate the possibility of bad delivery or fake securities with a Demat account.
  • A Demat account eliminates all paperwork, which allows for faster transaction completion. This saves time which allows the investor to sell and buy more securities quicker and more efficiently.
  • Demat account gives you the flexibility to hold and track all your investments through a single account. You no longer need to open separate accounts for buying NCDs, tax-free bonds, etc. Most of your instruments can be held at one single place i.e. your demat account. It also makes it convenient to track the performance of your portfolio.
  • You can also use it to secure your savings and access bank loans via the securities in your demat account. You can use the securities as collateral to get a loan from your bank.

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Open A Demat Account FAQ’s

Open a Demat Account FAQ’s

For Individuals, documents required include:

  • PAN Card
  • Address Proof (Aadhaar Card preferred)
  • Proof of Bank Details
  • Income Proof (For derivatives & currency segment
  • Signature (on blank white paper)

An investor can open multiple demat accounts. However, they must link their PAN number with each demat account that they have opened.

You can now open a Demat Account online from the comforts of your office or home.

Yes, the Demat account opening is free of cost with a margin deposit of ₹5,000.

You do not need to maintain any minimum balance to keep your account active.

At some point of time your Demat account will be considered as a dormant Demat account (an inactive account). After that you won't be able to do any transactions from this account until you reactivate it.

If no transaction is done for a long period, a demat account can turn dormant.

NRIs can also open a Demat account. For that they need to have either NRE or NRO bank account.

Yes, a Demat account can be opened in single or joint names. A maximum of 3 names can be added in the joint Demat account.

Yes, nomination facility is available in demat account.

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