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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.
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.
For Individuals, documents required include:
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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