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What is a Demat Account?
A demat account or dematerialised account is an account which holds shares in the electronic form. Earlier, investors used to take physical possession of shares. This practice was discontinued after the idea of having a demat account was introduced. In order to initiate any transaction, an investor has to quote his demat account number, after which electronic settlements of trade take place. One cannot start trading without a demat account.
What are the features of a Demat Account?
Listed below are the important features of a demat account:
Safety: Your shares and debentures are safe in the demat account as chances of thefts, loss or damage are eliminated as securities are held in an electronic form.
Costs: Lower transaction costs
Accessibility: Buy/sell securities from a computer, cellphone, ipad and other smart devices anytime, anywhere.
Speed: Since buying and selling take place online, the process is much faster as compared to availing securities in the physical form.
Convenience: Holding physical shares can sometimes become a tedious job. With demat account; it is easy to hold shares. Also, it is much convenient for an investor to track his investments through a single account.
How to open a Demat Account with 5paisa?
With 5paisa, one can open an account in 3 easy steps.
Step 1: Upload your documents
Step 2: Make payment
Step 3: E-sign your form
What all documents required to open an A/c with 5paisa?
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For Individual A/c opening:
In order to open an A/c with 5paisa, below documents are required:
PAN No*
Aadhaar Card
Address Proof
Cancelled Cheque
Income Proof (For Derivatives & Currency segments)
Specimen Signature (on blank white paper)
*If PAN No. or KRA is not verified online then customer needs to provide PAN Card Copy.
To know about document list for non individual, please send us an email at support@5paisa.com
What are the charges for opening a demat account?
5paisa does not charge any brokerage on trading. We charge a flat fee of Rs.10/- per executed order, for trades in Equity, F&O & Currency. Statutory charges would be extra. No other hidden charges. There are no upfront charges.
Our account processing charge is Rs 650 for a Dement opening. But now free.
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