Even though people are aware of a demat account in India, they usually have a lot of questions about how it works. Here, we’ll clear up any demat account information you might need.
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Even though people are aware of a demat account in India, they usually have a lot of questions about how it works. Here, we’ll clear up any demat account information you might need.
A demat account is like a bank account for your shares and stocks in which the shares/stocks are held in an electronic format. Demat accounts make it much easier to own and trade stocks, shares, mutual funds, ETFs by eliminating paperwork. Note that a Demat account and trading account are not the same. A trading account is used to buy and sell shares while a Demat account is used to hold them. Similar to a bank account, where money is debited and credited, shares are debited and credited from a Demat account.
*A Depository Participant (DP) is a link between the account holder and a depository such as the CDSL (Central Depository Services Limited) or the NSDL (National Securities Depository Limited). A DP can be a bank, a financial institution, brokerage house or similar entity. To be eligible, it must be registered with SEBI.
Here are the documents required for opening a Demat Account:
There are some details you should keep an eye on, and make sure to collect these from your DP:
These are the basics you need to know about Demat accounts. Armed with the basics, it will be easy for you to open your Demat account with a trusted financial partner like IIFL Capital Demat Account App and begin trading in shares and securities.
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