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What is a Demat Account? - Open a Demat Account in 3 Simple Steps
- 1. STEP 1. sms RUDRA to 56767 What is Demat account. The term DEMAT(Dematerialized Account) Account refers to a deposit made at an Indian financial institution that can be used for investing in shares of stocks and other financial assets. It is like a bank account and can be used to store securities stored in an elec- tronic form. Some Examples are: - Stocks - Mutual Funds - Bonds - IPO STEP 2. STEP 3. To open a DEMAT Account - Select the DP (Depositiory Participant) - Fill up the account opening form - Furnish proofs - Provide original PAN card STEP 4. Advantages of DEMAT - Reduction in papaerwork - Reduction in transaction cast - Automatic credit into demat accont of shares - No risk - No signature mismatch - Traction costs are usually lower DEMAT account Facts - you can open multiple DEMAT account. - Can have maximum 3 account holders - No changes in account holder names - Can have nil balance