A dematerialized account, which is more popularly knows as demat account, allows you to hold electronic shares. This keeps you from the worries and hassles associated with managing shares in their paper form. With the rise of companies that provide trading and demat account services, it is now easier than ever to make money through strategic investment in the stock market via electronic shares held via your demat account.
The depository participant or the DP will at regular intervals provide you with the updated account statements that reflect the share balance as well as the transactions during a particular period in your demat account. Follow the below steps to have your demat account opened:
- Choose either a broker or a banking and finances institute according to your needs and convenience.
- With the various fees charged for Depository Participant services that range from account opening fee, annual maintenance fee, and transaction fee, it is best that you pick a DP that can waive of the initial account opening fee.
- Keep the copies of the necessary documents with yourself.
- On the submission of all the documents, you will be provided with a unique BO ID.
- You can now collect with the DI slips from your Depository Partner
The opening of a demat account with a fast track financial services provider is easy once you have selected a DP and have all your necessary documents ready. With this financial services advice, you will have your demat account running in no time. Have a happy time investing!
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