Starting from scratch and have no one to guide you ?? Or are you in the urge to refer and guide someone who is new to Stock Marketing ?? It is fine to be on this page. Because if you aren’t pretty much sure about starting something new, never to walk for the same until you are good to go. Besides we are here to guide you from zero. Hence starting with what is Demat Account. Let us first introduce you to the full form of the Demat Account. It is Dematerialised Account.
In the early days, people used to have hard copies for their purchase and sell of the shares and securities. However, over a period of time, with the lack of security, fraud started knocking at the doors of investors. Therefore, discussing this situation and working on with the fast-moving era, the digital way of trading was commenced which is now known as Demat Account.
You can also relate your Demat Account to your normal bank account for better understanding perspectives. You deal with the money in your bank account that debits and credits; wherein the respective transactions are reflected in your ledger statements. Similarly, you deal with the shares and other invested securities in your Demat account electronically instead of money.
Covering up the comprehensive area of your investment. From government securities to exchange-traded funds, and from shares to bonds and mutual funds; a Demat or Dematerialised account delivers you with the ultimate quality of depository service along with assuring you with the safety of your securities and investments.
The conversion of your physical shares and securities certificates into electronic form is known as Dematerialisation. Moreover, the main motive to follow dematerialization is that investors can smoothly eliminate the jeopardy of damaging its physical certificates and can easily deal with its current holdings from any corner of the world.
Post going through the above points, you might be left with the question of What Is the Use of Demat Account ?? Or The Importance Of Demat Account. So Halt, here it is...
With the conversion of the physical shares to the electronic ones, the Demat Account is eligible to hold on your securities and shares for you safely in an electronic manner. It outthrows the risk of loss, theft, froggery, and damage to your physical certificates. Moreover, rendering the eloquent trading services of buying, selling, and storing shares in everyone’s individual account or corporate’s non-individual account, this platform is serving easy trading for the investors.
Having a Demat account will transfer your securities in no time with one go. The moment your transaction is approved, you have gained, sold, or squared off your shares or securities from your Demat Account. Besides allowing you to have quick access through desktop and smartphones, your Demat account tends to automatically reflect the stock bonuses and mergers too if any.
Furthermore, logging into your account through the website of your Demat account broker, you can easily access your Demat account information. Hence you need not manually step into the Depository. Additionally, you are served with the reduced cost of your transactions through the Demat account.
Basically, there are three types of Demat Account one has to be known to...
-- Regular Demat Account
-- Repatriable Demat Account
-- Non-Repatriable Demat Account
When you begin with something new in any journey of your life, remember this, you need to research for the same at your fullest. One cannot blindly fall for out of the box things. You have to be known for the facts regarding which Demat account suits you well. Therefore, guiding you with the precise information and accurate tips, below are the meanings for the above listed three accounts.
-- Regular Demat Account
If you are staying in India and are a resident of the country, then this regular Demat account is an ideal match for you. The account is feasible for investors who tend to hold or transact for the shares. However, if you are good enough playing only with the futures and options, then there is no requirement for the regular Demat account too.
The reason being, shares are going to stay in the account for a longer period of time, whereas, futures and options are traded within the expiry dates. Moreover, tagged under the regular Demat Account.
Individuals who are tagged as non-residence of India, the Repatriable Demat Account is stamped for them. Additionally, they also require a Non-resident External (NRE) bank account to connect their Repatriable Demat Account and move their funds abroad. Moreover, if you have been a resident of India previously and have now converted to NRI, then you need to terminate your ongoing account and re-open as an NRI by either selling off your shares or transferring it with the new limitations and guidelines.
NRI’s again being the owner of this Non-Repatriable Demat Account, but the only difference is the funds aren’t accessed to move abroad. One must have its NRO bank account associated with its Non-Repatriable Demat Account.
Since Demat Accounts are electronically opened and meant for transacting digitally, you can manipulate your account through any source like smartphone, computer, or any other smart device.
Instead of physically submitting the instruction slip, the Central Depository Services Limited (CDSL) has permitted the investors to send the instruction slips electronically. This is not only the most convenient knack for transacting but it also reduces time-consumed.
You being a Demat account holder will absolutely work as a stress-free task for you when there are announcements for additional refunds, interest, or dividends for the investors. The transactions will by default be created in your account.
When you are out of securities in your Demat Account or you tend to not opt for trading except for your current securities in your account, you can freeze your Demat account to prevent unexpected credit or debit transactions.
While investing in the stock market through your Demat account in India, one can easily transfer their holdings and get their receipts or slips electronically.
The investors are offered credit facilities against the securities they hold in their accounts. This can be further kept as collateral to your lender to let you exceed the credit limit.
Having your securities in your Demat Account will let you hold your securities safely. This will further prevent loss, unintentional damage, or theft. Moreover, it plays a vital role in supporting you by safeguarding accurate records of your securities and transactions.
Earlier, with the physical certificates of your holdings, the dealing with the odd lots or single securities seems to be hectic. However, with the introduction of Demat Account, everything seems to be convenient and possible.
When trading in terms of electronic securities, the transaction eases by preventing a lot of time and charges consumption. With the inclusive of stamp charges following other additional charges, the completion of one transaction concludes utilizing more time.
Lakshmishree Broking is prominent for offering its clients with customized facilities and guiding them with personalized suggestions. Lakshmishree Group is also a corporate member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE), along with the two leading Commodity Exchanges of the country i.e NCDEX and MCX. Additionally, Lakshmishree Broking is also registered Depository Participant with CDSL.
Here are the benefits of opening a Demat Account with Lakshmishree Broking.
-- Here at Lakshmishree Demat Account, we offer free services for any Dealing Desk Support.
-- We charge Less Brokerage as compared to the market.
-- We believe in the Lowest One Time Charge for AMC for the Accounts registered with us.
-- Rendering one-on-one conversation with our clients, we suggest them personally if needed.
-- There are No Terminal Charges Incurred.
-- You can access Lakshmishree Demat Account through the Shree Varahi application on any smart device or you can access our Web Version for clear understanding.
-- Free Guidance Calls for to support you in the technical and fundamental segments for research purposes.
-- We have advanced features in our Shree Varahi application that highly supports you technically.
-- We allow our investors to trade even Mutual Funds through our Demat Account.
Are you trading in the share market for the first time ?? Deciding for the best Demat Account in India would be the most vital step one needs to look on. Everything is being digital these days. However, here at Lakshmishree Investment & Securities Pvt Ltd, we have comforted you with the procedure of opening a Demat account for you. If you have your phone number linked to your aadhar number, you can quickly opt to open Demat account online. You might even go for online account opening through biometric based on your aadhar number. Whereas, if you do not have your phone number linked to your aadhar number, we still accept your Demat account opening forms but physically. Therefore, there are two ways out to open Demat account in India…
If your mobile number is not linked to your aadhar card, you may ring us on 02243431818 to know more about the same.
If you own all the necessary documents, then opening an online account is just an application download away. Yes, we have come up with an application called “LAKSHMISHREE eKYC” to ease your e-KYC process and complete your authentication at one go.
Here are the required documents that have to be handy while you start with your KYC process at Shree Lakshmishree Broking.
Note:- Every document has to be converted into pdf or jpg format...
-- PAN Card
-- Aadhar Card
-- A Cancelled Cheque with the name pre-printed on it. OR The copy of your Bank Passbook with the bank details on it.
-- Additional, Six months Bank Passbook/Statement
-- If your current and permanent address does not match, then keep a scanned copy proving your correspondence address.
-- Go to the home page of Shree Lakshmishree Website.
-- You Can see Open An Account to the Right Side of the Home Page.
-- Register yourself to generate One Time Password (OTP) by verifying your email and phone number.
-- Enter your OTP, this will take you to the start of your e-KYC process.
-- Input the PAN number for verification through NSDL. Followed by entering your Date Of Birth.
-- You are left with picking either of options; Fetch data from KRA OR Fill the form manually. Select any of it and click NEXT to proceed.
-- You further get a screen of entering your personal details. Fill in the required specifications and click NEXT.
Note:- The details you enter in the online KYC have to be identical as per your original documents.
-- You may choose the segments of the exchange you wish to open your accounts in.
-- The next page would be to enter your Nominee details. Type in the same and proceed ahead.
-- Type in your bank account details and Proceed.
-- Income details are to be mentioned now, following the RM/AP code if any of Lakshmishree assistants has helped you throughout your account opening.
-- Fill in the Tariff Sheet and choose the default option to set default brokerage. You may also connect with your RM/AP or our KYC team (9235395865 / kyc@lakshmishree.com) for further clarification in regards of tariff/brokerage.
You Are Done With Your Account Opening and Verification
Check Our youtube video for the Demat account opening.
Post receiving an email confirming your account opening. Further, you will either get an email asking to perform In-person verification (IPV) or you will receive a call from Lakshmishree.
You can alternatively take initiative yourself by typing kyc.lakshmishree.com and entering your mobile number, further clicking NEXT for completing your IPV.
Note:- It is highly efficient for a person to go through IPV before opening a Trading or Demat account since it is a verification set as per the SEBI Circular.
-- Kindly be handy with your original ID and Address proofs since the camera would be recording you for 60 seconds.
-- View and ensure if the video is visible. However, if not, then click on the RESET button. OR else Submit it.
-- You need to further submit your e-signature by choosing the e-sign option.
-- Displaying the screen with the two options again; you can either opt for Sign by OTP or Sign By Biometric.
-- Later enter your UID number and click on send OTP to Proceed.
-- Enter your OTP sent by NSDL to your registered email or mobile.
And you are all done with opening your Demat Account. If you still come across any obstacles while learning to open a Demat Account by yourself, you may telephone us on 022-43431818. And our team would be there to guide you.
How to invest in Share Market ??
