What is Demat Account?
Demat account is an account where you can hold your shares and securities in electronic format. Before introduction of demat account, physical shares certificates are issued to share holders.
Demat accounts are maintained by depositories. There are two depositories in India - NSDL(National Securities Depository Limited) and CDSL(Central Depository Services Limited).
Before I tell you How to open Account in Paytm Money, let's discuss some benefits of using paytm money.
Benefits of using Paytm Money for Demat and Trading Account:
1.You can trade 10 Rs/Order in Intraday and Future and Option.
2.You have almost zero delivery brokerage with paytm money demat and trading account.
3.It charge only 10 Rs/Stock on Margin Pledge.
Steps to Open Demat Account in Paytm Money:
1.Download Paytm Money App in Play Store or App Store.
2.Add your PAN Card or Aadhar card details.
3.Add your Bank Account details for adding and withdrawal of funds.
4.Give E signiture on Account Opening Form.
5. Your account is opened successfully.
Who Can Open Demat Account?
- Any Residential or Non Residential Indian
- Demat account can be opened in the name of Minor
- Demat account can be opened jointly with maximum of 3 account holders.
Now let's discuss documents required for opening Demat and Trading Account in Paytm Money.
Documents Required For Opening Demat and Trading Account:
1.Proof of Identity: PAN Card, Aadhar Card, Passport, Voter ID, Driving License, Identity card issued by Central or State Government.
2.Proof of Address: Driving License, Voter ID, Ration Card, Passport, Utility Bill.
3.Proof of Income: ITR, Salary Slip or Form 16, Bank Statement.
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