A Demat account holds and manages financial securities, such as shares, bonds, ETFs and mutual funds, in electronic form. It eliminates the need for physical certificates, reducing loss, theft, or damage risks. With a Demat account, you can smoothly buy, sell, and transfer securities online, making trading faster and more efficient. It also allows for direct credit of dividends, interest, and bonus.
Step 1: Visit the official website and navigate to the Demat account section.
Step 2: Choose the type of Demat account you want to open.
Step 3: Enter your personal details and provide your bank account number, IFSC code, and a cancelled cheque. If the penny drop fails, you need to upload bank proof manually.
Step 4: Submit scanned copies of your PAN card and Aadhaar card and a photograph of your signature on white paper.
Step 5: Complete the KYC verification process online using Aadhaar-based e-KYC or by submitting physical documents at the nearest branch.
Step 6: Use the Aadhaar-based OTP to e-sign the application form.
Step 7: You will receive an acknowledgement receipt with a reference number to track your application status.
Step 8: Once your application is processed and verified, you will get your Demat account details via email and SMS.
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Who needs a Demat Account?
Individuals investing in stocks, bonds, mutual funds, or other securities need a Demat account to store and manage their investments securely and efficiently.
What are the features & benefits of a Demat Account?
A Demat account provides a secure electronic method for storing securities, reducing the risks associated with theft or loss. It streamlines the process of transferring shares, lowers transaction expenses, and grants easy access to investments. Furthermore, it facilitates rapid receipt of corporate benefits such as dividends and interest and allows for obtaining loans against the securities.
What are the types of Demat Accounts?
Demat accounts can be classified into three main types: the Regular Demat Account intended for Indian residents; the Repatriable Demat Account, which allows NRIs to transfer funds abroad; and the Non-Repatriable Demat Account, which does not offer repatriation benefits for NRIs. Additionally, there is the Basic Services Demat Account (BSDA), aimed at small investors and featuring lower maintenance fees.
What is the minimum balance in a Demat Account?
A Demat account does not have a minimum balance requirement. As it stores securities such as stocks and bonds electronically, keeping a cash balance is unnecessary.
Can a Demat Account be transferred?
You can transfer shares but not a Demat account.
Is the nomination facility available in a Demat Account?
Yes, Demat accounts offer a nomination facility. This allows account holders to select a nominee who will inherit the holdings (shares/bonds) in the event of their death. You can easily set this up online or by completing a physical form.
What is HDFC SKY?
HDFC SKY is an all-in-one investment and discount service broker platform offered by HDFC Securities. It allows users to invest in various financial instruments such as mutual funds, stocks, IPOs, derivatives, currencies, and commodities.
What are the benefits of using HDFC SKY?
HDFC SKY, a discount broker services which provide research reports. Also, it offers several benefits, including flat brokerage fees of ₹20 per trade, access to multiple asset classes, a user-friendly interface, research reports, comprehensive investment resources, and portfolio management tools.
What types of investments can I make through HDFC SKY?
Through HDFC SKY, you can invest in mutual funds, stocks, ETFs, IPOs, futures and options, currencies, and commodities.
What is HDFC Bank InvestRight?
HDFC Bank InvestRight is a full-service broker platform that provides resources and tools to help investors make informed decisions. It offers personalised watchlists, market insights, and alerts to track investment opportunities.
How can I create a watchlist on InvestRight?
To create a watchlist on InvestRight, navigate through the platform’s menu to the watchlist section. You can create up to five watchlists, each accommodating up to 50 stocks. Customise your watchlists by adding stocks, setting alerts, and applying filters to track specific market movements.
How can I open a joint Demat account?
To open a Demat account as joint holder, you must visit the HDFC Bank branch.
What are the demat account and trading account charges?
Demat and trading account charges vary depending on the account type. For accurate information, please contact our support team at infodp@hdfcbank.com or call 022-6246 5555.