A Free Demat Account helps you to hold shares in electronic form. Don’t need paper share slips.
Three accounts work as one. A bank account transfers money. Trading account allows you to buy or sell. The shares are held in a Demat account after each trade.
Why this account is useful
A free account gets you the first fee cut. But the word “free” might be only about the entrance fee. A broker can still charge for trades, pledges, fund transfers or other tasks. Some plans also have an annual fee.
Before you sign up, check the full list of fees. Check the policy length and the cost of each charge. This will help you know the real cost.
Keep these records near you
You may require:
- PAN card
- Aadhar Card
- Aadhaar-linked mobile number
- Current Email ID
- Bank account statement
- Signature
- Live Photo or Selfie
- Proof of income for certain trade types
Make sure the name and date of birth are correct. Incorrect or outdated information can bog down the check.
How to Open the Account
- Select a Registered Firm
Choose a SEBI registered broker or Depository Participant. Check its fee page, app, help desk and plan terms. Do not use a link from an unknown text or call.
- Launch the Site or App
Visit the company’s official website. You can also benefit from its Trading App. Add your mobile number and email ID. Enter the one time passwords sent to both.
- Verify PAN and Aadhaar
Enter your PAN and date of birth. Then, do the Aadhaar check. The OTP will be sent to the mobile number linked with Aadhaar.
- Include your main points
Home address, type of work, tax status and income range. Add your Bank Name, Account Number and IFSC Code: Look in each field before you proceed.
- Add Nominee
You can name a nominee for the account. You can also send in your choice on the form. Carefully review the nominee terms. Keep a copy of the decision that was made.
- Upload your Files
Upload Bank Proof & Clear Signature Image Choose a simple and light image. Do not change important facts. Proof of income may be required for futures and options.
- Snap a Live Photo
You might have to do a selfie or live video check. Sit so your face is flat. Follow on-screen instructions. Keep your PAN card with you in case they ask you for it.
- Read and Sign Documents
Read the fee sheet, rights, duties, risk note and plan rules. Never sign a blank form. Use Aadhaar OTP to e-sign only if all facts are correct
- Wait for the Check
The firm will review the form and files. It will send your client ID and login data when the account is live. Enter a new passcode. If available, turn on additional safety features.
How a Trading App Can Help
One place where a Trading App can offer many account tools. You can see shares, funds, orders and trade notes. You can also track a watchlist or apply for a public issue.
Understand each order type before your first trade. Verify the share name, price, units and order type. Check all fees before you tap buy or sell.
Your OTP, passcode and trading PIN are confidential. Look at trade texts and e-mails after every order. Match with app record. If you see a trade you didn’t execute, tell the broker immediately.
Bajaj Broking as a Choice
Option 1: Bajaj Broking – Free Demat Account opening. The account opening charge is nil, says its site. It is an online flow. It involves phone and email checks, PAN and Aadhaar checks, bank proof, sign upload, selfie, Aadhaar e-sign.
It has a Trading App through which you can trade in shares, mutual funds, public issues, exchange traded funds, bonds, and set trade types. The current Bajaj Broking fee page also mentions that the annual Demat account care fees are nil. Additional trade or task fees may apply.
This makes Bajaj Broking relevant for those who want an online set-up and one app for key market tasks. Please see the live fee page and plan terms prior to applying.
Conclusion
A free Demat account is the first step to use of online market. Keep ready PAN, Aadhaar, bank proof and contact details. Choose a SEBI registered firm. Check all fees. Fill in the form with care. Then use the Trading App with secure login habits and regular account checks.
Sources
