If you're planning to invest in the Stock Market, you would need a Demat account. A Demat account or a dematerialized account is an electronic vault for your securities. To invest in the Indian Stock Market, you need a Demat account. At the moment. There are two depositories which provide a Demat account: The National Securities Depository Limited (NSDL) and the Central Securities Depository Limited (CSDL).
Why Should You Get a Demat Account?
Even before the Demat accounts were invented, people used to buy and sell shares. However, the process was far more lengthy and struggled with gaps.
Back in the days, people would have to physically meet their broker or make a telephone call to buy and sell shares. Moreover, even after arranging the transaction, you would have to wait for a minimum of three weeks to actually receive the shares or the money in your bank account. Nowadays, with online apps, you can do so much better in a matter of a few clicks. And transact within a few seconds. Although, you must keep in mind that it takes T+2 days for the shares to reflect in your account or for the money to be credited to your account. However, you still have a solid proof of the transaction with you. Moreover, a Demat account provides a safe electronic platform for you to keep all your digital assets. Hard copies always have a risk of being lost.
To set up your Demat account, you would need an intermediate broker. Upstox is an online brokerage app with ₹249 account-opening charges for Demat accounts and low brokerage fees on any transactions thereon. In the Indian investor community, Upstox is a preferred choice because investing is free on Upstox. How so? Allow us to explain.
A choice of over 40 lakh plus happy investors all over India.
We offer flat ₹20 brokerage for equity delivery orders.
₹20 brokerage fees on intraday futures and options.
We charge zero commissions on mutual funds and digital gold.
We are accessible via our website and mobile app both, so you can make trading decisions on the go.
To open a Demat account online with Upstox, follow these 4 simple steps:
- Visit the Upstox website, and click on ‘Sign up’.
- Keep scanned copies of documents such as PAN card, Aadhaar card, a canceled cheque, and photographs, as you will be asked to upload them.
- Upon submission, you will be sent an OTP on your given mobile number as well as email id. Enter the details.
- And that's it! Your Demat account should be activated within 24 hours.
Now, you can download the Upstox app on your phone to conveniently access your digital gold, shares, and more.
Conclusion
Opening a Demat account with Upstox is a quick, efficient, and hassle-free procedure. With a vast collection of features and information taken into consideration, you may open a Demat account with Upstox easily and quickly.