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Why and Why Not A Demat AccountNovember 17, 2021
Do you know what a Demat Account is?
Introduced in the year 1996 as an alternative to physical share certificates, a Demat Account is the one that electronically holds securities and shares; it not only makes the trading of shares quick and simple but also reduces the risk and problems associated with physical share certificates.p>
A Demat Account can also be termed as Dematerialised account, which means converting the physical shares in to electronic format. Dematerialising of shares not only eliminates unnecessary paperwork, but also helps in soothing the process of share trading. A Demat Account can be used to store a wide variety of investments such as equity shares, ETFs bonds, debt securities, mutual funds and Government securities. In UAE, having a Demat Account is mandatory if you are thinking to invest in the India Stock Market.
What steps needed to be taken to open a Demat Account online?
The opening of the Demat Account for the NRIs is similar to the ones based in India, but before opening the Demat Account the NRIs should provide the following:
The NRI Account Subtypes:
The NRI Vs Indian Resident Demat Account
|Particulars||NRI Demat Account||Resident Demat Account|
|Demat Account Opening Fee||Same||Same|
|Demat Account Charges||Same||Same|
|Account Subtype||NRE or NRO
(Repatriable or Non-Repatriable)
|Linked With Bank Account||NRE or NRO bank account based on the demat account subtype||Resident Saving Bank Account|
|Linked With Bank Account||NRI Trading Account||Trading Account|
What benefits one can avail from Alankit?
You can avail the benefits of the NRI Demat Account after one submits the desired documents:
Alankit enables the clients to trade effortlessly in the financial market of India such as, BSE, NSE, etc. Our team of experts assist the NRI investors to accomplish trade orders promptly, on the trading terminal and in equities, commodities, mutual funds and currency derivatives in the best possible manner. Now you are ready to open a Demat Account with utmost easiness and accuracy.