As in every other sphere of life, you should not settle for mediocrity when it comes to your demat account. But to opt for the best demat account—it requires a bit of homework and planning. You have to choose a depository for opening a demat account to trade in the stock markets. A depository is an institute that facilitates the opening of the account. So, first and foremost, you must choose a good depository on your journey to open the best demat account.
Read more: How to use a demat account
Different investors may choose different categories of such accounts depending on their priorities. Here’s a detailed look:
This type of account is held by just one person. You can open this account to trade on your own. You will be the sole account holder and enjoy the profits. Likewise, you will also be the sole risk-bearer. Joint demat account: A maximum of three people can jointly open this type of demat account. The risks and profits will be shared by all the account holders jointly.
A business house or any commercial set up can open this type of demat account in its name. The account will be operated in the name of the organisation. All profits will be credited to the organisation’s official banking account. NRI demat account: Demat accounts are available for the NRIs as well. There are two sub- categories:
1. Repatriable Account: If you open this type of demat account, you can transfer funds to your foreign bank account.
2. Non-repatriable Account: This type of NRI demat account does not allow the holder to transfer funds abroad. Now that you know all about the different types of demat accounts, choose the most suitable account for you with care. Remember that your investments and dividends will depend on your choice.
Read more: Types of demat account
You need to open your demat account with the best possible depository. Kotak Securities offers many benefits and is a reputed depository. Here are some reasons why you get the best demat account services with Kotak:
It is now mandatory for all investors to have a demat account if they wish to trade in the securities market. Since 5 December 2018, the Securities and Exchange Board of India (SEBI) has mandated that transfer of securities can no longer take place in the physical form.
However, when it comes to the trading of commodities, derivatives, and exchange-traded funds, you do not necessarily need a demat account.
Read more: How to transfer shares from one demat account to another
When you open a Kotak demat account, you get a three-in-one service. You have just one account which triples up as a banking account, a demat account, and a trading account. This makes it easier for you to maintain your finances in a hassle-free manner. The account is opened with a single application form—this saves you from extra paperwork.
All the money comes in and goes out from a single account. So, you do not have to worry about transferring money from your bank account to your demat account and vice-versa. Kotak offers the auto-transfer facility. However, you may want to have separate banking and demat accounts to monitor the transfers yourself.
Another factor why you get a top demat account with Kotak is the intraday benefit. Intraday trading refers to buying and selling the same stocks on a single day. When stocks are bought and sold, the depository usually charges a brokerage amount. Intraday trading is available free of charge with Kotak Securities. Yes, you heard it right—the depository does not charge any brokerage for this.
You get the assistance of some of the most qualified DPs when you open a demat account with Kotak. The DPs are skilled, trained, experienced, and help you to invest in the best possible manner.
Kotak offers the best demat services because of its extraordinary customer support. The moment you apply for a demat account, you are assigned a relationship manager. This manager works closely with you. He/she helps you to throughout the process and answers all your queries.
All of us want the best of everything in our lives. With a little foresight and knowledge, you can actually translate your wish into reality. The key is to choose a good depository that has a team of excellent best DPs. This will help you to surge ahead in the financial markets. So, what are you waiting for? Get started right away and open the best demat account to earn handsome profits to secure the future of you and your family.
Read more: What is DP ID in demat account?
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