A savings account is often just your first step towards financial security. If you want to grow your wealth, you’ll need a demat account too.
Related: Reactivating your dormant demat account
A demat account is somewhat like a bank account. It is an online account that holds your share certificates or securities in digital form.
Demat accounts hold more than just shares. They also store bonds, mutual funds, non-convertible debentures, exchange-traded funds, and gold in the demat form.
Demat accounts are thus suitable for all kinds of investors. Plus, they are convenient and safe.
Related: Features of demat account
The government has approved a proposal for creating a national database of academic certificates. Soon, even academic marksheets could be issued in the demat form. So, the usefulness of demat accounts in India is likely to increase.
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