Demat account is necessary if you want to invest your money in stock market and trade stocks on your fingertip. Here is the quick 3 three steps that would end-up opening your demat acount.
No big deal, just three steps:
1) PAN CARD and ADHAR CARD:
Check whether you have pan card and adhar card or not because Bombay Stock Exchange (BSE) issued a circular few days back, wherein they have ordered all demat account holders to link their accounts with Aadhaar on or before December 31, 2017.
2) Choose a stock broker.
Demat account is just like your savings account. You put your money in your savings account whereas you put stocks ( or securities) in your demat.Here is a collage of Some of the good brokers in India.
Additional documents that your broker will ask for opening demat:
1) A cancel cheque. 2) Your one photograph. 3) Your signature ( e-signature, if you wish to uplaod it)
Transfer the money: Your broker will link a adhar card with your savings account and then you can easily transfer the money from your demat to savings and vice versa.
3) Let's Trade:
I personally use Kotak Securities and trade stocks everyday on my fingertip :)
That’s it. Congrats! you are an investor now.