How to Open a Demat Account? Easy Steps
Opening an online trading account is the first step towards becoming a successful investor. Before we begin, decide whether you want to open an account with Swastika through their website or with Swastika via their mobile app. Both options offer user-friendly interfaces and convenient features to make the account opening process seamless.
Via Website (Swastika):
- Visit Swastika's website & click “Open an Account”: Go to Swastika's website and find the option to open an account. It's usually a button or link that says something like "Open an Account."
- Enter mobile no. & email: Fill in your mobile number and email address.
- Enter Aadhaar no. & PIN into Digilocker to fetch PAN: You'll need your Aadhaar number and PIN to access your PAN card details from Digilocker.
- Fill in basic details: Provide basic information like your name, address, and date of birth. This helps Swastika create your account.
- Select plan & segment: Choose the type of account you want to open and the investment segment you're interested in, like stocks or mutual funds.
- Upload required documents: Scan or take pictures of the documents Swastika asks for, like your PAN card, Aadhaar card, and proof of address. Upload these documents to their website.
- E-sign: Use your Aadhaar number to electronically sign the documents. This is like signing your name on paper but done digitally.
Once you've completed all the steps and everything is verified, your account is officially opened! You'll receive confirmation and can start using your Swastika account to trade.
Via Mobile App (Swastika):
- Download Swastika: Find and download the Swastika app from the app store on your mobile phone.
- Enter mobile no. & email: You'll need to provide your mobile number and email address.
- Enter Aadhaar no. & PIN into Digilocker to fetch PAN: Use your Aadhaar number and PIN to access your PAN card details from Digilocker.
- Fill in basic details: Enter your personal information, like your name, address, and date of birth.
- Select plan & segment: Choose the type of account and investment segment you're interested in.
- Upload required documents: Take photos of your documents using your phone's camera and upload them directly to the app.
Although many people prefer to invest in mutual funds as they find it is one of the finest ways to achieve high returns with minimum risks, only a few investors among them show their courage to invest in equities and stocks.
Needless to say, the stock market is full of volatility, unpredictability and therefore many investors unable to put their money in the stock market. Still, many investors invest in equities and get outstanding returns from stock market trading.
What is a Demat Account?
A Demat account is simply a dematerialized account in which you hold a variety of investment securities such as shares, bonds, government securities, equity shares and more. The account is known as dematerialized because all the securities are placed in a dematerialized form.
Opening a Demat account is a must if you want to trade in securities in the stock market. This is because Demat accounts allow you to hold, buy and sell securities within a single account.
Importance of Demat Account
Opening a Demat account is important as it provides a digitally secure and convenient way of holding securities and shares instead of a physical one.
Also, it removes theft, loss and damage of physical certificates. Before the 90's when there were no Demat accounts, shares were traded in a physical form. And needless to say, physical shares were difficult to store and maintain. There was always a risk of being misplaced, damaged or stolen.
You can’t trade if you don't have a Demat account. Since everything is done electronically, having a Demat account allows investors to hold the paperless securities without a flick of a switch.
Why Open Demat Account with Swastika?
Swastika is a renowned stock broker that offers trustworthy yet quality stock brokers services in India. We are a SEBI registered stock broker and corporate member with NSE and BSE. We provide smooth trading platforms for the biggest stock exchanges such as NSE and BSE.
Here are the noteworthy reasons for opening a Demat account with Swastika:
- Easy to Carry: Since the stocks are placed in electronic form, there are zero risks involved. This is because the Demat account allows investors to hold securities most easily. Therefore, opening a Demat account is the easiest form of holding shares in one place.
- Common Depository: With a common depository, investors can hold all the investments in a single account. It also operates for other instruments and government securities like mutual funds, NCD and more.
- Automatic Updates : The investors do not have to provide their details every time a transaction is carried out through the DP. The account linked to the investors with their unique id represents the investors and has all the things listed out. Hence, every transaction is automatically updated with specifics.
Benefits of opening a Demat account with Swastika:
- Transparent Services: Swastika is known for providing transparent services for its clients without hiding any details from them. You will get all the information regarding your money such as where your money goes.
- Multiple Services under one Roof: At Swastika, you will get all the financial services under one roof such as stock trading, commodities, currencies and more.
- Real-Time Monitoring: Swastika’s trading account allows you to track and monitor stock price movements as they happen.
- Secure Trades: With Swastika, you can perform safe and convenient transactions. No matter whether you are trading through a laptop or mobile phone, buying and selling is a seamless and quick process.
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