Question 1

What is a demat account?

Accepted Answer

A Demat Account is like a digital wallet for your investments. It holds your stocks, bonds, mutual funds, and other financial assets in an electronic form instead of physical certificates. It makes buying, selling, and managing investments easier and safer.

Just like you use a bank account to store and manage your money, a Demat Account is used to store and manage your investments. It keeps track of how many shares or units you own and allows you to buy or sell them with just a few clicks.

Question 2

Who is eligible to open a Demat and Trading Account?

Accepted Answer

Any individual who is a resident of India and is above the age of 18 years is eligible to open a Demat and Trading Account. This includes individuals, HUFs (Hindu Undivided Families), trusts, and corporate entities

Question 3

Why do I need a Demat account?

Accepted Answer

A Demat Account is necessary for holding and trading securities in electronic form. It eliminates the need for physical share certificates and facilitates faster, secure, and convenient transactions.

Question 4

How much time does it take to open and fully activate the Demat and Trading account with Swastika?

Accepted Answer

Swastika's Demat and Trading account can be opened and fully activated in just 2 hours.

Question 5

What documents are required to open a Demat account?

Accepted Answer

For Indian resident individuals

To open a demat & share trading account you need the following documents:
YourPAN Card
Your valid Government approved address proof (any one of the following)-

Aadhar Card
Driver's Licence
Passport
Voter's ID
Ration Card
Registered lease or sale agreement of residence
Insurance copy
Utility bills like telephone, electricity or gas (less than 3 months old

Your bank proof mentioning your name, account number and IFSC code clearly (any one of the following)-

Cancelled cheque
Bank statement/Passbook (last 3 months)

Futures and Options

For Equity and Currency Derivatives you would require an income proof along with the above-mentioned documents. Income proof can be any one of the following -

Bank account statement/Passbook (last 3 months)
Income tax returns (last 1 year)
Salary slips (last 3 month)

Click on the link below and register now:
https://kyc.swastika.co.in/customer/login

Question 6

Is it compulsory to assign a nominee?

Accepted Answer

Yes, it is compulsory to assign a nominee for a Demat and Trading Account. Assigning a nominee helps ensure that in the event of the account holder's unfortunate demise, the assets held in the account can be smoothly transferred to the nominee without any legal complications. It provides a level of security and convenience for the account holder and their family members.

Question 7

Can I open more than one Demat account?

Accepted Answer

Yes, you can open more than one Demat account. There is no restriction on the number of Demat accounts an individual can have.

Question 8

What is esign?

Accepted Answer

ESign, short for Electronic Signature, refers to the process of electronically signing a document or agreement without the need for a physical signature. It allows individuals to sign documents digitally, eliminating the need for printing, scanning, or physically mailing the document. ESignatures are legally recognized and accepted in many countries, including India, under the Information Technology Act, 2000.

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