A demat account is a kind of account through which one can simply trade through the shares. This account is compulsory if you want to tradestock or shares in the stock market.
Why to open a demat account?
While dealing with the Angel Broking, you would get ample amount of benefits such as:
- Best way to keep all your safeties, securities, shares, bonds in once place in an electronic format.
- This is the most reliable and convenient format to hold your shares.
- Reduced paperwork – No loss of documents, damaged documents, as well as misplacement of documents, delivery risks etc.
- No paperwork also means the fast transactions and immediate update in account
- Each and every required detail like contact, address, is sent automatically. This simply saves time and hassles as you do not require give the details during every transaction.
- The automatic update of account is also there.
- The securities and details are auto updated while selling or buying
- Stock bonuses also added directly to account
- There is even no risk of theft during delivery, fake share certificates
Advantages of dealing with Angel Broking
- No stamp duty – Dealing with Angel Broking Demat Account this has reduced the cost.
- All the investments – The bonds and shares as well as mutual funds in one place
- Portfolio—it assists to keep the track of the entire portfolio
- Performance- The performance of the assets can also be tracked regularly. It also assists to make informed decisions and helps manage your funds better.
- Just like the bank account, you can name the nominee for your shares and securities.
- Regular statements along with the updates about all your securities and funds
- Operate from anywhere – Your account can be accessed and maintained online
Documents requirement by Angel Broking
The documents needed for opening Angel Broking Demat account are almost the same from whichever firm you wish to seek service from. The one required by Angel Broking is detailed further.
Proof of identity
- Unique Identification Number, passport, Voter ID card, or license should be submitted.
- PAN card with the recent photograph and it is one of the valid requirements. Exceptions would be applicable for those who are already exempted from getting PAN card.
- The identity card should be issued by the state or central government or other similar institutions.
Proof of address
- You would have to submit the Ration card or Identity Card when you will opt for the angel service or Registered Lease. In addition, you can also submit Flat Maintenance bill or Insurance Copy of the house that would be required for the address proof. ‘
- Utility bills include Telephone Bill, gas bill or electricity bill which is not more than three months old.
- Bank statement should also be introduced.
Opening this account is extremely easy and simple. You will have to contact them and research a little about their process to open the account. Once you fill in the details you will require providing identification documents and PANNING card. After verification, the unique number is generated for you, allowing you to use it for all your transactions.
When you will deal with the angel broker for the demat account, you will not have to think too much because it is extremely inexpensive. Very nominal fees have been charged for maintenance of the account. You can also grant Power of Attorney to your trusted person to simply operate the a/c on your behalf. Up to 3 account holders are allowed in a demat account, but all the holders need PAN cards.
This is also allowed to have the zero-balance of shares in the account. So you are free to invest only as much you are comfortable with at any such given point in time without having the compulsion of maintaining minimum balance. You can also ask your bank for savings account combined with demat or trading a/c. Multiple lenders offer the important and significant loan amounts against the securities, which are genuinely held within the borrower’s Demat Account. It serves as collateral for loans.