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2020 pushed many Indians towards the capital markets. The reason is clear: despite their inherent risk, the capital markets can help investors beat inflation and create a wealth corpus in the long run. They can earn investors decent returns, although a Demat account is necessary to leverage the benefits of the equity market. Read on if you're unsure about the meaning and benefits of a Demat account.
'Demat' in the term Demat account stands for dematerialisation. According to the National Securities Depository Limited (NSDL), dematerialisation is the process using which you can convert physical certificates into electronic balances. Holding a dematerialised account or Demat account allows you to own your securities electronically and transfer any security from your account to any other account.
Securities refer to various kinds of financial instruments that are traded in the capital markets. It includes shares, debentures, bonds, mutual fund units, commercial papers, certificates of deposits, government securities, etc.
You can open a Demat account via a registered Depository Participant (DP). DPs are agents appointed after registration with the Securities and Exchange Board of India (SEBI). Investors who wish to invest in the capital market need to open a Demat account with a DP. It is, in several ways, like opening a savings account with any bank branch.
Generally, there are three types of Demat accounts.
The traditional way of opening a Demat account
Opening a Demat account online
After submitting these details, the DP will contact you to complete all the formalities to open a Demat account. Once you have your user ID and password, you can log into your broker’s online portal and begin investing.
IDFC FIRST Bank also offers a Demat account to help you trade and invest. You do not need to pay account opening charges while the annual maintenance charge is waived for the first year.
With the rising cost of living, saving money is not enough. You must invest in assets that can help you beat inflation and create a wealth corpus. The capital markets can assist in this mission, but you need a Demat account to get started.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.