What documents are required to open a Demat account online?
For online Demat account opening you need to have the following documents:
1. Identity proof
2. Address proof
3. Proof of income
4. A bank account
5. PAN Card
6. Passport size photographs
Where can I find my Demat account number?
When your Demat account is opened, you receive a letter from the depository which includes all the details regarding the Demat account. The account number is also known as Beneficiary Owner ID.
The number of digits may differ based on which depository your account is from. In case of a CSDL, the account number will have 16 numeric digits. Whereas in case of NSDL the number will start with the letters ‘IN’ followed by 14 numeric digits.
In case you have misplaced your Demat account number, you can call up your Depository Participant’s customer care number and they can help you recover it.
What is a ‘Market Trade’ and an ‘Off Market Trade’?
Market trade is where a clearing corporation is involved in the trade settlement. Off Market Trade is where the settlement is done directly between the two parties in question with the clearing corporation.
What is a Transmission cum Demat Account?
If the investments are held jointly, and if one of the holders is deceased, then the surviving holder must submit all the required certificates of the deceased holder. The certificates include a death certificate, Transmission cum Demat form submitted to the DP.
What is a Transposition cum Demat Account?
When the names on the demat accounts and the physical certificates are different a Transposition cum Demat form has to be submitted to convert the certificates into their electronic form.
What is Instruction Slip Processing?
Just as you have Cheque leaves, you have instruction slips in demat account. These slips have to be signed by each holder. These instruction slips are used while on market and off-market transactions.
What is Rematerialization?
When you convert your electronic certificates, back into physicals ones, the process is called Rematerialization. For this, you need to submit a Remat Request Form, which has to be signed by all the holders. It should be verified by the Depository participant and then submitted to the company or registrar.
What do you mean by Freezing and De-freezing of Demat Account?
You can freeze and de-freeze your demat account as per your wish by submitting the relevant forms for the requests.
How to convert Mutual funds to Demat?
You can convert your Mutual Funds to a Demat form in the same way you dematerialize your securities. This helps you manage your securities and mutual fund investment together in a single demat account. This rules out the paperwork involving mutual funds.
How to Close a Demat Account?
If you want to close your account, then you have to submit a form for the process to start. This form has to be signed by all the holders, and the holdings have to be transferred before the closure.