Hi i am planning to open a new demat account and when i inquired with some of the banks they are telling that we need to pay an one time fee between 700-1000 Rs. for a/c opening and there are stamp charges and all. I need your suggestions on opening the DEMAT account. Which bank/broker provides demat facilities with less brokerage and the transaction charges.
Hi thanks for your comments.
Hi it will be great if any of you guys give me your suggestions. And i am waiting for your reply.
Hi I am also looking for the same information what SAM is looking for.
It will be great if someone could provide information on the same from your experiences...
Bob Demat Account
Demat Account means Whatever equity shares you want to buy, they now come in electronic form which is called dematerialisation form and not as Physical Share Certificates which we used to get before 1997. So we have to open Demat Account to keep our shares purchased through any broker from any stock exchanges.
I am 100% satisfied with India Infoline Limited. I am using it since last 5 years. Go for its Trader Terminal Account than Investor Terminal Account if you are a regular trader.
Reliance Money is also very good but it's still in initial stage.
Trading Account means as you want to buy / sell the equity shares, you need a registered broker with whom you can deal with. It is also called as Stock Broker / Dealer. You have to open Trading Account with to Buy / Sell Equity shares from the stock market.
Now, Many Private Banks open Savings bank Account, Demat Account and Trading Account together like HDFC Bank, ICICI Bank, IDBI Bank, Bank of Baroda, State bank of India, Axis Bank.
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By default ur demat a/c will be linked to ur salary a/c as one can open only one a/c at ICICI, Any profit from capital markets are taxable, MF gives you tax benefits to a certain extent, ICICI is a good demat provider but not the best in market.
"Demat account linked with my bank account online" is better if you need to transfer frequently "Demat account linked to Bank account through cheque' is useful for safety if you are not a highly active client