Free Demat Account: Have you not opened your free demat account yet? Do you really want to know the magic power of compounding? Do you wish to learn stock market easily?
Are you willing to get dividend and generate passive income from stock market? Finally if you wish to get rich, groww your money in very short time, you must learn stock market and for all these you must have a demat account.
Learn 15 Hacks How to start investing on the stock market
Opening or having a free demat account is also a crucial part of Financial Planning. So, you may like to learn top and best 15 simple steps of financial planning for beginners
Table of Contents
What are the top 10 benefits of Free Demat Account
- Demat Account is free
- To learn How to start investing in Stock Market
- Apply for IPOs
- Make Money Online from IPOs
- Generate Passive Income From Dividend
- Enjoy the power of compounding
- Start Investing in ETF Funds
- To Grow Rich by saving your money not only for save
- Practice and learn Trading
- Learn About Primary Market
Point No.1- What is Free Demat Account what is the use of it?
If we try to understand in a very simple language, A Demat Account is as similar account as a bank saving account. We open a saving account in bank so that we can store and save our money. And an investor open a free demat account to store Shares/stocks, IPOs.
Point No.2- What is the difference between a Saving Account and a Demat-Account!
Some basic differences are there between them
| Bank Saving Account | Demat-Account |
| 1. You have unique Saving Account Number | 1. You have unique Demat-Account Number or BOID number |
| 2. You have a Customer Id | 2. Here you have DP Id |
| 3. Customer ID is your client ID | 3. DP ID is not your client Id. Here unique client code is different from DP ID |
| 4. Your Bank is soul Authority | 4. Broker will maintain your Account |
| 5. Under the control of RBI rules | 5. Under the rules of SEBI |
| 6. No different Depository | 6. Depository: CDSL or NSDL |
| 7. You can save only money | 7. You can store only Stocks/Shares and no money. |
| 8. Annual Maintenance Charge for Debit Card, Cheque Book | 8. No Annual Maintenance Charge in free DA |
| 9. Minimum Amount required | 9. No such condition |
Point No.3- What are similarities between Saving Account and Demat-Account
Apart from differences, they have some similarities
| Saving Account | Free Demat Account |
| 1. Open in Offline/Online | 1. Open Online/Offline |
| 2. Phone Number Required | 2. Same as SA |
| 3. PAN number, Aadhar number, email id required | 3. PAN number, Aadhar number, email id required |
| 4. You can open more than one | 4. You can open more than one |
| 5. you can add Nominee | 5. you can add Nominee |
Point No.4- Best Free Demat Account Opening Online Platform
There are many Mobile Apps as well as Websites available to open Free Demat Account Online but problem is that all are not free. Because, though you can open your account free, they will charge annual maintenance cost. So, Best absolutely free and without any annual maintenance charge Free demat account brokers are
Free Demat Account with no annual charges
- UPSTOX (Opening is free and no AMC)
- Finity (No Opening and ANNUAL MAINTENANCE CHARGE)
- GROWW (Absolutely Free)
Now let’s us discuss how a free demat-account will be proved the most beneficial to you if you want to learn the following things
- Investment
- Get Financial freedom in a early age
- Open multiple earning sources
Points No.5-Learn How to Start Investing in Stock Market
Stock market is not a subject to learn in a theoretical way. That investing proficiently and make huge profit is an art. And if you are interested to get rich within 12 months, you can’t avoid land in stock market.
Mind it that ‘practice makes a man perfect’. So, if you think of entering stock market after reading and learning a lot of theories, you are going to make blunder.
You must practice with learning. And that is why you must open a Free, yes absolutely free demat account in 2022. Because, without demat account, you can’t live practice in share market.
I am a personal finance, stock market update, etc.-related blog post writer. Besides, I am a stock market trader. I invest in IPOs, stocks, Etc. I publish valuable posts and information here.
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