A demat account is an essential thing for investors. If one wishes to invest in the share market, he must have a demat account. A demat account is a repository of all the financial assets of investors. It works similarly to a bank account. Just as your bank account is where you keep your money, a demat account is where you keep securities. Indeed Demat accounts provide a safe and convenient means to store our securities. However, demat accounts are more than a storage house for securities. Today, the efficiency of a platform matters too. Thus, let’s look at the factors one must consider while selecting a demat account.
How To Choose A Demat Account
Before learning about the best stock market app, knowing how to choose it is necessary. Here are the points you should focus on.
Type Of Demat Account
Demat accounts come in two types. One should choose according to his needs.
- Regular demat accounts: The account has several features and practically no limitations. You can keep any amount of securities. Brokerage charges are as per the usual rates.
- BSDA accounts: Basic Services Demat Accounts (BSDA) are for retail or small investors. Investors can hold upto Rs. 2 lakhs of worth assets in such accounts. Upto Rs 50,000, there are no annual maintenance charges, after which you must pay an Rs.100 fee.
Ease Of Account Opening
Demat account opening is the first step to investing in share markets. So, this process should be a convenient one. Always look for a demat account that provides an easy account opening process. SEBI has clear guidelines in this regard. However, there is enough scope for brokers to simplify the process. Online account opening facilities and e-KYC are a few examples. A simple account opening process saves time and effort.
Demat Account Charges
There are several charges associated with a demat account. Demat account charges make up a significant part of investors’ trading expenses. Brokers levy various charges like annual maintenance fees (AMC), brokerage charges, account opening fees etc. So, investors must choose the best demat account that fulfils their requirements at reasonable costs. Investors can also research and find a free demat account and save more.
A Simple Yet Powerful User Interface
The one thing that many software-driven programmes lack is a good interface. A user-friendly interface becomes even more essential where a lot of finances are involved. Thus a demat account platform must work seamlessly. It must process all our transactions smoothly and fastly. Both the banking and broking services must be as convenient as possible. Slow transactions can be a real irritant if the platform lags too much. Hence, the best stock market app is one that employs modern and advanced software systems to provide superior services.
Best Demat Account
Let’s now know more about the best free demat account provided by Kotak Securities. It is a market leader in financial services with over two decades of experience. It also offers the best stock market app. Here are the key features of the Kotak Demat account.
Both Online And Account Opening
Investors can open a demat account by visiting their online portal. A detailed guide is present, which helps complete the entire procedure. So, one can open his demat account without stepping outside the house. Alternatively, people finding it difficult to do everything by themselves can reach out to Kotak’s executives at their branch offices. They shall assist you in opening your demat account.
Customers can open a 3-in-1 trinity account which offers several benefits. With this account, investors get banking, trading and demat services simultaneously. You will not need separate accounts anymore. As everything is possible through a single account managing your investments becomes pretty easy. Moreover, you will no longer waste time switching accounts.
Attractive Brokerage Charges
Kotak Securities have a very investor-friendly fee structure. Investors can save a lot of bucks as there are no unnecessary hefty charges. The brokerage fees are quite competitive in the entire segment. Delivery charges, AMC, are quite reasonable. You can open a free demat account too. Further, there are numerous brokerage and trading plans. With a single plan, you get several benefits, like trading in various securities, free delivery, access to the derivatives market, etc.
Kotak’s demat account employs enhanced software to provide an excellent experience. Advanced and powerful software with modern features runs the demat platform. All transactions take place instantly within seconds. The interface of the platform is simple and hence easy to use. In addition, several layers of security protect users’ information ensuring data privacy.
So, if you are planning to enter the financial market and participate in the share market, open a Kotak Securities demat account. Avail of several benefits at affordable prices and kickstart your journey.