Hi Sreekanth,
i'm having a doubt that is it necessary to have a DEMAT account when u r doing 3-4 MF investments?? bcoz most of the banks are charging for it...? and in case it is too much essential... which is the option u choose? ....
As far as i browsed, ZERODAH is providing no charges for most of the transactions
3 Answers
Hi,
If you are investing in Mutual Funds only then Demat account is not required.
You may have a look at industry sponsored platform MF Utility.
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We all have heard of Demat Account, but very few know what it means. It nothing but dematerialisation of financial certificates. The sole purpose of the Account is to hold your Government securities, bonds, shares, mutual funds, and exchange-traded funds in electronic form. In fact, investing in the stock market requires one to hold a Demat Account. In simpler terms, Demat Accounts are like a savings account.
How is Demat Account important to an investor?
- Physical stocks were challenging to maintain in the earlier days. There were times when they were stolen or damaged. Demat Account eliminates these concerns
- You cannot trade in the market without this Account. If you wish to buy or sell stocks listed in the exchange, you need a Demat as well as trading Account
- You may hold separate investments such as mutual funds, securities, in different places. You can store them in the same Account through Demat Account
- Financial transactions were considered risky at a point. Now, there are many security measures available for all types of online monetary dealings. This holds true for Demat Account too
- The advent of electronic form of stocks has made life simple and convenient for investors. Whenever you wish to trade in the stock market, all you need is a Demat Account
It offers flexibility when trading. You can trade from your Demat Account using a smartphone or PC. You can also buy and sell on the move
Regards,
Kamlesh
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