A demat and trading account is one of the most important prerequisites to start your investment journey. However, being a new entrant into the stock market, you may not be aware of how to open a demat account. If that’s the case, then this article might help you find out the best way to open a demat account for beginners such as yourself.
That said, before we get into the specifics, you need to first know that there is more than one way through which you can open a demat account. Let’s first take a look at it.
Primarily, there are two different ways - through the offline mode and through the online mode. The offline mode involves you physically visiting the nearest branch of your depository participant, manually filling up the application form, enclosing all of the supporting documents, and finally signing and submitting them to the branch official.
The online mode, on the other hand, is far easier and can be done through the use of a computer and the internet. All that you would need to do is visit your depository participant’s website and follow the instructions to open a demat account online. The entire process can be completed from the comfort of your own home and within just a few minutes.
It is quite obvious isn’t it? Opening a demat account for beginners online is the best and the easiest way. As you’ve already seen above, one of the most important advantages that the online mode offers is convenience. Since you don’t have to physically appear at the nearest branch of your DP, you get to save time, money, and energy.
That’s not all. The entire online process is completely paperless with no physical form filling or physical document submission involved. And, you also get to track the application progress from start to finish. On top of it all, the online mode of opening a demat and trading account is much faster and gives you access to the stock market much sooner, which is not the case with the offline mode.
The online demat and trading account opening process is simple. At Motilal Oswal, we’ve simplified it even further. Here’s a brief look at the process flow for opening the best demat account for beginners.
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