What is a Demat Account? why do use it?

Before joining the stock market, some kind of information has to be kept. Out of which there is also a Demat Account.

This is a name associated with the stock market. About which you will learn in this.

Many people are unaware that what is a demat account, what is its use, what are the benefits of opening a demat account, etc.

Before joining the share market, it is necessary to open a Demat account.

So now you will know about it below.

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What is Demat Account?

The full name of Demat is Dematerialized.

Demat Account is an account in which your purchased shares are stored in electronic form.

If you want to invest in the stock market, then first of all you have to open your Demat Account.

Demat account was started in India after the Depository Act of 1996.

Earlier there was a certificate for each share.

Maintaining the certificate was very difficult.

There was also the danger of getting lost and stolen.

Demat account came to solve these problems.

Where our shares are held in fully secure electronic form.

Any person above 18 years of age who has the necessary documents. He can open Demat account.

Pan Card for this

bank passbook

Address Proof

photography

etc.

Benefits of opening a demat account

There is one place to keep all the different investments (debt or equity).

There is no risk of theft, damage or fraud by holding all securities in electronic form.

Automatic updates are available on Demat account.

Transfer process is very easy and quick

You have learned in this what is a demat account, what is its use, what are the benefits of opening a demat account etc.

We hope that you must have understood the information given in this about Demat Account.

If you got to learn something from this information, then please share it.

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