| What is a demat account? |
A demat Account is an account used for share trading.
Demat stands for Dematerialisation. It means holding shares in electronic form.
An investor needs to open a demat Account with the bank having this facility.
Demat Account is similar to a bank account, the only difference being in Bank you deposit and Withdraw Money, in demat you deposit and Withdraw shares.
It is created for trading of shares by investors in open market (secondary market)
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| What is held in my demat Account? |
Let's say your portfolio of shares looks like this: 150 of Infosys, 50 of Wipro, 200 of HLL and 100 of ACC. All these will show in your demat account. So you don't have to possess any physical certificates showing that you own these shares. They are all held electronically in your account. As you buy and sell the shares, they are adjusted in your account. Just like a bank passbook or statement, the DP will provide you with periodic statements of holdings and transactions
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| What are the various documents required for opening a new demat account? |
The following documents are required for opening a demat account at Edelweiss
- Duly completed account opening form and passport size photos
- A copy of PAN card as proof of identity
- Personalized cheque/Copy of the bank passbook
- A copy of passport/voter ID/ ration card as a proof of address
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| Do I get a demat account statement? |
Yes, the demat account statement will be sent across to you at regular intervals, so that you can keep track of the status of your account. You can view account details like holdings, transaction history, etc.
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