From Application to Activation: How Long it Takes to Open a Demat Account
A Demat account is essential for investors wanting to hold onto securities. You don’t have to store physical security certificates with a Demat account. Securities will be converted into digital form and stored in a Demat account for as long as you need. Many stockbrokers allow integration of the Demat account with the trading platform for improved portfolio management and market research. With the rise of digital trading platforms in India, opening a Demat account has become relatively easy. You can quickly open an online demat accountwith a trusted stockbroker like Religare Broking. Read on to understand the time needed to initiate a Demat account in India.
Opening Demat account offline and online
You can choose to open a Demat account offline in India. However, you will visit a physical office to open an offline Demat account. Remember, you will physically submit multiple documents to the depository participant to open a Demat account offline. After you submit the required documents, the depository participant might take a few days for verification. Therefore, opening an offline Demat account in India might take 2 to 3 days. Opening an offline Demat account in India may take over three days. You can open an online demat account to remove the hassle of visiting a physical office.
Interested traders can visit the official website of Religare Broking and open a Demat account online. Currently, Religare Broking is offering free Demat accounts for traders in India. You will provide your name, email ID, city name, mobile number, and other details to initiate the Demat account opening process. The official website helps digitally upload the required documents for a Demat account. Verification hardly takes time once you submit the Demat account application with the required documents.
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Your Demat account application might get approved within 2 to 3 hours when everything is in order. In some cases, opening a Demat account online might take 1 to 2 days. A new demat account opening online will usually take less than 48 hours. Remember, opening a new Demat account online will be completed without moving an inch. Religare Broking also allows you to open a trading account with the Demat account. Both accounts are seamlessly linked to facilitate digital trading and securities transfer. It is crucial to note that you need a trading account to buy/sell securities and transfer them into the Demat account.
Check your Demat account application status online
When opening a Demat account online, you can check your application’s status. After two days, you can check the status online if the Demat account application is processed. Correcting some details delays the Demat account opening process.
Another reason for a possible delay while opening a Demat account arises while verifying the authenticity of the submitted documents. You must submit authentic documents to speed up the Demat account opening process.
Conclusion
You can open an online demat account to minimise hassles and save time. Religare Broking allows traders to open a new Demat account within a few hours. You can enjoy low brokerage, seamless integration, enhanced security, and many other benefits with a Demat account. So initiate your Demat account opening process right away!
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