An important thing to remember before opening a Demat-Trading account online
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You have chosen the right broker with the right bells n whistles.Hold your horses. Pump the brakes. Shreeeeeeeeeeeech and halt.
I know, heart is racing, you gonna open your first Demat account. But we have skipped an important piece of information.
i.e. your bank details.
Ask whether your broker’s payment gateway supports your bank!!! It is a very rude way of awakening. I opened my mother’s account in IIFL. My maa does not have any netbanking. So, I had her registered in IDFC first bank. I opened an IIFL account for her. Lol, IIFl doesn’t support IDFC first net banking, n IDFC first can’t send money to IIFL via IMPS/NEFT. It says account details n IFSC code does not match. That’s really nice.
I will add top 10 brokers as per my knowledge and I will add list of banks supported by them
1) Zerodha
Source:https://zerodha.com/fund-transfer#tab-deposit...ds
2) Upstox
Source: https://upstox.com/funds-tra...r/
3) 5Paisa
Source: https...ww. 5paisa .com/bank-list-details
4) Groww
Source: https://groww.in/blog/banks-supported-paperles....
5) Alice Blue
Source: https://aliceblueonline.com/bank-de...s/
6) SAMCO
Source: https://www.samco.in/fund#bank...al
7) Tradesmart
Source: https://tradesmartonline.in/trading/online-fund...
8) FYER’s
Source: https://fyers.in/fund-tra...r/
No info regarding Paytm Money and Master Trust
Some Other broker
1) Sharekhan:
Banks currently supported by Sharekhan for online fund transfer: Axis Bank, Bank of India, Citibank, Deutsche Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indusind Bank, Kotak Mahindra Bank, Oriental Bank of Commerce, State Bank of India, Union Bank of India and YES Bank.
Source: https://www.sharekhan.com/campaign/zero.aspx#:~....
2) Angel Broking
Source: https://www.sharegyaan.com/list-of-bank-in-ange...
3) IIFL
HDFC Bank, Axis Bank, ICICI Bank, Bank Of Baroda, Federal Bank, Kotak Mahindra Bank, Yes Bank
Source: https://ttweb.indiainfoline.com/trade/FAQs/Fund...
4) Motilal Oswal
Source: http://onlinetrade.motilaloswal.com/emailers/ba...
5) Geojit
Source: https://gcc.geojit.net/Mailers/5826257132013265...
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Good post. HA+KP
So IIFL doesn’t support UPI?
ICICI Direct… My fav…
very expensive and low on technology
Just open zerotha and forget eveything else
@bikidas2060 Try UPI option…
had closed IIFL account many years back got sms from NSE about balance as 0
dont they delete the account and contact information from their data base
Bade gande log yaar. What’s account closing procedure Bhau!??
Very useful post…. Thanks Bro….. VU+KG
Thanks for the efforts in making this useful post @bikidas2060
OT: Multiple demat accounts are very helpful for categorical investment and trading
Keep atleast one account for trading one for investment,
Looking into nvestment accounts everyday is harmful bas dhakkan band Kar ke rakh do aur paisa banne do
Acha bhau, app kaunsa wala broker use karte hain???
Grow gives free Demat Account with Zero AMC.
No F&O and Commodity trading.
Baaki tools bhi chahiye naa
@bikidas2060 bhai, what about Finvasia?
Anyone of those supporting crypto?
I opened mom’s account in zerodha with paytm bank. Cant apply to IPOs now thru it as PPB doesnt support that. Thinking of opening her account on IDFC First. will it work?
Before opening a DMAT account understand all the broker’s charges clearly – brokerage, dp, amc, account closing, cml etc.
Don’t go about opening a account blindly because there is some discount or cashback.
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