Need Advice for Opening a DEMAT A/c

@Itachi Uchiha wrote: Hello Dimers,
I have little knowledge of stock market and its operations.
Just planning to invest in shares.
can u help me where should i open demat a/c and trading a/c?
is it better to go with a banker or non banker?
I have savings account in SBI.

Thankyou in advance

firstly, it is a great thing that you are thinking on building an investment corpus.
hope you treat it such and not be swayed by event based or reactive trading (tips, panic buy/sell).

about your query:
by any chance, since you have been on Desidime for a reasonable long time,

have you noticed or come across these topics ?? → (many are not directly narrowed in on your query, but are related)

http://www.desidime.com/forums/dost-and-dimes/t...

→ http://www.desidime.com/forums/dost-and-dimes/t... ←

http://www.desidime.com/forums/dost-and-dimes/t...
http://www.desidime.com/forums/dost-and-dimes/t...

remember, there are no free lunches and none of the quick or easy money exceptions can repeat themselves.
any systematic, goal oriented steps as per a pre-decided plan will always work wonders.
the idea is to remain consistent and invested over a long period of time, with course correction or portfolio realignment if there are some very specific reasons or market based triggers.
http://www.desidime.com/forums/dost-and-dimes/t...

here → http://www.desidime.com/forums/dost-and-dimes/t... someone spoke of an SBI account

but also remember this → http://www.desidime.com/forums/dost-and-dimes/t...

@Itachi Uchiha wrote: Hello Dimers,
I have little knowledge of stock market and its operations.
Just planning to invest in shares.
can u help me where should i open demat a/c and trading a/c?
is it better to go with a banker or non banker?
I have savings account in SBI.

Thankyou in advance

hope you know that you need three separate accounts for seamless trading in Indian stock markets.

1] your bank account
2] a demat account with an Depository participant; and of course
3] an account with a SEBI registered stock broker

often these three ‘separate’ contractual accounts are available under the umbrella of the same group companies.
However wherever there is more convenience, the costs usually go higher. So the banks that have sister companies as DP and Stock Broking
may give seamless y=transactional integration; but at a higher cost.

do check with SBI, if you have comfort level with them.

↗ recurring costs beyond the free this free that period ?
↙ does their broking outfit give easy to decipher reports (annual) that are helpful in submitting tax returns (clear understanding of capital gains, the deductible taxes paid and so on) ?
↗ if you consider SBI as a broker, do they at all give any margin for delivery based equity trading or quality advisory for a fee or to certain category members ?
[not the generic PDFs or mails or a ‘relationship manager’ who might be just a wolf in sheep skin; but like really premium advisory] Check http://www.desidime.com/forums/dost-and-dimes/t... [SBI must have similar things in other divisions]

↙ banking outfits’ charges if you are to frequently pay a third party (broker other than SBI) or there are credits to your account.
↗ financial differences (if any) in the on-line TIFD submission versus having to do it at the respective demat desk/branch. (might happen that you are locked out of your account or site is throwing some errors or for any other reason, in an emergency you have only got recourse to physical TIFD submission)

Everyone is now in the race of client acquisitions, so you can completely ignore any ‘free’ account lollipops from any and every outfit (banking or non Banking outfit)
.
Rather evaluate on the ongoing relationship costs, convenience and ease of transacting.

Many groups or organisations that are ONLY in Stock Broking (or advisory) and Demat are sometimes much much cheaper in so far as running costs (per transaction) go.

some of them have easy bank linkages too.
Say, you open an account with XYZ DP and their Sister Co.: ABC stock broking;

if they to have an SBI account, then linking your account to theirs for remittances is easy.

if you just do need based investment and are not a fidgety trader, then your volume or per transaction costs anyway are not going to be large (in absolutes).

remember that a 200-300rs ‘free’ Demat account can seem nothing if you have say 50-80 scrips or frequent debit/credit in the demat account. as this would lead to all the ISIN based charges, coupled with the taxes and levies.

@desibuddy wrote: ..any bank with no demat charges per annum like that..

many.

practically all will say ‘free demat account’ for first year.

what they are saying is; they wont charge you an account maintenance fee
but if you are trading [or even if a family or friend credits securities (ISIN) to your account) then based on number of such transactions or the period for which the ISIN remained in the account,
the statutory levies/charges may apply.

i can recommend this too → sharekhan.com/campaign/zero.aspx back in 2004-2005, theres used to be the most simple file. It could be exported to excel too for easy analysis and understanding of actual status (annual reports, tax filing).

i also plan to invest, is zerodha have any monthly or yearly fees ?
any bank with no demat charges per annum like that

@desibuddy wrote:

i also plan to invest, is zerodha have any monthly or yearly fees ?
any bank with no demat charges per annum like that

With Zerodha,
- no fees for trading acct. just brokerage+taxes for your trades.

- 400/yr as AMC for demat.

best is to have a hdfc bank acct (or a few others -listed on their page) for fast n trouble free cash transfers.

@desibuddy wrote:

i also plan to invest, is zerodha have any monthly or yearly fees ?
any bank with no demat charges per annum like that

Go with Zerodha or RKSV as they both offer almost similar pricing. There would be no commission for delivery trades and for trading it is maximum 20 per trade/0.01%. No broker offers AMC free demat accounts and it would start at Rs.250 depending on the broker. If you are planning to invest for long term I would advise you to open a 3 in 1 account with SBI and use that demat account with one of these brokers (RKSV/Zerodha). But if you want to sell these shares you would have to either transfer it to the broker’s account from SBI or sell them on SBI platform. Also you cannot get the BTST and pledge facilities with these discount brokers when you don’t have their in-house demat account.

@sukhichd710 wrote:

Tuje 3:35 par demat account yad aa raha hai

Short and simple, call zerodha, they will help with everything

Trading and Demat >> Open both with Zerodha

ZERODHA PHONE: +91 80 4040 2020

I opened my demat account opened online. it was very easy ,i did not step out 4m my home . Message me I can tell u how

@Navneet wrote:

Short and simple, call zerodha, they will help with everything

Trading and Demat >> Open both with Zerodha(IL&FS demat account)

ZERODHA PHONE: +91 80 4040 2020

zerodha has their own demat now. no need of ol&fs

@dealshunter wrote:

@Navneet wrote:

Short and simple, call zerodha, they will help with everything

Trading and Demat >> Open both with Zerodha(IL&FS demat account)

ZERODHA PHONE: +91 80 4040 2020

zerodha has their own demat now. no need of il&fs

Earlier they had partnered with them, if your news is right, then thats great

@Navneet wrote:

@dealshunter wrote:

@Navneet wrote:

Short and simple, call zerodha, they will help with everything

Trading and Demat >> Open both with Zerodha(IL&FS demat account)

ZERODHA PHONE: +91 80 4040 2020

zerodha has their own demat now. no need of il&fs

Earlier they had partnered with them, if your news is right, then thats great

Yes both RKSV and Zerodha now have their own demat accounts. RKSV even had offered free for life demat account when they had launched their demat.

Studies @Spock

@sukhichd710 wrote:

Tuje 3:35 par demat account yad aa raha hai

I was not getting sleep bro. . so

@Spock wrote:

@Itachi Uchiha wrote: Hello Dimers,
I have little knowledge of stock market and its operations.
Just planning to invest in shares.
can u help me where should i open demat a/c and trading a/c?
is it better to go with a banker or non banker?
I have savings account in SBI.

Thankyou in advance

firstly, it is a great thing that you are thinking on building an investment corpus.
hope you treat it such and not be swayed by event based or reactive trading (tips, panic buy/sell).

about your query:
by any chance, since you have been on Desidime for a reasonable long time,

have to noticed or come across these topics ?? → (many are not directly narrowed in on your query, but are related)

http://www.desidime.com/forums/dost-and-dimes/t...

→ http://www.desidime.com/forums/dost-and-dimes/t... ←

http://www.desidime.com/forums/dost-and-dimes/t...
http://www.desidime.com/forums/dost-and-dimes/t...

---

remember, there are no free lunches and no quick or easy money exceptions can repeat themselves.
however any systematic, goal oriented steps as per a pre decided plan will always work wonders.
the idea is to remain consistent and invested over a long period of time, with course correction or portfolio realignment if there are some very specific reasons or market based triggers.
http://www.desidime.com/forums/dost-and-dimes/t...

here → http://www.desidime.com/forums/dost-and-dimes/t... someone spoke of an SBHI account

but also remember this → http://www.desidime.com/forums/dost-and-dimes/t...

Sure Bro
i will refer all these and get back to you.
Thank you for your help

@Navneet wrote:

@sukhichd710 wrote:

Tuje 3:35 par demat account yad aa raha hai

Looks like he dreamt about becoming billionare stock market way

The first step is to dream about your dream
so theres nothing wrong in dreaming

Thankyou for your response.
KG to all

@Itachi Uchiha wrote:

Thankyou for your response.
KG to all

And if I could suggest, learn technical analysis alongside.

@asoka wrote:

@Itachi Uchiha wrote:

Thankyou for your response.
KG to all

Do update ur progress in this thread.
!!!Good Luck!!!

Sure bro

guys another doubt about “Delivery Equity” as zerodha and Rksv showing free or zero fees, really is it true ..?? that is if i bought somestick (say : 10 share of Icici ), so i have to pay only the price of 10 shares ..?? no fees or tax ?

@desibuddy wrote:

guys another doubt about “Delivery Equity” as zerodha and Rksv showing free or zero fees, really is it true ..?? that is if i bought somestick (say : 10 share of Icici ), so i have to pay only the price of 10 shares ..?? no fees or tax ?

Brokerage no, tax yes.. But make sure you get the right plan activated for free delivery of equity.

Suggest you to open account with NSDL dp as i love its CAS statement.

Brokerage does not matter, if u sell or buy 1-2 minutes early or later it can overcome brokerage.

Rksv is with NSDL & Zerodha is with CDSL.

Sharekhan, etc are with both.

@dhinchakrohit wrote:

Suggest you to open account with NSDL dp as i love its CAS statement.

Brokerage does not matter, if u sell or buy 1-2 minutes early or later it can overcome brokerage.

Rksv is with NSDL & Zerodha is with CDSL.

Sharekhan, etc are with both.

Why open an account just for CAS statement? It doesn’t provide any value addition unless you are too lazy to track and keep note of your investments.

Brokerage can never be overcome (unless of course it’s a discount broker like RKSV, Zerodha etc) and if you meant that one can nullify it by selling/buying at higer/lower price it hardly makes sense. Also for traders (and even for investors to some extent) brokerage does matter a lot.

RKSV is with CDSL and not NSDL. CDSL provides ‘Easiest’ platform which can be used to transfer stocks.

@ranjithsai01 wrote:

@desibuddy wrote:

guys another doubt about “Delivery Equity” as zerodha and Rksv showing free or zero fees, really is it true ..?? that is if i bought somestick (say : 10 share of Icici ), so i have to pay only the price of 10 shares ..?? no fees or tax ?

Brokerage no, tax yes.. But make sure you get the right plan activated for free delivery of equity.

also if few members in family have demat account means, example: 5 members in family have zerodha account means, we can send some share (5 share of some company) to other account ? like i have 10,000 share of one company and bought at low price, now i want to send it to my brother account, say some 1000 stocks.. is it possible ? like we’re sending money in paytm, is it possible for share/stock too ?? if possible means, only both in same demat (zerodha) or even we send to other company (say sharekhan or rksv), fees ?

@ranjithsai01 wrote:

@dhinchakrohit wrote:

Suggest you to open account with NSDL dp as i love its CAS statement.

Brokerage does not matter, if u sell or buy 1-2 minutes early or later it can overcome brokerage.

Rksv is with NSDL & Zerodha is with CDSL.

Sharekhan, etc are with both.

Why open an account just for CAS statement? It doesn’t provide any value addition unless you are too lazy to track and keep note of your investments.

Brokerage can never be overcome (unless of course it’s a discount broker like RKSV, Zerodha etc) and if you meant that one can nullify it by selling/buying at higer/lower price it hardly makes sense. Also for traders (and even for investors to some extent) brokerage does matter a lot.

RKSV is with CDSL and not NSDL. CDSL provides ‘Easiest’ platform which can be used to transfer stocks.

@dhinchakrohit wrote:

@ranjithsai01 wrote:

@dhinchakrohit wrote:

Suggest you to open account with NSDL dp as i love its CAS statement.

Brokerage does not matter, if u sell or buy 1-2 minutes early or later it can overcome brokerage.

Rksv is with NSDL & Zerodha is with CDSL.

Sharekhan, etc are with both.

Why open an account just for CAS statement? It doesn’t provide any value addition unless you are too lazy to track and keep note of your investments.

Brokerage can never be overcome (unless of course it’s a discount broker like RKSV, Zerodha etc) and if you meant that one can nullify it by selling/buying at higer/lower price it hardly makes sense. Also for traders (and even for investors to some extent) brokerage does matter a lot.

RKSV is with CDSL and not NSDL. CDSL provides ‘Easiest’ platform which can be used to transfer stocks.

Have u seen CAS statement of NSDL ?

This is the subject line of CAS statements (they also have the IDeAS platform) if you are trying to accuse me of not knowing what it is

“Your NSDL Consolidated Account Statement – May 2016 (CAS ID – XXXXXXXX)”

It doesn’t offer anything extra in terms of value addition except tracking of your investments. A Consolidated Account Statement like a bank statement is only designed to provide the information and nothing else. It would be ridiculous to say one has to choose their broker with NSDL just because they provide a CAS. Not sure what value addition you are able to derive from it and if you can share you perspective, it helps us to learn something new.

In fact I was advised by someone I know to maintain all the records of investments in stocks/MFs/Insurance/Bonds myself. It is advisable to save a copy of your contract notes/acknowledgments of various instruments you have traded/invested.

@dealshunter wrote:

@desibuddy wrote:

i also plan to invest, is zerodha have any monthly or yearly fees ?
any bank with no demat charges per annum like that

With Zerodha,
- no fees for trading acct. just brokerage+taxes for your trades.

- 400/yr as AMC for demat.

best is to have a hdfc bank acct (or a few others -listed on their page) for fast n trouble free cash transfers.

treading account is free? charging 300 zerodha