DEMAT Account is very unique in terms of nomination. It is a sole financial product in which the nomination supersede the will of the individual. it is important to understand all the facts about the Demat Account to avoid future surprises.
In case, you are investing for inheritance or anticipating the misuse of Demat Account i.e. to avoid any fraudulent transaction by your broker then you can avail the facility to freeze or lock your Demat Account. It can be done at the stock level or entire Demat Account can be freeze or locked based on the request of the investor. It also possible to lock or freeze only debit or credit facility based on your requirement. You can also mention the expiry date of the lock-in period.
You can also avail loan against your delivery holding by pledging the shares. The shares will act as collateral.
Some of the viewers ask me whether they can open multiple trading accounts or trading accounts, the answer is YES but with a different broker. In other words, you can open only one account with one broker.
At the same time, you can link same Demat Account with multiple trading accounts. If you are not using your Demat Account for long period then it will be freeze by your broker or depository. You have to carry out KYC to unfreeze. Therefore, it is better to close the Demat Account, if you are not using the same. Needless to mention, you have to pay annual maintenance charges on your Demat Account.
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7 Facts About DEMAT Account You Dont Know (HINDI) trading screen | |
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