5Paisa a part of the IIFL group based in Mumbai. It is the second-largest discount broker in India. The brokerage re-launched in 2016 its new brokerage model for providing the online retail broking services. Along with many services like online trading, online mutual funds, online insurances, it also offers provision for opening 5paisa Demat account for free.
5Paisa at date serves more than 3,80,693 retail customers and is one of the best discount brokers in the country.
5Paisa commences commodity trading and thinking to offer personal loans to its clients. Apart from this, it will include funding products like IPO, NCD
A Demat Account also called a dematerialized account is open to holding the shares and securities electronically. Opening a Demat Account reduces the chance of theft, forgery or loss of physical certificates.
In all, the Demat account streamlines the whole process of buying and selling shares thus helping traders to do trade without any hassle.
5Paisa Demat Account Review
A Mumbai-based discount broker 5Paisa offers a wide variety of services like trading, investment, and advisory.
It is known for offering low-cost financial services, depository services and the stock and currency trading in NSE/BSE.
5paisa Demat account is one of the key services and thus one can make use of this service to open the 2-in-1 account.
This will gives you the clear understanding of the need and help you to make the best use of the account.
The scheme of 5Paisa Demat Account includes:
BSDA Account: The AMC charge for BSDA account with Demat value up to ₹50,000 is NIL while for the Demat account between ₹50,000 to 2,00,000 it is ₹100.
5Paisa Demat Account Key Features
The following are some of the top features of the 5Paisa Demat Account that influence many traders to choose it for opening the account.
5Paisa Demat Account is well integrated with the trading applications.
The trader can hold his mutual funds in the same Demat account.
One can use the account conveniently for online and offline transfer of shares.
To prevent the account from getting misused there is a provision for deactivating the account
It is easy to access the Demat account via the mobile trading app, website ad or desktop trading app.
5Paisa Demat account is used for making a direct deposit of dividends in a linked bank account.
The Demat account update bonus issue, right shares, or stock split automatically.
5Paisa Demat Account Opening
If you are looking forward to know how to create demat account, then here is the 5Paisa stockbroker. The broker comes up with seamless way to open the account.
Along with this, it offers top reasons to open a demat account. Some of them are:
Low Cost: 5Paisa Demat account is opened for free. Along with this, it does not impose any fixed DP AMC charges. The trader needs to pay the charges only when he trade.
Flat Fee: The low fee helps the traders to save up to 98% on the brokerage cost. It implies the trade in high volumes with the flat fee of just ₹10.
Hassle-Free: It provides the complete paper-less Demat account opening process. The whole process is based on Aadhaar and hence manages all the investment in one place.
Single Account: It uses a single account to trade in stock, futures & options (F&O), commodities and currencies at the flat rates.
5Paisa Demat Account Opening Documents
For opening a 5Paisa Demat Account, the applicant needs to upload the essential documents enlisted below.
PAN Card: A coloured and scanned copy with a clear name and photo.
Documents for Address Proof: For address proof one can submit the document like
Lease or Sale Agreement with Residence
3. Documents for Bank Proof: For the bank details one can upload documents like:
Cancelled cheque with the printed name on it
Bank Statement with a first page having a customer name.
4.Documents for Income Proof: To show the income proof upload the document
Demat Account Holding
5Paisa Demat Account Opening Process
5Paisa along with many benefits also offers a simple process of opening a Demat account.
The steps involved in opening a 5Paisa Demat account are:
Fill in your Personal Documents
It offers the simplest way to open the Demat Account in India. The applicant only needs to enter the date of birth, Aadhar Number and PAN number. The rest of the details are pre-filled by the 5Paisa account opening executive.
Once all the details are filled, the applicant needs to verify all the details.
2. Enter the Bank Details
The bank details; account number and IFSC code should be submitted that helps in easily fetch all the information.
Entering the bank details ensures that the fund and securities settle with your trading account. One can start trading only after linking with the bank account Without the verified trading account the customer can have a Demat account that will be used only for holding securities in the digital form.
3. Upload the Documents
5Paisa Demat Account opening process is completely paperless and so one can open the account simply by uploading the documents like:
4. e-Sign the Form
After filling all the essential information and uploading documents, the other important step is adding the e-sign in the application form using the Aadhar Card.
Growth of 5Paisa at a faster rate and good customer ratings attracts many traders towards it. So if you trade often and looking forward to opening a Demat Account with the reliable stockbroker then this is the one you can rely upon.
In case you are looking to get started with your stock market investments, let us assist you in taking the next steps ahead.
Just fill in a few basic details here to get started: