In this article, we will discuss in detail the requirements, process, charges, and other details related to the Demat account in Angel Broking, but before jumping to the context let’s first learn about the firm.
Angel Broking was established in 1987 that offers multiple services like online stock broking, trade in the commodity, and many more services.
Talking about its product, it provides different products to the investors that help them to do trading. Some of the popular trading product of the firm are:
Angel Trade (Online Trading Platform for share investors)
Angel Swift (Trading app for small devices)
Thus it offers the best way to do trading at any point in time using a phone, email, or SMS.
Along with this, it uses a machine learning technology that helps in providing detailed reports from experts. The technology helps the firm to manage a portfolio, trade efficiently, track real-time stock updates, and in retrieving reports whenever necessary.
While trading, the Demat account plays a very important role like it holds your shares in a secured way in an electronic form.
Learn what are the basic requirements, and process involved in opening Demat account with one of the leading broker, Angel Broking.
So, let’s get started!
Angel Broking Demat Account Review
With Angel Broking Demat account you can hold your dematerialized shares thus offering more security to the shares you bought.
Apart from this, Angel Broking offers Free Demat Account services in which you do not have to pay any charges for opening an account with the broker.
Opening a Demat Account gives you access to online trading via trading platforms where you can gain unique trading experience.
In all, with the Demat account, you can manage your finances in a few clicks. In your Angel Broking Demat Account, you can hold different securities like shares, stocks, e-gold, bonds, IPO, ETF, etc.
Simplifying the concept you can take a Demat account as the bank account where you can keep track of all your credits and debit balance, transaction history, etc.
Here are some of the highlighted features of Angel Broking Demat Account:
Angel Broking offers Angel ARQ the flagship product. It is the technology-based tool in which the investor feeds the information and based on a rule of investment, it gives the output of the most viable options for investment.
The brokerage charges are the least that attract many investors.
It does not impose heavy brokerage charges and flat charges.
The minimum brokerage plan is Rs 20 per trade for all segments.
Angel Broking helps investors in saving up to 60% brokerage along with facilities of a full-service brokerage house.
Moving ahead with the all detailed concept, let’s discuss different types of Demat account that you can access by opening Angel Broking Demat Account.
Angel Broking Demat Account Types
Demat Account is further of three types:
1. Regular Demat Account: Traders residing in India can opt for this account type.
2. Repatriable Demat Account: NRI Indians who want to transfer funds abroad can get it done with this Demat account type. Furthermore, to get access it is essential to link the Demat Account with the NRE bank account.
3. Non-Repatriable Demat Account: Next comes another account for the Non-Resident Indians but here with this account, you cannot transfer funds abroad. To operate this account, you need to link it with the NRO bank account.
Angel Broking Demat Account Open
After understanding the concept of Demat Account if you are willing to open Demat Account with Angel Broking then here is the whole process of Demat account opening.
As already discussed, Angel Broking offers the free Demat account services and the overall charges of the Demat account depend on the volume of shares held in the account, type of subscription, and other terms and conditions laid on the customer by the depository like NSDL and CDSL.
For Demat Account opening, Angel Broking offers a simple process. Here are some of the steps that you have to follow to get access to online trading and holding of shares.
Visit the Angel Broking website.
Fill the application form by clicking on the link ‘Opening a new Demat account’.
The team conducts the in-person verification after which you have to pay the charges associated with the Demat account.
On the complete verification of the document, your Demat account opens, the confirmation mail of which is sent to you at your registered email account.
Angel Broking Demat Account Opening Online
As already discussed, Angel Broking offers a simple and streamline process for opening a Demat account. Here, you can open the account online.
For online opening follow the steps:
Visit the official website of Angel Broking
Register yourself by filling all your basic details like name, phone number, city.
An OTP is then sent to your registered number. Upon entering the OTP, you will be redirected to the new form.
Fill KYC details like date of birth, PAN Card details, bank details.
On further validation of information, your Demat account opens and its details will be sent to your registered email and mobile number.
Wish to open a Demat Account?
Angel Broking Demat Account Opening PDF
Apart from the online process, you can apply for the Demat account opening, offline as well. For this, just visit the website to download the form available in the PDF form, or visit the nearest branch.
Fill all the details, and attach all the documents required to open a Demat account.
On receiving the application form and further validation of it, you would be able to trade online in a few days.
Angel Broking Demat Account Opening Documents
To open Demat Account with Angel Broking, get started with the collection of some important documents. These documents should be submitted along with the application form.
So, for your convenience here is the list of documents that you should keep handy.
For identity proof, you can carry documents like:
For Address Proof, the applicant needs to submit the documents like:
Residential Electricity Bill
Residential Telephone Bill
For Bank Details, you need to submit
Scanned copy or photostat of the front page of passbook
In case you want to do trading in the derivatives segment, then you have to submit additional documents for income proof, like
Salary slips (of the last three months)
Last six-month bank Account statement
On verification of the document, the applicant will receive the email with login details that he or she can use to login to the Demat account.
Angel Broking Demat Account Login
On the successful opening of the Demat Account, the confirmation email is sent to the registered email or mobile number.
The confirmation email consists of the login details i.e. the username and password that you can use to access your Demat and trading account.
After your first login, you can reset your password accordingly using the password reset option.
Along with this, you can also use the same login credentials to log in to the Angel Broking trading platforms and software.
Angel Broking Demat Account Charges
After you are done with the essential need and documents required for opening the Angel Broking Demat account the next important step is to consider the Demat Account Opening Charges.
There are many brokers and financial institutions that provide free Demat account to their customers, but many times certain charges are levied on the customer at a later stage that depends on the options they have chosen.
It is always good to choose the financial institution that is authorized depository participant with NSDL or CDSL as well as registered with SEBI.
Thinking of opening a Demat account with the broker have a quick glance at Angel Broking Demat Account Charges.
1. Account Opening Fees
Many authorized DP levied nominal charges for opening a Demat Account. Many banks provide the account completely free if you set up the 3-in-1 account with them that implies saving a bank account, a trading account, and a Demat account.
Angel Broking does not charge any account opening fees and offers a great as well as seamless account experience by providing the online platform.
Although the account is opened for free sometimes the additional fees like stamp duty, GST, and other statutory charges as per the SEBI are being charged.
2.Annual Maintenance Fees
The Annual Maintenance Fees are charged annually and are meant for maintaining the account. Angel Broking charges Rs. 699 /year to offer various services to its members. Some of the services include:
Transfer of funds online
Advisory based on Analytics and AI
For trading ideas derivatives.
However, you open the Angel Broking BSDA account, then as per the revised guidelines of SEBI you do not have to pay any charges for debt securities of up to ₹1 lakh.
On the other hand, the sum of ₹100 is to pay if the holdings range from ₹1 lakhs to ₹2 lakhs.
Custody fees are the one-time fees that are charged annually by DP and is usually paid directly to the depository.
Angel Broking waive off the custody fees and thus provide relaxation to its member.
4. Transaction Fees
Transaction fees also called Demat account brokerage charges is charged against every transaction completed by the DP.
There are some DPs that charge a particular percentage over the value of transactions while the other DPS implements the flat fee per transaction.
The Angel Broking charged a zero brokerage for Equity Delivery Trading while for intraday, currencies & commodity, and F&O charged a flat brokerage of a sum of Rs. 20/order.
Some other charges imposed by the Angel Broking for account opening includes:
taxes and cess
rejected instruction charges
delayed payment, etc.
Here is the list of Angel Broking Demat Account Charges
Angel Broking Demat Account Charges
Scheme-Lifetime free AMC
One Time Upfront Fee
Annual Maintenance Charges
Charges for Pledge Creation or Closure
₹25 per ISIN
Charges for applying for corporate benefits
10 per certification and ₹30 per DRF for postage charges plus ₹30 per rejection
CDSL charges plus ₹30 postal charges per request
Additional DIS Requisition
Additional Request for Account Statement or Holding with valuation, freeze and unfreeze
Deliveries/ Debit Transactions
₹11 per ISIN
₹21 per ISIN
Angel Broking Demat Account Number
Every Demat account has a 16 digit unique account number.
In the case of CDSL, the account number is 16-digit number while in NSDL the Demat Account starts with IN followed by the 14-digits number.
Many investors consider the DP ID and Demat Account number similar but in reality, they differ.
On one hand, where DP ID is a number allocated to the Depository Participant like the broking firm, a Demat account is the combination of both DP ID and the customer ID of the Demat account holder.
The last 8-digits of the 16-digits is the Customer ID.
How to Close Angel Broking Demat Account?
Since Angel Broking charges the annual maintenance charges in such a case if you are not using your account currently or have zero balance in your Angel Broking Demat Account, then it is highly recommended to close the account.
It is quite tedious to close the Demat account than opening it.
This is because while opening an account you would get calls from stockbrokers and customer care executive who supports you in every step involved in opening the account.
In case you want to close the account you have to work yourself and need to submit a signed document via courier or by visiting the branch personally.
Angel Broking Demat Account Closing Form
Angel Broking does not charge any fees for closing the account. For closing the account download the Account Closure form from the Angel Broking website under the section “Important Documents”.
Fill the form and submit it to the Angel Broking branch.
To check the details of your debit and credit details, you can contact the registered branch.
Before submitting the account closure form, it is good to keep a few things in mind:
Make sure that the account does not contain any share.
There should be no negative balance in the account.
The member should submit the unused delivery instruction booklet slip back to the DP.
Once you ensure that all the steps are done, courier the form or submit it by visiting the nearest branch.
Angel Broking Demat account is closed within 3-5 days after completing all the formalities.
Few important points that one should go through before placing a request for closing an account:
No email or online request is accepted to close the Angel Broking Demat account. It is essential to submit the physical request for closing the account.
If you have a joint Demat account with Angel Broking then it is essential to get the application signed by all the members.
Do not skip filling any relevant information essential for closing the account.
Before closing the Angel Broking Demat account the client should clear all the debit in all the segments,
Transfer your shares to other currently operating Demat account or sell them before closing the account.
How to Close Angel Broking Demat Account Online?
As already discussed, there is no way to close the Demat account online. You either have to visit the DP branch near you or download the form from the website.
Follow the whole process discussed above and the DP closes your account on the complete validation.
In case of any assistance, feel free to contact the customer care team.
Along with the advantages, there are some disadvantages associated with the Angel Broking Demat Account like:
High AMC charges, the broker charges high Annual Maintenance fees as compared to other brokers in the list.
Other than this, the fund transfer from the trading to bank account is a little challenging and is not directly available through the online platforms.
Opening a Demat account with the registered DP like the Angel Broking offer many benefits like reduced paperwork, lower transaction settlement time, cost savings, and security.
Learning the right technique to operate the Demat account can offer you such advantages. Along with the Demat account, the investor needs to open a trading account to carry out the purchase or sale of shares.
The trading account, on one hand, reflects the buying and selling in a specific account while the Demat account is meant to hold the shares and securities similarly like the money in your bank account.
So, the Angel Broking Demat account helps the trades to purchase shares and also for the delivery of stocks.
1. What is my Demat Account number in Angel Broking?
The Demat account number is a 16-digit unique code that is offered to you once your account opens with the Angel Broking. The format of the Demat Account number varies for CDSL or NSDL.
The CDSL offers a 16-digit numeric character, on the other hand, NSDL starts with IN followed by the 14 digits unique numeric code.
2. How to open Angel Broking Demat account?
Opening a Demat Account with Angel Broking is simple as it offers both online and offline methods. For online method, visit the website and follow the steps as directed.
On the other hand, the offline process involves downloading the form, filling the form, and sending it to the nearest branch or the respective address of the Angel Broking.
For either of the method, you have to submit a few essential documents for KYC and identity verification.
3. How to close Angel Broking Demat Account online?
Angel Broking does not offer any means to close the Demat Account online. However, you can close the account by downloading the account closure form and sending it to the main office address.
Before closing the account, make sure there is no share in your Demat account and no dues to be paid to the broker.
4. How to transfer money to Angel Broking Demat Account?
To execute a trade, it is essential to have enough funds in your trading account. For this, you can use either of the fund transfer methods like NEFT/RTGS, any payment gateway or by paying a margin cheque/DD to the broker.
For instant transfer, make sure the bank is linked with your trading account.
5. Can I open Angel Broking Demat Account for Free?
Angel Broking does not charge any fees for opening a Demat Account, thus you can open the account for FREE.
Along with this, the broker waives off the AMC charges for the first year thus offering you the benefit of opening the Angel Broking free Demat account.
If you wish to open an account with this stockbroker, you can get in touch with any of the closest branches near your city or town.
You may also choose to fill up the below-displayed form and a callback will be arranged for you:
Finally, if you would like to get started with stock market trading or investments in general with a trading and Demat account, let us assist you in taking the next steps forward: