Axis Bank is known to be the third-largest bank and is famous as a financial service provider to the customers in the stock market. Today let’s have a detailed discussion over the Free Demat Account in Axis Bank.
The two methods used to open a Demat Account online, and the other one is offline. Selecting the medium to open an account solely depends on the customer’s convenience, whether a client wants to go for an online platform or complete the process offline.
Let’s have a brief discussion over the two
This method is a hassle-free method because one can easily open an account by just sitting on his couch with a PC or a laptop.
Firstly it is important to visit the official website of the organization.
Then you have to fill the form correctly by filling your details like name, contact number, email-id, etc.
After filling the form, they will contact you to verify the details.
You need to give them scanned copies of the latest passport-sized photos, PAN Card, and ID proof.
The method is for those individuals who are not comfortable with the online method. The procedure is simple. Here, you just need to go to the company’s branch and fill the form to open an account.
You are required to carry all the important id proofs with you so that they can have your records such as your identification proof, address proof, and bank details.
Documents required to Open Axis Bank Free Demat Account
You have to submit a few official documents that are required to open an account. Here is a list of the required documents
Identity proof: PAN card is used as the main identity proof; with this, you need to submit your 2 passport size photographs.
Address proof: In this, you have to give the evidence of your address by submitting a copy of your driving license, electricity bill, Adhaar card that clearly defines your address id.
Bank account: you have to submit a canceled cheque or the first page of your bank’s passbook.
Axis Bank Free Demat Account Charges
In this segment, we will let you understand the charges that the customer has to pay for using the Demat Account services. Here are some of the charges levied on the customers
There are two types of accounts of Axis Bank, and the charges levied are different, which are as follows:
BSDA: it is referred to as Basic Services Demat Account.
Demat Account opening charges: The account opening charges of Axis Bank are nil, and the account closure charges are also zero. No charges are taken from the customer to open a demat account.
Annual Maintenance Charges (AMC): No AMC is charged for the first year from the existing customer of the organization, but after 12 months, a flat ₹ 750 is charged from the customer to maintain their account.
The non-existing customers of the bank have to pay ₹—2500 per annum as their annual maintenance charges.
For BSDA, the AMC is based on the value of holding of Axis Bank Demat Account. The details are as follows
AMC is zero for the holdings below ₹ 50000.
The AMC charges are ₹ 100 for holding more than ₹ 50000 to 2 lakh.
The charges levied are as same as the regular account if the holding value is more than ₹ 2 Lakh.
Axis Bank Free Demat Account Benefits
Utilizing the benefits of the Axis Demat account will help you have the best trading experience. Here are some advantages of the Axis Demat.
Research and tips
The research team of Axis bank is quite strong, and its employees have a good experience in this field. If you are new in the trading sector, you need proper guidance to work well to fulfill your objectives.
The organization’s manager will provide you the proper guidance by researching your portfolio and making a full strategic plan to get the best deal for you.
They will share the data with you and will recommend the best path for the clients.
Axis Bank provides various trading platforms, which makes it easy for the clients to watch the activities of their accounts anywhere, anytime.
Utilization of the trading platforms keeps you updated regarding the market activities to make decisions accordingly.
Instant buying and selling of shares with the help of an online mode of trading.
Axis Bank Free Demat Account Disadvantages
Here are a few demerits of opening a demat account with Axis Bank, which is as follows:
Higher brokerage charges.
Apart from the mobile trading app, clients need to pay charges on a monthly basis for the utilization of other trading platforms.
A low exposure margin is offered.
Axis Bank is the third-largest financial service provider to its customers. Both the online and offline mediums are present for opening a Demat Account.
The procedure for opening an account with both mediums are explained above. Research is done for the customers, and the best tips are given for the betterment of the customers’ portfolio.
Axis Bank Free Demat Account makes it easy for the client to see their activities, and if they are not doing well, they can change their strategies accordingly to make more profits.
Axis Direct Brokerage is levied high on their customers and a low margin is offered to its customers, this is the main drawback.
We hope this article has contributed to your understanding of the free Demat account in Axis Bank and made it easy for you to decide regarding the Axis Bank Free demat account.
If you have any doubts, you can ask us in the comments below.
Want to open a Demat Account, please refer to the below form