HDFC Securities allows its customers to open a 3-in-1 demat account with them, which is in addition to a Demat account and the trading account includes a bank account as well. This facility further enhances the ease of trading across various segments.
HDFC Securities has earned its place among the prominent stockbrokers in the country.
Once you are done, your documents will be verified and you get your account details within 24 hours.
2. Offline Method
Visit an HDFC branch and submit the application form along with providing necessary ID, address proofs, and PAN Card. Aadhaar Card will serve as ID proof and address proof.
After filling the form, you will receive an account opening confirmation email that includes your HDFC Securities login credentials.
Documents Require To Open An HDFC Free Demat Account
The required documents for opening HDFC free Demat account includes KYC application form, ID proof, address proof, PAN Card and a couple of photographs or scanned copies of the same in case if you’re applying online :
PAN Card copy
Address Proof – Rent Agreement, Electricity Bill, Telephone Bill, College Id Card with mention of Hostel Address
Copy of PAN Card of applicant
Recent passport size photograph
Bank Details – carry a canceled cheque to provide your bank details
HDFC Free Demat Account Charges
Although it doesn’t cost a penny in opening an HDFC free Demat account, there are other costs associated with it. Some of them are :
Account Opening Charges – HDFC free Demat account opening charges are nil. But, opening a trading account will cost ₹999. This is charged at the time of opening a Demat account and is a one-time charge.
Transaction Charges – Transaction charges vary on the basis of the type of Demat account.
Dematerialization Charges – They levy ₹5 per Demat certificate + ₹35 per request as Demat charges.
HDFC Free Demat Account Benefits
HDFC free Demat account holds many benefits. Here we take a quick glance at some of them.
It proves to be a one-stop platform for all kinds of trading. Be it equities, IPOs, government bonds, stocks or even derivatives, mutual funds, and SIPs.
The 3 in 1 account enhances comfort in trading. An integrated bank account with a trading and Demat account means that you can transfer money into your trading account pretty much anytime which results in the privilege of trading anytime you wish.
A complete waiver of annual maintenance charges of ₹750 for the first year.
HDFC Free Demat Account Disadvantages
As we have discussed the advantages above, we see it just as critical to bring forth some of the disadvantages of opening an HDFC free Demat account.
Commodity Trading isn’t an option if you have a Demat account with HDFC Securities. They don’t trade in commodities, so trading on NCDEX, MCX isn’t possible.
The minimum brokerage charge on HDFC free Demat account is ₹25, which is way too high in comparison to some of the discount brokers offering similar services.
Since the brokerage charged per share of worth less than ₹10 is ₹0.05. It has essentially become too costly to trade in penny stocks.
Even research tips in the form of SMS are charged.
Also, Demat Account Transfer allows you to transfer your Demat account from one broker to another. you can do this with
Once you have an HDFC Demat account, then you should know about HDFC PMS, portfolio management services are provided to minimize the risk by diversifying the portfolio.
HDFC is one of the most popular names in the banking world, and HDFC Securities, established in 2000, is their dedicated wing for the trading industry.
HDFC free Demat account allows you the opportunity to trade in the various segments of the market. Some of these are equities, IPOs, government bonds, stocks, mutual funds, derivatives (f&o), insurance, etc.
Among the merits of an HDFC free Demat account is the availability of a 3-in-1 account. Of course, one can choose a 2-in-1 account, that doesn’t include the banking account.
The major disadvantage of the HDFC free Demat account is their pricey brokerage charges. Then, there is the absence of commodity trading facilities.
We hope this article will assist you in making a more sound decision. Evaluate all the pros with cons and learn about all the charges associated with a Demat account.
Interested in opening a Demat account, allow us the honor in assisting you through the process:-