Dive in to grab all the information of the Demat account in Religare.
Religare Demat Account Review
Demat account is the materialization of the account that holds shares and other trading details in an electronic form. As you keep funds in your bank account, a similar Demat account is used to hold your shares in a secured form.
Religare, the reputed service provider offering the provision to open the Demat Account. The account gives the user the facility to access their trade anytime and from anywhere.
Religare offers 2-in-1 account i.e. the trading and Demat account together to its customer. The trading account allows the customer to buy or sell shares at the stock exchange.
While the Demat account gives customers the facility to manage its online trade and electronic business seamlessly.
With more than 500 branches across different cities of the country Religare emerged as one of the largest stockbrokers with over 10 lakh customers.
The 2-in-1 Religare account gives you access to make the best use of the trading platform. No wonder, the broker didn’t compromise with its client requirement and works towards offering the best trading platform.
Its analytical tool called Tech Scan is effective in carrying out the online stock trading via the trading platform.
The firm is offering services for more than 25 years and never failed to meet its customer requirements. Starting its journey with the small network, the firm has gained much reputation and awarded with the prestigious award like ‘Best IPO Listing‘ from the Outlook Money NDTV Profit in 2008 and with the ‘Brand Excellence Award‘ i the ‘Banking and Financial Services‘ by the World Brand Congress in 2009.
The award list is long that proves that the broker is reliable and offers security in trade to its customers.
But as a trader, it is good to dive deep into the company’s detail to get the assurance of its vast services and charges imposed by the broker.
If you are willing to open a Religare Demat Account then you can open it by both online and offline methods.
Religare Demat Account Opening Online
Here is the step by step process that helps you in opening the account online
1. Visit the Religare website and click on the green bar with the link ‘Open a Demat Account’.
2. A new screen appears in front of you.
3. Submit or upload all the required documents like passport size photograph, PAN Card, Aadhar Card and other documents.
4. Grab all the relevant information of the policies and procedures from the Depository Participant
5. The in-Person verification is carried out by the authorized person of the depository participant.
6. Once the verification step is over, the account details are sent to your registered email address.
Religare Demat Account Opening Offline
For opening the account offline the customer have to visit the Religare branch or call the executive who then arranges a form pickup from home.
To open the account offline, download the form from the website and take its print out.
Fill all the details and attach the self-attested photocopies of the documents.
Sign the form and submit it to the nearest branch.
On verification, the account is opened in a few days.
Interested in opening a Demat Account
Religare Demat Account Opening Form
If you are looking forward to knowing how to open a Demat account, then here Religare brings good news for you. You can now open the account online.
You can download the account opening form from their website and submit it after filling all the relevant details along with the documents mentioned below.
Religare Demat Account Opening Documents
To open a Demat Account with any broker it is necessary to submit a few essential documents for address and identity proof.
Here is the list of documents that you have to submit to open a Religare Demat Account.
Documents for Proof of Identity
PAN Card with a photograph
*Here is however few exceptions to the PAN Card rule for the traders relating to specific income slab as per the section 139A, is the resident of Sikkim, if the transaction is done on the behalf of Central or State government.
Documents for Proof of Address
Voter ID Card
Registered Lease or Sale Agreement of the Residence
Religare does not charge any fees for opening a demat account. But to trade continuously you have to pay the sum of ₹500 as the Demat account annual charges or Annual Maintenance Charges. These charges are applicable from the second year onwards.
Considering the margin money, the account holder needs to maintain the minimum account balance of ₹50,000 as the Margin money.
All the transactions done are processed by the CDSL and NSDL.
Among a list of a few stockbrokers, Religare is the one offering a free demat account. But what does it mean, that you do not have to pay any fees?
Many investors think so, but that is not actually true. You are free from paying account opening fees but have to pay AMC charges every year. Other than this, there are usual DP charges and custodian charges associated with the demat account.
Thus, the free demat account only provides you relaxation from paying the account opening fees.
Religare Demat Account Login
Once you follow all the steps to open the Demat account you will be provided with the login credentials. You can log in to your account by visiting the Religare login page.
On the page, enter the User ID, Password and PAN Card Details or DOB.
Post this click on the Login button and access your trading account without any hassle.
When it comes to open a Demat account, the brokers offer to streamline the online process. But closing a Demat account, is time-consuming as it can only be done through an offline method.
Thus, the customer has to submit the physical form to the branch or courier it to the address of the brokerage firm.
Here are the steps, one must follow to close the account.
Download the form
Visit the DP’s website or the broker’s website. On the website download the account closure form.
Save the form and take out its print.
Fill the form by entering the details starting with the DP ID or Client ID.
Fill your name and address as per the records.
Mention the reason for closing the Demat account.
Sign the closure request and make sure that all the members sign the form in case of a joint account.
Send the Form
Once you fill the form and meet all the requirements, deposit it to the nearby branch or courier it to the following address:
Religare Registered Office Second Floor, Rajlok Building, 24, Nehru Place, New Delhi (110019)
Transfer your shares
If the Religare Demat Account still have some shares, then it is essential to transfer them to another active account.
Give the details of the account to which you want to transfer the balance.
The transfer is initiated by filling the delivery instruction slip.
Once you submit the form, it takes 7-10 days to close the account.
Religare does not charge any fees for closing the account.
*Make sure you clear all your dues before submitting the request for account closure.
Religare Demat Account Customer Care Number
In case you find any difficulty in trading you can contact the Religare Customer support team.
With the mission of offering a seamless trade experience, the firm offers the best support services.
You can call the support team between 8:30 AM to 7:30 PM from Monday to Friday and between 9:00 AM to 6:00 PM on Saturday.
Here are the details of the customer support team:
Religare Demat Account Customer Care
Customer Care Number
Religare Demat Account Advantages
By opening a Religare Demat Account, you would be able to reap some of the best advantages like:
Margin facility that helps you to trade on existing the Demat holding.
Keeping track of investment in Equity, mutual funds, gold ETF, etc.
No need for separate DIS for selling or purchasing stocks
Reap the benefit of availing the lifetime free AMC by paying the one time amount of ₹2500 under Bandhan Green Plan.
Religare Demat Account Disadvantages
Along with many advantages there are some disadvantages too associated with the opening of the Religare Demat account.
High AMC charges.
High account opening charges.
Demand ₹50,000 as a minimum margin amount to be maintained.
When you open the online Demat account with Religare, it becomes easy for you to buy or sell the shares of your company and also maintain them in a secured form.
Experience hassle-free trading and open a Demat account now.
The firm does not offer 24 hours support.
Frequently Asked Questions
1. Does opening a Religare Demat Account offer provision to invest in Mutual Funds?
Yes, Religare opens a gateway to invest in different segments including the mutual funds. By investing in a mutual fund the asset management companies collect investors from investors and then invest in stocks, bonds, debt funds, etc.
2. Does Religare provide the trading tips to its customers?
Being a reliable stockbroker, it offers trading tips for the stock, and commodity trading.
3. What are the AMC charges charged by the Religare?
Like any other broker, Religare does not charge any AMC charges for the first year. However, the amount of ₹300 is charged from the second year onwards. These charges are applicable only for the Demat account and no such charges are levied for the trading account.
4. What are the additional benefits of opening a Religare Demat Account?
Here are some of the additional benefits of the Demat account with Religare:
It offers a personal recommendation to its customers.
Offer high returns that beat the index.
Offers benchmark consistency to outperform.
Demat least investing amount.
Provides recommendations for future investment by analyzing the current performance.