Demat account is important when it comes to dealing with share market. However, before you start trading with it, you need to link the demat account with your bank account. You can use any of stock apps free for your own convenience. Here are the steps to link your demat account with your bank account:
Open a demat account with a broker. You can open a demat account online or offline.To open a demat account online, you need to provide your personal details such as name, address and PAN card number. You will also need to provide your bank details.
Login to your demat account. Once you open your Demat account, you can log in to your account using your username and password. You can use any of stock apps free for your own convenience.
Click on “Link bank account”.In your demat account section, you will find the option to link your bank account. Click on this option.
Enter your bank details. You need to provide your bank account number, IFSC code and account holder name.
Check your bank details. After entering your bank details, you will need to verify them. You can do this by entering a one-time password (OTP) that will be sent to your registered mobile number. You can use any of stock apps free for your own convenience.
Submit your request. After verifying your bank account details, you can submit an application to link your demat account with your bank account.
Here are some of the benefits of linking your demat account with your bank account:
You can easily transfer money from your bank account to your demat account and vice versa. This makes buying and selling stocks easier.
You can use your bank account to pay brokerage fees and other costs related to your demat account. You can use any of stock apps free for your own convenience.
You can receive dividends and other payments directly into your bank account. This helps organize investment documentation.
You can easily monitor the performance of your investment by linking your demat account with your bank account. You can use any of stock apps free for your own convenience.
If you are planning to invest in stocks, it is important to link your demat account with your bank account. This makes it easier to buy and sell stocks and manage your investments.
Here’s what you should keep in mind when combining your demat account with your bank account:
Make sure the bank account you link is in your name. This is to ensure the security of the funds in your demat account. You can use any of stock apps free for your own convenience.
Please enter your bank details correctly. Any errors in your bank account details may delay the linking process.
Check your bank details carefully. This helps prevent fraud and unauthorized access to your demat account.
Request to link your demat account with your bank account only after verifying your bank details. You can use any of stock apps free for your own convenience.