What Is Motilal Oswal Demat Account?
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Tired of all that paperwork and want to hold all your shares and securities in an electronic form, then opening Motilal Oswal Demat account should be your priority.
I know you want to know what the purpose of opening the Motilal Oswal Demat account is. The Demat account helps you hold all your shares that are in a physical form in an electronic format.
This makes the process of trading very convenient and comfortable for customers during online trading.
The Motilal Oswal Demat account keeps all the investment that one makes in government securities, shares, and bonds in one place. This makes it much easier for users to maintain and access it from anywhere throughout the world.
Demat account is quite similar to the bank account. The faster conversion rate and the quick activation process will prevent hacking and other theft.
Let Us Learn More About Motilal Oswal Demat Account:
Motilal Oswal is a renowned name in the field of financial services. It is not surprising that Motilal Oswal is a proud winner of many top awards.
With over 30 years of experience and 10, 00,000 client base has made Motilal Oswal a reliable name in the industry.
If you are living in India or an NRI, then you are liable to open the Motilal Oswal Demat account. So, if you want to buy and sell shares, then opening a Demat account is necessary.
Essential Documents Required for Opening A Motilal Oswal Demat Account:
To submit the application form for opening Motilal Oswal, account one needs to provide the following documents for the hassle-free process.
The lists of documents that are required are:
- One current colored passport size photograph.
- Any of the following proof of the bank statement that includes: a copy of bank statement, copy of the first page of your passbook, and a canceled cheque. Please note you are only required to provide a canceled cheque if the account holder’s name is printed on it.
- Your address proof which includes the following: Passport copy, driving license, electricity or phone bill, a copy of ration card.
- Pan Card – which is the most important.
From the above list of documents, Pan Card is the most important.
How to Open Demat Account In Motilal Oswal?
Opening a Motilal Oswal Demat account is quite easy. The entire process is very smooth and stress-free. Opening a Demat account is similar to a cakewalk.
Follow these steps to open Motilal Oswal Demat account:
- Fill in all the essential details. These include some necessary information, which includes your full name, country, nationality, and age.
- In the next step, you need to upload all your identity proof. These include the Pan Card, Aadhar Card, and bank details.
- Once all the documents are submitted, then you will have to go through the verification process. As soon as the verification is done, then your account will be activated within 24 hours.
You can do all this process just by sitting at your home. But if you want to open the account in a physical form, you just need to sign the physical copy and send these documents to the registered office, which is nearest your locality.
In case you are facing any difficulty, then you can reach out to Motilal Oswal executive. They are available 24×7 for your help.
Once the process is done, the client can start trading instantly.
All these are just one-time process as it helps you to know the customer guidelines.
Advantages and Benefits Of Having A Motilal Oswal Demat Account:
If you have your securities in a physical form, then that can be subjected to loss, theft, or damages.
Whereas, opening a Demat account in Motilal Oswal helps you to reduce all these risks. How? Just by holding all your documents, shares, and securities in tan electronic form.
Motilal Oswal Demat account ensures complete security by holding all your bonds, shares, and other investments are kept safely in an electronic form.
Provides Accessible holding:
At times it gets challenging to maintain and keep a record of all the documents when it is physically.
To make it more convenient, a Demat account holder can keep a record of all the documents with the help of a single account.
Demat account cuts down the cost:
It is also true that all the certificates in the physical form have to go through lots of additional costs, such as stamp duty and handling charges. These are cut down once you opt for the Demat account.
Switching to the Demat account eradicate all the time that is consumed due to paperwork. This feature is helpful in a number of ways. It allows the account holder to concentrate on making more purchases and sales of security.
Provides wide accessing options:
Opening the Motilal Oswal Demat account electronically means that you will have a better and quicker view. You can access your account through various modes of devices. From computers, smartphones, laptops to any other electronic device.
Secure transfer of shares:
Opting for a Demat account will help you transfer the shares immediately and in a completely hassle-free manner.
It is convenient and flexible:
You invest in bonds, equity, stocks, and funds; Motilal Oswal provides flexibility and convenience. You enjoy the benefit of multiple services through a single platform.
Motilal Oswal Competitor in India
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You stay up to date:
Motilal Oswal Demat account makes sure that you stay updated with all the information. A depository participant will regularly update you. Moreover, a regular message will be sent on a regular basis.
Other Benefits of Motilal Oswal Demat account:
- Reduces bad deliveries.
- Reduces the entire mismatch in the bank details, account and address.
- Regular information will be sent to the customer.
- Easy update.
Motilal Oswal Demat Account Opening Charges:
Three types of charges are associated with Motilal Demat account:
- The account opening charge
- Maintenance fee
- The brokerage charges
Motilal Oswal Demat account one-time charge fee while initiating the account opening process.
The initial charge of the Motilal Oswal trading account is Rs.600, and the annual maintenance charge is free.
The brokerage charge is levied when the investors buy or sell the shares.
Close the Motilal Oswal Demat
To close the account following things needs to be done:
- The client needs to download the form of the website.
- Take the print out and fill in the form completely. In the end, sign the form and submit the copy to the nearest branch.
Once you submit the duly filled form to the nearest branch, then the person-in-charge will take the necessary action to close the account.
It takes around 7-10 working days to close the account. You will not be charged any account closing fees.
The Demat account provides a wide range of facilities that is beneficial for investors. Let us have a brief look at what it includes:
- Transfer of investment
- Easy loan facility
- Corporate actions
- Freezing of your Demat account
- Less paperwork
- Easy way to keep and track all the shares
- No storage risks
Motilal Oswal Demat Account FAQs
Who is all eligible for opening the Motilal Oswal Demat account?
If you are an individual who is the resident of India, then you are eligible for opening the account. Moreover, NRI, a partnership firm, or a company can open a trading or Demat account with Motilal Oswal.
What are the things that need to be kept in mind while closing the account?
- You should not have any debit balance in your account. Moreover, the remaining payment needs to be cleared at the time of closing.
- There should be no stock in the Demat account.
How does the Motilal Oswal Demat account works?
Let us understand how Motilal Oswal Demat account actually functions:
- The repository in India, CDSL and NSDL keep all the Demat account and all the details of a shareholder in one individual account.
- Each Demat account has a unique identification code which you will receive at the time transaction.
- If you want to get access to CDSL and NSDL, then it is provided by the depository participant. The depository participant is the bank who acts as a link between the central depository and the investor.
- Once the investor successfully opens the Demat account, then they can hold all shares and securities and can also check the details from their account.
Is the freezing account feature available in the Motilal Oswal Demat account?
Yes, it is available. So if you are a Demat holder, then you have the power to freeze the account for a certain period, if need be.
What are the reasons for transferring shares from one Demat account to another?
You can transfer shares from one Demat account to another in these cases:
- If you have around 4-5 Demat account and you want to compile these Demat accounts to reduce the cost.
- You have one Demat account and want to keep a separate one for your trading activity.
What if I want to transfer shares from one Demat account to another? How to do that?
If you want to transfer shares from one Demat account to another, then one of the best ways is to do it online.
What are the details that need to be provided while logging in to the account?
You need to provide user id, password, and answer a few security questions.
How do I log in Motilal Oswal trading account?
If you are not a registered customer, then click on the account where you will get the facility of free trading account where you can instantly activate your account for online trading and investment.
Is it safe and secure to invest in the Motilal Oswal Demat account?
Yes, it is entirely safe to invest in the Motilal Oswal Demat account. With the help of the team of the great financial advisor, you will quickly get through the tough times. With several beneficial schemes, you will be a satisfied customer.
Does Motilal Oswal account offer a co-applicant feature?
Currently, the Motilal Oswal Demat account doesn’t offer a co-applicant feature.
Can a nominee details be added in Demat account?
Yes, of course. You can add in nominee details. All you need to do is take a print out of the nominee page, click a photograph, and upload in the section where you have been asked and the nominee will be added.
How long does it take to open or activate the account?
Once the in-person verification process is completed, your account will be activated instantly, and the customer can start the trading process.
How will I receive code and password?
The customer’s code and password will be sent to the registered e-mail address.
How to open a physical Demat account?
If you wish to open a physical Demat account, then you need to follow these procedures:
- Visit www.motilaloswal.com
- You will get an option where you will have to click on open an account.
- If your contact number is linked to your Aadhaar card, then choose the online application.
- Click on the submit button and continue with the form-filling process.
- Next, you need to sign the physical copy or documents and send them back for the verification process.
- In case you are stuck and need any help, you can reach out to the Motilal Oswal team at 022- 40548383. The team will help you to sort out your issue at the earliest.
Can a customer open the Demat account jointly?
Yes, you can open the Demat account jointly.
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Stockquantum was founded by Dharmendra Mukati in 2018. I am a Trader and Investor in the last 10 years.
I am writing here about stock broker review, broker comparison, IPO investment, Crypto currencies, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.