What Is a Demat Account?
Before you think about trading in shares and doing related financial activities, there is one thing that you definitely need to do. And that is, opening up a demat account.
This account will not only hold all of your shares but also hold other financial entities such as bonds, ETFs, mutual funds and other assets.
All this will be held in an electronic and easy to access format. SAS Online demat account provides you a simpler way to start trading and that too with added benefits.
In a demat account, the shares are stored in an electronic format which makes it extremely convenient to keep a track of their numbers.
Since trading of physical shares is quite impossible since the traders are all remotely situated, having the shares online makes it much easier to trade.
Who Is SAS Online?
SAS Online is a pretty recent online broker that arrived on the scene in the year 2013. This discount broker allows you to perform various financial services.
You can easily trade-in equity, commodities, and F&O using this platform. Besides this, you can also trade in the currency in the various stock exchanges such as the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and the MCX.
But the most widely used and popular service offered by this online broker is that of opening up a demat account. Being an online broker service of the South Asian Stocks Limited and SASs Online Commodities Pvt. Ltd, it also serves as a depository participant with National Securities Depository Limited (NSDL).
The unique feature of this brokerage service also enables you to open a two-in-one account wherein you can open a demat account along with a trading account.
How To Open A SAS Online Demat Account?
The primary step in the opening of a demat account is the selection of a depository participant.
A depository participant acts as a retailer and facilitates the transaction between you and the stock exchange.
SAS Online provides a dependable Depository Participant (DP) option and enables you to carry out all your transactions easily and efficiently.
Considering that you decided to open up your demat account with SAS Online, you can proceed the follow the given steps to get your SAS Online demat account opened.
1)First of all, go to the website of SAS Online.
2) There, first of all, you will have to enter your name, e-mail id, and phone number. These are some of the essential primary details which you need to provide in order to get started with your SAS Online demat account.
3)After this, you need to fill an application form for opening up your demat account and enclose the requisite documents such as the PAN card, Aadhar card, bank account details, etc.
4)After you have submitted the filled application form along with the appropriate documents, you will get a copy containing the rules and regulations pertaining to the opening of the demat account. Also, you will be notified about the charges pertaining to the account. In addition to this, you need to agree to the terms and conditions listed.
5)After this, a person from the office of SAS Online will call or visit you to confirm the submitted details. Once this process is over, your SAS Online demat account will be created. You will receive the account number and ID with the help of which, you can easily operate the account.
As we have said before also, you need certain documents along with a filled application form to open up your SAS Online demat account. It is only after the submission and verification of these documents that your account will be opened. Also, these are essential to prevent any kind of fraud.
Here is a list of all the documents which you might need to get started with your demat account.
- Copy of the PAN card
- Aadhar card
- Bank statement
- Address proof which can be your driver’s license, voter ID, Aadhar, etc.
- A photograph of yours
- Income proof. This is generally your bank statement.
SAS Online Demat Account login
Once you have completed all the formalities such as filling up and submitting the application form, providing the required documents, signing the terms and conditions agreement, etc, you are ready to start trading.
You can use the given credentials to go to your demat account and start trading.
The following steps will guide you to easily log into your account.
- First of all, go to the home page of the website of the online broker which is SAS Online.
- From there, you will need to access the alpha trader platform of SAS Online. Now you can either download the software version for it on your computer or just use the web version of it to start trading instantly. There is also a mobile application that can be easily downloaded and used for trading.
- Whichever platform you choose to operate on, you will be asked your login credentials before starting. Just enter them to log into your SAS Online demat account and start trading.
- The most important benefit of having a SAS Online demat account is that you can easily access your demat account online from wherever you want.
- You can easily invest online in various stocks, derivatives, currency as well as mutual funds in both the NSE as well as the BSE.
- The yearly charges paid in the form of account maintenance charges (AMC) are very minimal.
- The brokerage charges are also pretty low.
- While trading in shares, you do get margins against them.
- You have the option of margin funding and to pledge your holdings.
- Just like the opening process, the process of freezing your demat account is also pretty easy and straightforward.
- Like many other online brokers, SAS Online does not give you the option of opening a 3 in 1 account.
- You cannot invest in IPO, FPO, Mutual Funds, FD’s and NCD’s.
- Online trading is well and good but in some cases, you might want to call up a trader and trade. In such a case, you need to pay an additional fee of Rs 20 per executed order.
- The Back office of SAS does not portray real-time trading data. Hence, it can become quite a bit confusing at times.
SAS Online Demat Account Opening Charges
In order to open up your demat account with SAS online, you need to pay and upfront account opening fee of Rs 200. Also, your demat account will require a yearly payment of Rs 200 as account maintenance charges (AMC).
Some of the other charges which are directly related to your SAS Online demat account are:
|Account opening fee||Rs 200|
|Account maintenance charges for individuals||Rs 200|
|Account maintenance charges for corporate||Rs 500|
|Transaction charges in case of a debit transaction||Rs 9 per debit transaction + certain depository charges|
|Rejected transactions||Rs 30 per transaction|
|Rejection charges in case of demat||Rs 35 per rejection|
Although SAS Online is relatively new and one of the many online brokers available in the market right now, there are many features that make it stand apart in the crowd. Nevertheless, since investing your money is a big thing, it would be better if you keep all the above-mentioned points in mind while going to open your SAS Online demat account.
This will not only help in easing the account opening process for you but will also make you aware of what you are going to deal with.
SAS Online Demat account some Commonly Asked Questions
Is opening a demat account necessary to open up a trading account?
There is absolutely no need to open up a SAS demat account in order to open a trading account. You can independently open up any kind of account.
What are the various account maintenance charges involved?
In the case of SAS online, you do need to pay an annual account maintenance charge in case you have a demat account. This charge is Rs 200 for individuals and Rs 500 for corporate
What is the procedure to transfer my funds?
You can transfer the funds to SAS demat account in multiple ways. This includes various payment gateways along with a check or can also easily transfer the funds online.
Can an existing demat account of mine be linked with a new SAS Online demat account?
Absolutely. You can easily do this on any of the SAS Online platforms and integrate your accounts. In fact, in case you have a previous demat account, the account opening process will be much shorter for you because your KYC has already been done and all the information is readily available on the central servers.
Can I open more than one trading account in my name?
No. While you cannot open more than one trading account in your name with the same broker, you can register the account with a different broker.