Demat, Online Trading, Savings Account and more

caac · #1 21st October 2007, 11:32 AM

Hello,

I am looking for some information about online share trading in India. Because I live abroad (Canada) I am unable to physically visit a bank's branch. I am just trying to collect as much information as possible so that when I come to India next (should be in December, 2007), I can just go and finish all the formalities.

Please correct me if I am wrong, but here is what my understanding is so far:

Step 1: I need a savings bank account
(I already have one with HDFC Bank, so that should be sufficient)

Step 2: I need a demat account
(since I have a savings account with HDFC bank, I guess I can just open that account with them)

Step 3: I need to register with an online-trading portal. This could be the bank itself (HDFC bank) or it could also be a separate trading portal such as 5paisa.com, sharekhan.com etc.
(Please let me know which one would be best to use online. Since I live abroad, I would like something that works online without requring me to go to the branch physically, or calling the customer service etc. something that just works reliably, flawlessly and speedily).

Is my understanding correct? Please let me know if I am missing anything.

I already do have the necessary documentations such as PAN Card, Passport, License etc.

By the way,

Can I have one demat account (let's say with HDFC) and open more than 1 trading-portal accounts (say with 5paisa.com, sharekhan.com - both at the same time linked to same single common demat account)?

Thanks

RadhikaSona · #2 22nd October 2007, 02:38 PM

Quote:

Originally Posted by caac

Hello,

I am looking for some information about online share trading in India. Because I live abroad (Canada) I am unable to physically visit a bank's branch. I am just trying to collect as much information as possible so that when I come to India next (should be in December, 2007), I can just go and finish all the formalities.

Please correct me if I am wrong, but here is what my understanding is so far:

Step 1: I need a savings bank account
(I already have one with HDFC Bank, so that should be sufficient)

Step 2: I need a demat account
(since I have a savings account with HDFC bank, I guess I can just open that account with them)

Step 3: I need to register with an online-trading portal. This could be the bank itself (HDFC bank) or it could also be a separate trading portal such as 5paisa.com, sharekhan.com etc.
(Please let me know which one would be best to use online. Since I live abroad, I would like something that works online without requring me to go to the branch physically, or calling the customer service etc. something that just works reliably, flawlessly and speedily).

Is my understanding correct? Please let me know if I am missing anything.

I already do have the necessary documentations such as PAN Card, Passport, License etc.

By the way,

Can I have one demat account (let's say with HDFC) and open more than 1 trading-portal accounts (say with 5paisa.com, sharekhan.com - both at the same time linked to same single common demat account)?

Thanks

You have everthing that need to open a demat account in HDFC bank. It will take 12 working days for bank to send you alll the information. Antoher thing you can open another account with 5paisa or sharekhan but i dont whether u can link with you bank account.The sites like 5 paisa or other give seprate account.. I dont have idea . Some one please answer this doubt.

Thanking you.

manojtyagi · #3 26th January 2008, 11:15 AM

Hi,

I have similar question.

(1) I have a demat account with ICICI, but can i apply for online trading account with any other source like Indiabull or RelianceMoney or anyone-else.
(2) With DMAT Account from ICICI, can i work with some brokers (who have their terminal, etc) for booking trade.

Any help will be highly appreciated.

Thanks,
Manoj

anoopk350 · #4 26th January 2008, 11:23 AM

Quote:

Originally Posted by caac

Hello,

I am looking for some information about online share trading in India. Because I live abroad (Canada) I am unable to physically visit a bank's branch. I am just trying to collect as much information as possible so that when I come to India next (should be in December, 2007), I can just go and finish all the formalities.

Please correct me if I am wrong, but here is what my understanding is so far:

Step 1: I need a savings bank account
(I already have one with HDFC Bank, so that should be sufficient)

Step 2: I need a demat account
(since I have a savings account with HDFC bank, I guess I can just open that account with them)

Step 3: I need to register with an online-trading portal. This could be the bank itself (HDFC bank) or it could also be a separate trading portal such as 5paisa.com, sharekhan.com etc.
(Please let me know which one would be best to use online. Since I live abroad, I would like something that works online without requring me to go to the branch physically, or calling the customer service etc. something that just works reliably, flawlessly and speedily).

Is my understanding correct? Please let me know if I am missing anything.

I already do have the necessary documentations such as PAN Card, Passport, License etc.

By the way,

Can I have one demat account (let's say with HDFC) and open more than 1 trading-portal accounts (say with 5paisa.com, sharekhan.com - both at the same time linked to same single common demat account)?

Thanks

Hi,

Now you can open savings+demat+trading A/cs in Indus Ind Bank at any branch. They can open the account with in 15 days. others can(HDFC, ICICI) will take 60 days to open demat and trading. so i prefer Indus ind bank.

Thanks

Anoop Kumar

anoopk350 · #5 26th January 2008, 11:26 AM

Hi,

you can open "N" number of demat or trading accounts.

Thanks

anoopk350 · #6 26th January 2008, 11:28 AM

Hi,

you can open "N" Number of Demat and Trading accounts. Indus ind bank will guide you to open savings+demat+trading accounts. they have all these departments.

Thanks