Kotak Mahindra Demat account is a must-have if you want to invest in stocks in this country. Kotak Mahindra offers a three in one Demat account.
This account has Kotak Trading Account and Kotak bank account as well. Kotak Mahindra Bank began in 1994 and Kotak Securities Ltd. is its product well known for brokerage services.
They have a lot of brokerage related services to offer and with the customer range of over 12 lakhs, Kotak Mahindra Demat account is one of the biggest brokerage houses in India.
Let’s take a deep look into Kotak Mahindra Demat account and understand the whole process of it’s working.
Types of Demat Account
As mentioned Kotak Mahindra offers a lot of services in the brokerage area. Thus, they have eight different kinds of Demat accounts for customers to choose from.
a) The first one is based on customer needs and requirements. The managers at Kotak Mahindra select the scheme best fitted with customer’s need to avoid all risks. It is a kind of Auto Invest account in which investments are done in Gold ETFs.
b) The next is Kotak Gateway which is designed for beginners. It offers a variety of trading options as well as call and trade facilities. It also has features such as SMS alert, news portal, and market reports.
c) Kotak Mahindra also has an option specifically for its elite clients. This one is Kotak Privilege Circle best suited for traders. It allows keeping the margin amount now than Rs. 10,00,000. This amount can be either in cash or stock.
d) Then it has accounted for all the Mutual Fund Investments called Kotak Freedom.
e) Then the next one is set for saving purposes. It is called Kotak Super Save because the brokerage rate is fixed and steady and the provision for margin is quite low.
f) Kotak Mahindra has a PMS Demat account in which the account holders and whatever they invest is highly surveyed and organized by financial specialists and those who are proficient in this field.
g) Kotak Mahindra also serves the NRIs by providing a fully online based Demat account called Kotak NRI account. It enables the NRIs to invest in investment bodies in the country.
h) The last one is three in one Trinity Account and as the name suggests it’s a combination of three accounts that are tied together. All of the three are Kotak Accounts only and the correlation results in making the fund transfer smooth and simple as well as safe up to a vast expanse.
Benefits of Kotak Demat Account:
There is a lot of advantage when you are associated with a popular name such as Kotak Mahindra. Let’s look at some of the benefits Kotak Mahindra Demat Account has to offer:-
- Mutual funds, currencies, merchandises, equities are some of the features of Kotak Bank Demat Account along with several trading and investment options.
- The best part of Kotak Mahindra Demat Account is the accessibility. With over 1400 branches all over the country, customers can easily find a solution to any kind of problem they may be facing. At the same time, all of the customer care services are available online as well.
- Kotak Mahindra helps its customers in investment and trading by providing researched and examined reports for market pointers as well as gives a proposal for stock. It also has an installed SMS alert system to notify customers timely.
- Online customer care service is available at all hours to resolve issues. A chat feature is also there to quickly chat with customer care officers.
Steps to Open Demat Account
Like any other bank account, Demat account also requires certain documents and proofs in order to open an account. The very first step is the opening form which goes as follows:-
- Demat account opening form – either Individual or corporate
- A photograph of each of the account holder
- Nomination form ( only in case of an individual )
These are the following documents one need to produce to open a Demat account:-
A) Individual Account
- Pan Card
- Passport or Driving license
- Voters ID
- Debit/Credit Card
- Address details
B) Corporate Account
- PAN Card copy of the corporate company
- Board resolution – Mode of operation
- Approved signatories with sample signatures
- Memorandum of the corporate company
- Registered documents by the registrar of the company
- Registered leave as well as a licence agreement.
These are the specific documents one need to provide to open Demat account with Kotak Mahindra after submitting the form. Soon after this all the files and documents are further moved to verification and after approval, the user gets the login details for the Demat account.
Fees For Kotak Demat Account
- There is no fee required for opening Demat account with Kotak securities. All of the three accounts which are Kotak Demat, Trading, and Bank account are free of charge to open with Kotak securities.
- Kotak Demat accounts are safe as they come under CDSL and NSDL depositories.
- However, the Annual Maintenance Charge ( AMC) for Kotak Demat account is Rs. 50 per month for Indian citizens and Rs. 75 per month for NRIs. Although the AMC for Demat account could be removed by redeeming offers which are often provided by Kotak securities.